NEWS ROUNDUP — BHP options Matagami prospect
Alberta-listed Kingswood Resources has granted BHP Minerals Canada the right to earn a 70% interest in its base metal property southwest of Matagami, Que. BHP, which will operate the project, can earn…
News
LETTERS TO THE EDITOR — Government shouldn’t hinder mining
A recent issue of the Saskatoon Star Phoenix newspaper carried two articles, one titled “Recognition of city as mining centre overdue” and the other “Panel report death knell for uranium industry?”. T…
Gold Funds (November 15, 1993)
Gold Funds as of Nov. 9 BGR Central Net Value $14.87 $5.91 Price $13.50 $6.50 Premium 10% Discount 9.21% Value $83,290,000 $117,645,450…
Financing (November 15, 1993)
Argosy Mining — 8 million shs @ 45 cents. Braiden Resources — 500,000 units @ 61 cents. Canso Explorations — 600,000 units @ 85 cents. Red Fox Minerals — 1 million shs @ 50 cents. Silverstone Reso…
Starcore to explore platinum project
By March of next year, Starcore Resources (VSE) plans to spend at least $475,000 on its recently optioned Goodnews Bay platinum property in western Alaska. The company can earn a 70% interest from the…
Teck sets exploration sights on Ecuador and B.C.
Teck (TSE) is stretching its exploration arm both north and south. The Vancouver-based major has entered an agreement with Ecstall Mining (VSE) to increase its property holdings in eastern British Col…
NEWS ROUNDUP — Freewest to drill Verneuil 100
Geophysical and geochemical surveys are nearing completion on Golden Tag Resources (VSE) Verneuil 100 property in northwestern Quebec. Freewest Resources (TSE), the operator of the work program, can e…
Uranerz drilling Nevada gold play
Uranerz U.S.A. has experienced mixed results after completing several reverse circulation holes at the Slaven Canyon North project in Lander Cty., Nev. Although the program confirmed the presence of g…
LETTERS TO THE EDITOR — MPs and their big pensions
Canadians shouldn’t lose too much sleep worrying about all those Members of Parliament (MPs) who were fired Oct. 25. That’s because 73 of them instantly qualified to start collecting their gold-plated…
NEWS ROUNDUP — Breakwater granted Honduran play
The Honduran government has granted Breakwater Resources (TSE) a 1,200-hectare exploration concession in the centre of the country. The 1,200-hectare La Chacra property is 100 km by road from the comp…
Major nickel producers are in cost-cutting mood
The nickel industry has reacted to lower prices by cutting costs. A study by research firm Brook Hunt & Associates of England says producers have chosen not to reduce production by a meaningful amount…
Cominco bleeding red ink due to base metal price slump
Cominco (TSE) reported a net loss of $123.3 million for the first nine months of the year, compared with a profit of $65 million for the same period in 1992. The red ink was mainly attributed to low b…