Little-known Dingman Industries doubled to 60 cents on volume of nearly half a million shares after the company said it has finalized a joint venture deal with a Soviet firm to treat arsenical gold concentrates from the Republic of Kazahstan. The deal calls for Dingman to come up with a way to process about 100,000 tonnes per year of gold- bearing concentrates, as well as market various precious stones for Glavalmazzoloto, a Soviet firm. Dingman, which will act as lead foreign partner, is establishing the treatment plant and will be paid in gold bullion. Cradle Mountain Canada traded 197,200 shares to remain unchanged at 30 cents after the company signed a letter of intent to earn a 55% interest in the Susanwill gold deposit, 50 miles west of Baker, Ore. The deal is with American Copper and Nickel Co., a unit of Inco (TSE), and the deposit has preliminary reserves of 240,000 tons grading 0.25 oz. gold per ton in a quartz vein system.
Shares of Toronto-based Kingswood Explorations perked up 2 cents to 30 cents on news that the company has optioned a 1.7-million-ton zinc deposit near Matagami, Que., from Noranda (TSE). Kingswood is also drilling another gold property in the Eastmain River area of northern Quebec.
In the Bathurst base metal camp of New Brunswick, NEBEX Resources plans to conduct detailed geophysical surveys to define drill targets on its claims northeast of the Brunswick No. 12 mine.
Avanti Capital has signed a joint venture agreement with VSE-listed International RSV Resources giving the latter company an option to earn a 60% interest in Avanti’s Stewart, B.C., claims. The deal calls for exploration expenditures of $400,000 by Dec. 31, 1992. Avanti traded 66,000 shares to close unchanged at $2.45.
Goldbank Ventures gained 10 cents to close at 40 cents after the company said it is preparing to drill a new zinc-copper discovery on its Mila project, near Clearwater, B.C.
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