NEWS IN BRIEF (August 09, 1993)
South Atlantic Ventures (SCV:VSE) has changed its name to Southern Copper Corp. (SOU:VSE) with no consolidation of capital. The transfer agent is Montreal Trust.
News
Chase nets $2.75 million
Chase Resource (VSE) has received $2.75 million following the exercise of certain series A warrants and non-transferable agents warrants. About 1.5 million warrants were originally issued as part of a…
Serem adds to Cheni Gold position
French government-controlled Serem has bought an additional 1.4 million shares of Cheni Gold Mines (TSE) in accordance with a 1992 subscription agreement. Serem, which is based in Paris, can buy up to…
Asarco hurt by low metal prices; NEWS IN BRIEF
Desert Gold Resources (DGR:VSE) has changed its name to Desert Holdings Inc. with a consolidation of capital on a 1-new-for-3-old-share basis. The transfer agent is Montreal Trust.
NEWS ROUNDUP — Tulsequah drilling under way
Underground drilling is in progress with two rigs at the Tulsequah Chief property in northwestern British Columbia. Owner Redfern Resources (TSE) expects to complete about 25,000 ft. of definition dri…
Deep hole to probe Geco potential
In what is probably the deepest hole ever commissioned by Noranda (TSE), a diamond drill will probe the Manitouwadge Synform to a depth of 8,000 ft. in a long-shot bid to extend the productive life of…
Bre-X acquires 80% interest in Indonesian gold property
Calgary-based junior Bre-X Minerals (ASE) has acquired an 80% working interest in an advanced gold project in East Kalimantan, Indonesia. The 57,571-hectare property contains three main occurrences, t…
LAST BUT NOT LEAST…Kinross issues special warrants
Underwriters Midland Walwyn Capital, Nesbitt Thomson and Goepel Shields & Partners have agreed to acquire 10 million special warrants of Kinross Gold (TSE) at $2.50 each for total proceeds of $25 mill…
LAST BUT NOT LEAST…Kalahari acquires Abitibi properties
Vancouver-based Kalahari Resources (VSE) has acquired 31 properties along the Abitibi greenstone belt of northwestern Quebec and northeastern Ontario. The properties were chosen by a group of prospect…
LAST BUT NOT LEAST…Reed Lake extends gold zone
A sampling program on the Corbiere Twp. property near Wawa, Ont., has extended the gold-rich pyrite zone another 60 metres to the west, reports Reed Lake Exploration (ASE). The 3-metre-wide zone, whic…
COMMENTARY — The diamond-cobalt bond
Diamonds are still the hardest substance available for cutting, but only in a few cases (for example, wheel dressing) are large stones used on their own. Most diamond tooling is made in a manner simil…
Placer Dome loosens reins — Independent-minded Gibraltar
Since production started in 1972, Gibraltar Mines (TSE) has adapted to adversity several times and survived. It hopes to continue that strategy partly by expanding mill capacity at its Gibraltar open-…