LynnGold to raise $4 m through equity issue
To satisfy new capital spending requirements LynnGold Resources (TSE) will be looking to raise more than $4 million via an equity issue, shareholders learned at the company’s annual meeting. Peter Goo…
News
North American Rare Metals 4 cents **
North American Rare Metals (ME) reported a net loss of $52,970 or 0.4 cents per share for the 6-month period ended Feb 28. In the same period last year the company reported a net loss of $108,544 or 1…
News in Brief (June 05, 1989)
Ansco Resources (B.C.) has changed its name to Sunstate Resources Ltd. (SUT:VSE) on a 1- new-for-3-old share basis. Transfer agent is Pacific Corporate Services Ltd.
Metall completes purchase of Copper Range operation
Toronto-based Metall Mining (TSE) recently completed the acquisition for $83 million of Michigan copper producer Copper Range Co. The purchase by merger deal establishes Metall as a fully fledged oper…
Bunker Hill drilling returns good intercept
Underground drilling has encountered a probable extension to the Quill zone at the Bunker Hill zinc-lead-silver mine at Kellogg, Idaho (N.M., May 22/89). Bunker Hill Mining (VSE) re-activated the oper…
Bitech starts Betts Cove work program
An exploration crew has been mobilized by Bitech Corp. (ASE) to begin a $350,000 work program on the old Betts Cove mine property in Newfoundland. The Betts Cove property hosts one of the province’s o…
Quebec recognition
Five mining companies and a veteran prospector were recently recognized by the Quebec government for their contributions to the mining industry. Premier Robert Bourassa and Raymond Savoie, minister re…
Canpotex sales to China a model of marketing
If anyone could convince the miners of Canada that Asia and the Pacific Rim are ripe for renewed marketing efforts, that someone is Canpotex Ltd. President Erik Ekedahl. The story of his company’s sta…
Bidger to build gold mine in Chili
A Chilean firm has been contracted to build a 200 ton-per-day mine and mill complex for Bridger Resources’ (VSE) on the company’s La Pepa gold property in Chile. Vancouver-based Bridger recently signe…
Eagle River Hemlo’s future `cornerstone’
The fast-developing Mishibishu gold camp, 32 miles west of here, is expected to make a significant contribution to Hemlo Gold Mines’ (TSE) investment objective of doubling its revenues within the next…
Drilling cuts PGM values at Big Trout Lake property
International Platinum Corp. (TSE) has drilled its best holes ever on the Big Trout Lake platinum- palladium property in Ontario. Five of tens holes intersected platinum- palladium values in excess of…
Metal Prices PRODUCER PRICES (June 05, 1989)
ALUMINUM: MW U.S. Market US94.50 cents – 98.50 cents per lb. (May 25, 1989). ANTIMONY: New York dealer US95 cents -99 cents per lb. (Apr 27, 1989). BISMUTH: New York dealer $6.30-$6.45(US) per lb (Ma…