GOLD FUNDS (January 23, 1995)
BGR Central Net Value $16.89 $6.60 Price $14.00 $6.75 Discount 17.12% Premium 2.3% Value $133,012,000 $122,170,275…
News
Fairstar, Nora acquire Benso
Reconnaissance work has led Montreal-listed partners Fairstar Explorations and Nora Exploration to acquire the Benso concession in south-central Ghana. The 58-sq.-mile property, which contains several…
Nugget Res. plans drilling program
A mid-February start is planned for a drilling program at the Australian gold project of Nugget Resources (ASE). The junior’s property is in the famous Hill End district of New South Wales. President …
Greenstone financing raises $8.4 million
Latin American gold producer Greenstone Resources (TSE) has completed a 2-series convertible debenture offering valued at $8.4 million. Each series has a 5-year term and may be converted into Greensto…
Aquaterre seeks funding for its projects in B.C.
Provided funding can be arranged, Aquaterre Mineral Development (VSE) plans to spend $1.8 million on its properties near Stewart, B.C., in 1995. The bulk of the funds are earmarked for the Georgia Riv…
Cyprus seeks El Abra funding
With a feasibility study wrapped up, Cyprus Amax Minerals (NYSE) is seeking almost US$1 billion to develop the Chilean copper project known as El Abra. The company is seeking a loan of $US700 million …
ODDS’N’SODS — A busy little drill bit
When the Helen mine at Wawa, Ont., first underwent an underground stope development program, a series of diamond drill holes was required to locate the F.W. contact over a rather large area. Using the…
Corner Bay projects advance
Management of Corner Bay Minerals (TSE) has received encouraging results from two separate joint ventures near Chibougamau, Que. On the Group 1 “Inner Block” property, where copper reserves have been …
INVESTMENT COMMENTARY — Queenstake seen as attractive
Buying out-of-favor stocks is seen by many as a good way of following the first part of the buy-low/sell-high rule. Yorkton Securities sees value in Queenstake Resources (TSE), which recently traded a…
Birim expands Ghanaian holdings
CDN-listed Birim Goldfields has expanded its Dunkwa prospecting licence in Ghana to more than 130 from 50 sq. km. The property lies between the Ashanti Goldfields gold mine and Gencor’s Bogosu gold mi…
New coal mine for Stellarton, N.S.
Nova Scotia’s natural resources ministry has given the green light to a surface coal-mining operation at the former Wimpey pit in Pictou Cty. The project, proposed by Pioneer Coal, was approved subjec…
Centenario gives boost to Dom. Republic mining
The discovery, in recent years, of the Centenario gold deposit “has been one of the outstanding events” for the mining industry of the Caribbean island of Hispaniola, writes correspondent Gerald Ellis…