Bema raises US$33 million
To finance construction of the Refugio open-pit mine in Chile, Bema Gold (TSE) will raise US$33 million from a private placement of 330,000 special warrants. The units are exchangeable into 7.5% conve…
News
Commodity index rises slightly (October 17, 1994)
The commodity price index of the Bank of Nova Scotia rose by 0.6% in August, despite seasonally weak metal and agricultural prices. The all-items index is 11.2% higher than it was at this time last ye…
Madsen suing Ontario gov’t
Junior Madsen Gold (TSE) is taking the Ontario government and the Local Services Board of Madsen in the Red Lake area of northwestern Ontario to court. The company is seeking damages from the ministry…
Dunlap drilling Century property
Drills are turning on the Century gold property in Idaho. Dunlap Resources (VSE) is earning a 60% interest in the project from Cactus West Explorations (VSE) by spending US$1 million. Geological mappi…
Castle plans drill programs for pair of Mexican properties
Junior Castle Minerals (VSE) is planning a 3,000-metre drill program for its Cerro Agujerado property, and another for its Lajita property. Both projects are in the northwestern Mexican state of Duran…
Assays reported from Hislop-Beatty
Partners Glimmer Resources (VSE) and Hemlo Gold Mines (TSE) have announced new drill results from the Hislop-Beatty property in northeastern Ontario. The best intersections were in holes 94-137 and 94…
Gold Funds (October 17, 1994)
Gold Funds as of Oct 10 BGR Central Net Value $18.29 $6.87 Price $15.75 $7.25 Premium 5.5% Discount 13.91% Value $148,628,000 $131,219,925…
Carmacks feasibility complete
A feasibility study states that the Carmacks copper project in the Yukon can produce 45 tons of copper per day during an 8.5-year mine life. Situated 25 miles northwest of Carmacks, Y.T., the project …
Toronto Stock Exchange Indices (October 17, 1994)
— 1994 — Oct 11 Oct 10 Oct 7 Oct 6 Oct 5 High Low Composite”300″ 4315.39 N/A 4290.80 4276.32 4253.36 4609.93 3518.31 Metals&Minerals 4051.98 N/A 4075.69 4009.50 3994.10 4270.14 3273.56 Integrated Mi…
Chevron sells — Stillwater stake
Platinum producer Stillwater Mining has undergone a restructuring. Chevron USA has sold its 50% ownership in the company. At the same time, Stillwater has sold, to institutional and other investors, n…
Underground drilling results at Nicholas Lake encouraging
Management of Athabaska Gold (TSE) is encouraged by underground drill results from its Nicholas Lake property, 60 miles north of Yellowknife, N.W.T. Results have been received from 15 of the 36 holes …
Anvil to raise $55 million
The new company formed to revive the Faro lead-zinc mine in the Yukon has engaged a financing firm to complete a $25-million private placement. Anvil Range will place 4.4 million shares with both Cana…