Osborne receives buy-back approval
Osborne and Chapel Goldfields (TSE) has received final approval to purchase Odin Mining and Investment’s 48.6% interest in the company for US$1.65 million. Under the transaction, Osborne will retain a…
News
FUTURES PRICES (December 23, 1991)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Dec 98.40 97.60 98.15 + 0.80 Jan 98.10 97.35 98.00 + 1.00 Feb 97.75 97.75 98.90 + 2.00 SILVER (in US cents per oz…
Securities Dealers organize to improve public image
At a time when institutions and individuals aren’t lining up to buy speculative stocks, the broker dealers who sell those stocks in Ontario have set up an organization to improve their public image. T…
Crude buying 75% of Magnacon mill
After months of negotiations, Central Crude (TSE) has signed a letter of intent to purchase 75% of the Magnacon mill and related infrastructure near Wawa, Ont., from debt-ridden partners Flanagan McAd…
VSM, Serem hit sulphide-rich shear
Partners VSM Exploration (TSE) and Serem-Quebec have intersected a mineralized shear zone over more than 70 metres in Mountain Twp., Que. The structure, which contains 1-12% pyrite, 4-12% pyrrhotite (…
Tag offering
An offering memorandum has been filed with the Quebec Securities Commission for distribution within the province of a maximum of 325 units worth $1,000 each, Golden Tag Resources (VSE) says. Each unit…
Spot prices at a glance (December 23, 1991)
Week’s Price (US) Change Gold* $357.50 – $10.20 Silver* $ 3.89 – $0.12 Platinum* $348.75 – $19.35 Nickel** $ 3.24 + $0.01 Lead** $ 0.24 $0.00 Copper $ 0.98 – $0.02 Zinc $ 0.52 – $0.02 Courtesy of Scot…
Mountain Beaver active at Figuery
A second phase of drilling is scheduled to begin shortly on the Figuery project near Amos, Que. Mountain Beaver Resources (CDN) has an option to earn a 50% interest in the prospect by spending $4 mill…
NEWS IN BRIEF (December 23, 1991)
Pan Oceanic Ventures Inc. (PSV:VSE) has changed its name to Falcon Ventures International Corp. (FNV:VSE) with a consolidation of capital on a 1-new-for-8-old-share basis. The transfer agent is Pacifi…
Cameco increases reserves at McArthur River project
Recent drilling at the McArthur River joint venture has boosted probable in-situ reserves from 200 million to 260 million lb. of U3O8. The average grade of the deposit has increased from 4% to 5% U3O8…
INSIDER TRADING (December 23, 1991)
Pierre Gauthier, chairman of 52% owned Noranda (TSE) subsidiary Societe Miniere Louvem (TSE), recently profited by exercising stock options at a discount to the recent market price. According to the O…
Base metals the key as Yukon exploration spending rises 33%
Mineral exploration spending in the territory rose to $16 million this year from $12 million in 1990. Dennis Ouellette, a geologist with the Whitehorse office of the federal Department of Northern Aff…