NEWS ROUNDUP — Hemlo forgives Windarra loan
Toronto-based Hemlo Gold Mines (TSE) has agreed to forgive most of a $8.9-million loan made to Windarra Minerals (TSE) in 1988. The junior will repay Hemlo $1 million. Windarra used the loan to financ…
News
Ontario discusses new industrial policy
The framework for Ontario’s new industrial policy was the topic of discussion at a recent lunchtime gathering of the Toronto Society of Financial Analysts. Ed Philip, minister of Industry, Trade and T…
LATIN AMERICAN ROUNDUP — Teck a partner in Boron venture
A private placement and joint venture agreement with Teck (TSE) could lead to a significant expansion of boron production at existing operations in Chile and Bolivia, Boron Chemicals International (VS…
Tan Range active in Tanzania
Calgary-based Tan Range Exploration (ASE) is acquiring several exploration concessions in Tanzania through its subsidiary, Tan Can Mining. To date, the company has received approval for diamond conces…
Drilling tests discovery at western Fors prospect
The share prices of Consolidated Ramrod Gold (TSE), Chapleau Resources (VSE) and Barkhor Resources (VSE) held firm even though assay results were not as good as expected from the first hole drilled on…
LATIN AMERICAN ROUNDUP — Aurizon alters La Reyna deal
Ownership of La Reyna copper-gold project in the Mexican state of Sinaloa is being restructured (subject to regulatory approval) to give Aurizon Mines (TSE) a 95% working interest, the company says. T…
LATIN AMERICAN ROUNDUP — COMBIOL to undergo restructuring
A contract to design a restructuring program for the Bolivian state-owned mining company COMBIOL was awarded recently to consulting firm Pinock, Allen & Holt of Colorado. The project, funded by the Wo…
LETTERS TO THE EDITOR — `Sensationalizing’ diamond finds
I would hope that the timing of your lead story “Colored microdiamonds spur investor interest” (T.N.M., Nov. 23/92) will teach you a lesson or two about sensationalizing certain aspects of the recent …
NEWS ROUNDUP — Bruneau reactivation proposed
Shareholders of Bruneau Mining (ME) will be asked to approve a new reactivation plan for the company at a joint annual and special meeting on Dec. 30. Under the plan, Canamax Resources (TSE) and its s…
NEWS ROUNDUP — Cancelled dividend hurts Redstone
Cancellation of a previously declared dividend by Falconbridge Dominica C. por A. (Falcondo), a subsidiary of Falconbridge, has resulted in decreased net earnings for Redstone Resources (TSE). Redston…
LETTERS TO THE EDITOR — CIDA grant for Namibia project
I am completely puzzled after reading in your newspaper that the Canadian International Development Agency (CIDA) has approved a $485,000 grant to Canadian Overseas Exploration to finance a feasibilit…
PNG seeks larger stake in Porgera
The new coalition government of Papua New Guinea (PNG) headed by Prime Minister Paias Wingti has served notice that it plans to seek an additional 20% to boost to 30% its stake in the Porgera gold min…