Rayrock reducing Discovery interest
The interest of gold producer Rayrock Yellowknife Resources (TSE) in oil and gas producer Discovery West Corp. will be reduced to 39.6% (on an undiluted basis) from 47% following completion of an offe…
News
LATIN AMERICA — Even optioning property in Chile
An option agreement to acquire, subject to regulatory approval, a 100% interest in the Inca de Oro project in Chile, in the province of Chanaral, has been acquired by Even Resources (VSE). The gold pr…
Court backs plan by Horsham to take Clark Oil public
A Delaware court has granted Missouri oil refiner Clark Oil & Refining the right to proceed with a US$100-million initial public offering of common shares, despite opposition from minority shareholder…
Windy, Cochise to drill at MacLeod
Exploration will resume on Windy Mountain Explorations’ (ASE) MacLeod Lake polymetallic property in northern Quebec following the closing of a $335,000 private placement at 59 cents per share. Windy s…
Trev negotiates options on two Ontario properties
Calgary-based Trev (ASE) has negotiated option agreements to earn a 100% interest in two Ontario properties with the potential to host significant massive sulphide mineralization. Previously held by t…
LATIN AMERICA — Mexico is largest trading partner
Canada’s largest trading partner in Latin America is Mexico, reports the Export Development Corp. (EDC), which recently announced the conclusion of a technology-based sale by a Canadian exporter to Me…
Commodity index rises slightly (July 13, 1992)
The metal and mineral sub-index of Scotiabank’s commodity price index edged up in May as firmer zinc prices offset weaker prices for nickel, gold and aluminum. The sub-index helped the all-items index…
Menora completes unit offering
A private placement of 1.125 million units at 40 cents per unit has been completed by Menora Resources (ME). Each unit consists of one common share and one warrant; two warrants and 80 cents are requi…
Audrey wins a reprieve on US$12.1 million of debt
Still seeking a way to finance development of new reserves at its Mobrun polymetallic mine near Rouyn-Noranda, Que., Audrey Resources (TSE) has won another reprieve on debts owed to Elders Finance Inc…
First Standard dewaters gold mine
Vancouver-based First Standard Mining (VSE) says it has started dewatering the Val St. Gilles gold mine north of Rouyn-Noranda, Que., and has received all the environmental permits and approvals neces…
INSIDER TRADING — Alston exercises Rhonda options
Jan Alston, secretary-treasurer of Saskatchewan diamond explorer Rhonda Mining (ASE), stands to make a substantial profit after exercising options at a considerable discount to the recent market price…
Westray hearing gets under way
An inquiry into the deadly explosion at the Westray coal mine opened June 29 with accusations from a union lawyer that the company and provincial government routinely ignored safety to boost productio…