Mineta options claims to Corona
A joint venture agreement between Mineta Resources (VSE) and Corona (TSE) will give the latter company the right to earn up to a 75% interest in the Golden Loon claims by spending $1.2 million on the …
News
Hydra entitled to royalty on Nighthawk
As part of a revised agreement with Pamorex Minerals (TSE), Hydra Explorations (TSE) will relinquish all title to the NightHawk Lake property near Timmins, Ont., in exchange for $45,000 and a royalty …
Princeton surveys potential for Similco reserve expansion
When a predecessor company to Princeton Mining (TSE) acquired the Similco open pit copper mine near this picturesque community in June, 1988, it was with a view to provide a much- needed diversificati…
Flagship steers away from mining sector
Unable to turn a profit in the mineral exploration sector, Flagship Resources (COATS) has joined an ever growing number of over-the-counter companies to abandon their mining interests. Flagship is neg…
U.S. lifts ban on Soviet nickel exports
The U.S. will begin to import nickel from the Soviet Union, following an agreement between the two countries to end a 7-year-old ban. The agreement, effective June 28, allows the Soviet Union to expor…
Eden Roc funding
Toronto-based Eden Roc Mineral (ASE) has raised a total of $300,000 by way of a private placement to a European institutional investor. The placement involved 600,000 shares at a price of 50 cents per…
Hard-pressed juniors try new business ventures
The demise of flow-through financing has been particularly damning for junior resource companies that trade on the over-the- counter exchange in Ontario. In the past six months, several juniors have t…
Alberta Stock Exchange Adrian benefits from rumored results
Over the past six months, shares of Ontex Resources have quietly moved up above the $1.60 level from below $1 in March. During the week ended July 31, Ontex gained 15 cents to close at $1.65. The gain…
De Beers strikes deal with Soviets
The new Swiss subsidiary of De Beers Consolidated Mines has swung a deal with the Soviet Union which gives De Beers a 5-year contract to sell the latter’s rough diamond production. Soviet production f…
Gold and copper prices rebound
The all-commodity price index of Scotiabank rose slightly in June, but the metal and mineral sub-index headed the other way as the price of gold dropped. The past few weeks have seen a rebound in the …
Cyprus first-half earnings slip
For the first six months of 1990, Cyprus Minerals (NYSE) reported earnings of US$55.5 million, or US$1.17 per share, on revenues of US$894.8 million. The earnings were affected by a pretax US$27.5 mil…
Belmoral to eliminate debt through asset sale to Aur
For the second time this year, Belmoral Mines (TSE) and Aur Resources (TSE) have worked out a deal designed to rescue Belmoral from its financial predicament and expand Aur’s influence in the Val d’Or…