NEWS IN BRIEF (February 10, 1992)
Spectrum Gold Corp. (SGI.A:VSE) has changed its name to Scarlett Minerals Inc. (SMI:VSE) with a consolidation of capital on a 1-new-for-2-old-share basis.
News
Rio Algom to develop copper mine in Chile
Toronto-based Rio Algom (TSE) will proceed with development of the Cerro Colorado copper mine in northern Chile after receiving approval from the Chilean Foreign Investment Committee. Cerro Colorado w…
Conference will focus on zinc
Critical issues facing the world’s zinc industry, such as recycling growth, environmental reform and changes in society’s use of such materials, will be on the agenda of an international conference Fe…
Barrick, Newmont team up at Post
After failing to merge his company’s gold-producing assets with those of Newmont Gold (NYSE), American Barrick Resources (TSE) Chairman Peter Munk has gone ahead and done the next best thing. Just six…
Australian firm joins hunt for Great Lakes diamonds hunt
A part owner of the world’s largest diamond producer, the Argyle mine in Western Australia, has acquired control of a diamond prospect on the Michigan-Wisconsin border. Melbourne-based Ashton Mining, …
Cliff dealings
Cliff Resources (TSE) reports it hasn’t decided to exercise its right to acquire a 100% interest in Teranov Mining, which owns a wet-process asbestos milling operation at Baie Verte, Nfld., under an a…
Kingswood hits gold-bearing veins
A drill hole recently completed on Kingswood Explorations’ (ASE) Devon gold property northeast of Matheson, Ont., intersected three narrow, steeply dipping quartz veins containing high-grade gold. Res…
PRODUCER PRICES; FUTURES PRICES; PDAC cites Sandy Lake to
A new agreement between the federal and Ontario governments and the Nishnawbe-Aski First Nation has caused a lot of problems for Sandy Lake Resources. The private company has been prospecting on minin…
METAL PRICES (February 10, 1992)
London Metal Exchange pot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Feb 4 Feb 3 Jan 31 Jan 30 Jan 29 Copper 1202-1203 1204-1205 1220-1221 1222-1224 1211-…
Ottawa sells more Cameco shares
The federal government has arranged to sell 5.9 million special warrants, or about 11.5%, of Cameco (TSE) to the public at $14.60 per warrant. Each warrant will entitle the holder to receive one commo…
Wrightbar, Soquem in option deal
A joint venture agreement has been reached between Wrightbar Mines (ME) and the Quebec government’s mining exploration company Soquem for exploration of Wrightbar’s Puiseaux Twp. gold property in nort…
Morning raid on St Lambert
Recently armed rebels known as the Touharegs attacked Canadian drilling company St Lambert’s camp in Takanamat, Africa, at 3 a.m. Although the crew members, from Quebec, did not suffer from any injuri…