Barrick to back Canarc
In an effort to muscle into South America, gold giant American Barrick Resources (TSE) has agreed to a strategic and financial relationship with Canarc Resource (VSE). The deal follows on the heels of…
News
LAST BUT NOT LEAST — Asarco sells Australian unit
International base metals producer Asarco (NYSE) has sold its remaining 45.3% interest in Asarco Australia for US$79.5 million. The sale of the 66.5 million shares will result in an after-tax gain of …
LAST BUT NOT LEAST — Silver Star raises $518,000
A stock offering by Silver Star (CDN) will raise $518,000. The company plans to use $410,000 to explore its Dasserat, Launay and Pascalis-Vauquelin gold properties in northwestern Quebec. Most will be…
LAST BUT NOT LEAST — Gold reserves rise in South Africa
South Africa’s gold and foreign currency reserves rose by 28.9% from November to December, 1993. Figures released in Pretoria by the Reserve (central) Bank show December’s total was 9.1 billion rand (…
Global Stone completes offering
Following regulatory approval of its special warrant prospectus, Global Stone (TSE) has received, from escrow, $28.8 million from the sale of 6.3 million special warrants. About $10 million from the o…
Aurora secures mine financing
Australian mining firm Aurora Gold has secured US$45 million in funding for its gold and silver project in Kalimantan, on the Indonesian island of Borneo. Rothschild Australia, NM Rothschild & Sons an…
Musto warms to MIM offer, sues Metall Mining
Proving that hostile takeovers are just that, International Musto Explorations (TSE) has served notice it will proceed with legal action against Metall Mining (TSE) and Metall’s financial adviser, McL…
Mexican delegation at Calgary forum
A delegation of Mexican mining officials is scheduled to attend Calgary Mining Forum ’94, Feb. 10-11 in Calgary, Alta. The visitors will speak on mineral investment opportunities in Mexico and meet wi…
Crown options Argentine ground
A 86% owned subsidiary of Crown Resources (TSE), Solitario Resources, has an option to buy seven properties containing copper, gold and silver mineralization in the western Argentine province of Mendo…
Pegasus snaps up El Condor
The proposed merger of El Condor Resources (VSE) into Pegasus Gold (TSE) would put a fresh feather in the cap of the Robert Hunter-Robert Dickinson team. Pegasus plans to offer $7.50 (payable in commo…
Metal Prices (February 07, 1994)
London Metal Exchange Spot closing prices in $US per tonne Date Feb. 1 Jan. 31 Jan. 28 Jan. 27 Jan. 26 Copper 1864-1865 1844-1846 1848-1849 1860-1861 1849-1850 Lead 508-509 506-507 506-507 517-518 506…
NEWS ROUNDUP — Agnico gets nod for share acquisition
A plan by Agnico-Eagle Mines (TSE) to acquire 533,333 shares of Sudbury Contact Mines (TSE) has been approved by regulators. In return, Sudbury will receive $2 million pursuant to the flow-through pri…