DRX calls meeting of McFinley Mines
New York-based DRX Inc. (NASDAQ) has called for a special meeting of shareholders of McFinley Red Lake Mines (TSE) in Toronto, June 12. DRX, which controls over 800,000 common shares of McFinley, r…
News
Hayes, LynnGold share swap
Hayes Resources (TSE) has been instructed by its board of directors to consider distributing to its shareholders common shares of LynnGold Resources (TSE) held by the company. The proposed distributio…
Goldcorp wins ownership fight for Dickenson and Kam-Kotia
The new owner of Dickenson Mines (TSE) and its sister company Kam-Kotia Mines (TSE) is Toronto-based gold fund Goldcorp Investments Ltd. Goldcorp won the takeover fight for the two companies when riva…
Newmont debt totals $1.2 billion despite asset sales in 1988
The sale of a number of key assets generated almost $1.2 billion in pre-tax dollars for Newmont Mining Corp. (NYSE) during 1988; but at year-end its debt load was still $1.2 billion, a $700-million dr…
Second life for old mine
A zinc-copper mine in eastern Nevada could be up and running again this year after a 109-year shutdown. The Ward Mountain property, which can trace its beginnings back to 1870, was operated for 10 yea…
Aur suing over Louvem deal
Foiled in its attempt to gain control of Louvem Inc. (TSE), Toronto- based Aur Resources (TSE) is taking to court Louvem and the Quebec gold producer’s major shareholder, St. Genevieve Resources (TSE)…
BHP-Utah drilling Caprock property
A large follow-up drill program is planned by BHP-Utah International on Caprock Corp.’s (NASDAQ) North Park polymetallic property in Colorado. Caprock says results from a recently completed work progr…
News in Brief (April 24, 1989)
Teeshin Resources (VSE) has negotiated a private placement for $400,000 with California Placer Resources (1986) Ltd. Subject to regulatory approval, Teeshin will issue 727,272 units consisting of one …
Gold funds as of April 18
BGR Goldcorp Central MVP Capital Net value$12.05 % 9.08% 6.51% 0.70 Price$ 9.50 % 4.80 % 5.88% 0.45 Discount$21.16% 47.1 % 9.8% 35.7% Value$71,752,706.16 159,253,000 …
LAC plans `slower, safer’ spending
With LAC Minerals (TSE) not expected to improve on its record 1988 gold production of 319,407 oz gold production until 1990, a quieter year for the company is expected in 1989. President Peter Allen t…
Editorial The right to mine
The following is from a presentation on mining law in Canada by Reginald Tays, property manager at Falconbridge Ltd. Most prospectors have always felt that if they acquired title to a mining claim, …
TSE asked to delay Jascan Res. ruling
While Jascan Resources (TSE) and affiliate Atlantic Goldfields (COATS) discuss a possible merger, the companies have asked the Toronto Stock Exchange to defer its decision on whether to allow Jascan t…