Parlake options (December 17, 1990)
The shareholders of Parlake Resources (TSE) have approved a proposal to grant options to the president and one director of Parlake. Under the incentive program, the Parlake officers will hold options …
News
FINANCING (December 17, 1990)
Dundee Resources Corp. — 1,800,000 shs offered @ 17 cents per sh. Sundance Resources Ltd. — 2,000,000 shs offered @ 27 cents per sh. Mountain Beaver Resources Ltd. — 2,700,000 units consisting of 1…
Debt costs squeeze Noranda – Hemlo may go on the block
Toronto-based Noranda (TSE) may begin selling off core assets including Hemlo Gold Mines (TSE) if cost-cutting measures fail to contain the company’s $3.9-billion long-term debt. Senior executives at …
Editorial Setting aside funds for mine closure
When an orebody is depleted, mining companies have to ensure safe and complete mine closure, but that responsibility cannot be at such a cost that the mining operation itself becomes uneconomic. Miner…
Onitap and Orex settle dispute
Juniors Onitap Resources (TSE) and Exploration Orex (ME) announced at presstime they have settled their legal dispute concerning the Goldboro gold property in Nova Scotia. Orex, which initiated the la…
AMC/NCA to improve communication skills
A national mining industry communications workshop will be held at the Westin-Tabor Center in Denver, Colo., March 5-7. The workshop is sponsored by The American Mining Congress and the National Coal …
Hislop bet yields mixed assays for Glimmer, Noranda
A mixture of high- and low-grade gold assays have been reported by partners Glimmer Resources (VSE) and Noranda (TSE) from recent follow-up drilling on their Beatty-Hislop joint venture near Matheson,…
Spot prices at a glance (December 17, 1990)
Week’s Price (US) Change Gold* $377.30 — $7.45 Silver* $4.15 + $0.04 Platinum*$429.75 + $3.00 Nickel** $3.70 + $0.03 Lead** $0.29 — $0.02 Copper- $1.11 — $0.02 Zinc– $0.56 — $0.01 Courtesy of Sco…
Toronto Stock Exchange Metal stocks up as Noranda tightens purse
Base metal stocks continued to benefit from the prospect of lower interest rates and the likelihood of a peaceful solution to the Gulf crisis during the week ended Dec. 11. The big producers including…
Davidson purchase
An agreement to purchase the shares of private Ontario company Aurora Steel Services for $2.17 million has been concluded by Davidson Tisdale Mines (TSE), the mining company reports. Aurora manufactur…
Nooramex drilling Bunce gold project
A $500,000 drill program operated by Noramex Minerals (VSE) is now under way on the Bunce gold property in Pershing Cty., Nev. Funds for the reverse circulation drilling program were provided by Annab…
Hanson sells Newmont shares
Acquisition from Hanson PLC of London of a 42% interest in Newmont Mining (NYSE) for US$1.1 billion has been completed, General Oriental Investments of Grand Cayman Islands reports. At the same time, …