NEWS IN BRIEF (June 08, 1992)
International Suneva Resources Ltd. (ISN:VSE) has changed its name to Nevsun Resources Ltd. (NSU:VSE) with a consolidation of 1-new-for-4-old-share basis. The transfer agent is Montreal Trust.
News
Rio gets Chilean mine financing
Toronto-based resource giant Rio Algom (TSE) has made the necessary arrangements for a US$180-million financing package needed to develop the Cerro Colorado copper mine in northern Chile. After an ini…
Texas Star deals for 25% stake in Arkansas project
Texas Star (VSE) has worked out a deal to increase to 25% its interest in a diamond exploration joint venture in Arkansas’ Crater of Diamonds state park. Arkansas granted approval to conduct an explor…
Greenstone sued over the death of Colombian
A recent statement of claim in the Ontario court, general division, related to the death more than two years ago of a Colombian geologist who worked at the small Oronorte gold mine in Colombia, owned …
Mine closures lower Corona production
A total of 169,359 oz. gold and gold equivalent was produced to the account of International Corona (TSE) during the first three months of this year, about 10,000 oz. lower than in the year-earlier pe…
GOLD FUNDS (June 08, 1992)
BGR Central Net Value $7.93 $5.07 Price $6.25 $4.60 Discount 21.16% 9.30% Value $47,200,000 $77,391,780…
Loan guarantees can’t entice lenders to support Pine Cove
Nova Gold Resources (TSE) says two projects, each using environmentally friendly processing technology, could provide capital this year for the cash-strapped junior if financing can be secured. The co…
Canamax eliminates its debt, hopes for higher gold price
Vancouver-based Canamax Resources (TSE) may be without an operating mine, but at least the former gold producer is going about its business with a debt-free balance sheet. With $14 million worth of de…
Royal determined to stay operating as violence erupts on
Some union workers at the Giant gold mine near Yellowknife, N.W.T., are crossing the picket line to join contract miners and Royal Oak Mines (TSE) staff at the mine operation which is running round-th…
Dundee selling Poco interest
Net proceeds from the sale of its 33% interest in oil producer Poco Petroleums should be about $29 million, Dundee Bancorp (TSE) says. Dundee is a major shareholder in International Corona (TSE), whic…
Miner Details (June 08, 1992)
Spring is annual meeting time, and no better opportunity exists for shareholders and media types to catch a glimpse of the corporate culture and personalities behind Vancouver’s mining companies, whic…
Bulk sample at Raglan (June 08, 1992)
Activity at the Raglan nickel-copper property in northern Quebec increased dramatically with the decision by Falconbridge last year to proceed with $35 million in advanced exploration and development …