Alberta Stock Exchange Eden Roc gets financing
Following the release of a new reserve estimate for its gold property in Ivory Coast, Eden Roc Mineral has managed to line up financing to develop the project. The Africa Growth Fund has agreed to inv…
News
FINANCING (January 07, 1990)
Founder Resources Inc — 910,000 units offered at 45 cents per unit. Pricam Explorations Inc — 700,000 shs offered at 35 cents per sh with a minimum subscription of 700,000 shs required.
Fund pledges US$2.5m for Marshall’s Ivory Coast bet
Marshall Minerals (ASE) and 67% owned subsidiary Eden Roc Minerals (ASE) have made some headway in their bid to finance construction of a heap leach gold mine on the Ivory Coast of West Africa. Accord…
Coral to sell Loco property
An agreement was reached between Coral Gold (TSE) and Avino Mines and Resources (VSE) over the sale to Avino of the company’s 30% interest in the Loco property. Avino will pay Coral $278,000 in cash p…
Imperial breaking even
Net earnings for the quarter ended Sept. 30 put Imperial Metals (TSE) at the break-even point with a gain of $40,000 on revenues of $1.1 million. The company reported a loss of $165,000 for the six mo…
Avondale drops Inco project
After completing over $2.5 million in expenditures on the Inel property, Avondale Resources (VSE) has elected to terminate its option agreement with Gulf International Minerals (VSE). Under the terms …
Vangold reactivated
After lying inactive, Vangold Resources (VSE) is back in business with the completion of a private placement of 300,000 flow-through shares at a price of 50 cents per share. Non-transferable share pur…
Atlanta allows Newmont option
Shareholders of Atlanta Gold (TSE) voted in favor of optioning the company’s Idaho properties to a unit of Newmont Mining (NYSE). Newmont can earn a 51% interest by making staged cash payments totalli…
GOLDFUNDS (January 07, 1990)
MVP BGR Central Net value $9.52 $5.40 Price $8.13 $4.900 Discount 14.60% 9.3% Value $56,655,075 $82,439,070…
Asarco buys out Wiluna partner
The Australian subsidiary of Asarco (NYSE) has acquired full ownership of the Wiluna gold mine in Western Australia. Asarco Australia, 60% owned by its New York-based parent, bought the 50% interest i…
Ways to attract qualified recruits
Patrick MacCulloch will address the audience at a dinner sponsored by the Toronto branch of the Institute of Mining, Metallurgy and Petroleum, Jan. 24. Billed as a “students’ nite,” the meeting focuse…
Quintette seeks major concessions from creditors
A reorganization plan filed with the Supreme Court of British Columbia by Quintette Coal reveals the company is asking its creditors to write off in the order of $485 million in debt. The writeoff wou…