FINANCING (December 12, 1988)
ONTARIO Augmitto Expls. — final rec iss offer min 750,000 & max 2,000,000 @ $4 per Cl A spec sh to net min $2,760,000 & max $7,360,000. Dynalta Egy — final rec iss offer min 3,000 & max 10,000 @ $1,…
News
J.A.G. pondering on-site test mill
Encouraging results have been received by J.A.G. Mines (ME) from underground sampling of the Aubelle vein at the Belleterre property in northwestern Quebec. Average grade of the assays of 10 bulk samp…
Crown Resource Corp acquires Carlin bet
Crown Resource Corp. (NASDAQ) has optioned a 34,000-acre exploration property in the southern portion of the Carlin trend in Elko Cty., Nev. The property, which lies about six miles southeast of Newmo…
Joly’s output exceeds early expectations
Operating results from the Jolu gold mine during November have exceeded original expectations. Operated by Corona Corp. (TSE), the mine north of La Ronge, Sask., produced 5,266 oz of gold from ore gra…
Nova-Cogesco, MSV pursuing merger
Two Quebec-based junior companies are pursuing a merger, announcement of the move coming on the heels of a takeover proposal by a gold producer of one of the juniors. Nova-Cogesco Resources (TSE) says…
Editorial Who’s in charge here?
Politics can make for some very peculiar reasoning. Take, for example, our recent general election, won by the Progressive Conservatives with what appears to be a resounding majority — 169 of 295 sea…
Glimmer Resources plans more drilling on Barnet Twp. bet (December 12, 1988)
NSR Resources (TSE) has signed a letter of intent with Master Gold, a private company, which gives Master the right to earn an interest in three of five concessions held by NSR in Rouyn Twp., Que. Mas…
Spot prices at a glance (December 12, 1988)
Week’s Price (US) Change Gold (per oz) $425.35 +$ 4.05 Silver (per oz) $ 6.11 +$ .04 Platinum (per oz) $597.00 –$ 5.00 Copper (per lb) $ 1.64 +$ 0.10 Lead (pe…
Ateba sampling old Magnet mine workings
Underground mapping and sampling are currently under way on Ateba Mines’ (TSE) Magnet mine property, located 10 km west of Geraldton, Ont. A dewatering program, completed last month, has enabled acces…
Shortage leads to `black market’ for sodium cyanide
Sodium cyanide, essential in the recovery of most gold produced today, is in such short supply that a “black market” has developed for the chemical driving prices up sharply for those without an assur…
Montreal Exchange Mining issues stronger
Resource issues put on a strong show this week, with the mining and minerals index moving up more than 54 pts. In comparison, the general market portfolio index gained slightly more than 9 pts. Daily …
Lac gets $48 for Stillwater
A one-third interest in the Stillwater platinum-palladium operation in Nye, Mont., is being sold by LAC Minerals (TSE) for $48 million(C) to its two project partners. Operator of the mine, which opene…