Tex changes name, raises financing
Alberta-listed Orex Resources has raised $310,000 in a rights offering and intends to raise $1 million more in an exchange offering this month. The money will be used to finance work on three interest…
News
Cominco Resources completes offering
Cominco Resources International Ltd., which recently organized to act as Cominco Ltd.’s exploration and mine development arm outside Canada, Alaska and Australia, has completed the sale of 41.4% of it…
Development, mining costs give loss to Anglo Dominion
Anglo Dominion Gold Exploration reports a net loss in the first quarter of $1,400,000, compared with earnings in the similar period last year of $17,400. The company says the loss in the latest period…
Promising results from Joutel property
A 20,000-ft drilling program has started on Kerr Addison’s Joutel Twp. property in Val d’Or, Que. Following a promising gold discovery on the 1,066-acre property, project manager Onyx Resources can ea…
Lenora building reserve base, to double gold output
Lenora Explorations is preparing to increase gold production from approximately 5,000 oz this year to more than 10,000 oz by 1988. In order to achieve this objective and to position itself for further…
Placer selling Equity shares
Placer Development has agreed to sell 4.82 million common shares of Equity Silver Mines to Dominion Securities and Nesbitt Thomson Deacon as underwriters. Price of the shares will be $12.50 each. Plac…
Industrial minerals attract mining companies
While gold has captured the public’s imagination of late, the search for l industrial minerals has proved attractive to a number of mining companies. Properties in Canada and the United States are act…
Northquest option
Northquest Ventures has acquired an option to earn a 25% interest in a gold prospect located in Chester Twp., Ont. Situated 25 km southwest of Gogama, the property was acquired from Westport Resources…
Ore reserve estimates can cause tons of confusion
There is, perhaps, nothing more fundamental to mining than ore reserves, yet, at the same time, there is no other single item in mining that causes so much argument, disagreement and outright confusio…
Belmoral, Vedron discuss merger
The boards of directors of Belmoral Mines and Vedron Ltd. are exploring the possibilities of a merger of the two gold mining companies. Belmoral currently has a 39% interest in Vedron and, under an ex…
Metal Prices FUTURES PRICES (June 15, 1987)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) June 70.15 69.55 70.10 + 0.70 July 70.15 69.25 70.10 + 0.80…
Editorial A really big mining show
The image of mining will get quite a boost from the new mining pavilion at Ontario Place, in Toronto, officially opened the other day by Ontario’s ministry of northern development and mines. A kind …