Noranda ups Butte stake
Noranda Inc. (TSE) has purchased a further 300,000 shares of Crown Butte Resources (VSE), raising its stake in Butte to 26.5%. The deal, an off-market transaction, was exercised under a share option a…
News
Metal Prices FUTURES PRICES (May 08, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) May135.00 131.10 131.25 — 7.05 Jul130.10 127.10 127.40 — 8.00 Sep126.50 123.50 1…
Kam-Kotia capable of paying loan
Toronto-based Kam-Kotia Mines (TSE) has enough cash on hand to pay off a $3.5 million bank loan it negotiated a year ago to help acquire a sodium sulphate business in Saskatchewan, President John Kach…
Books (May 08, 1989)
Canadian Mines: Perspective from 1988 — Production, Reserves, Development and Exploration. Mineral Bulletin MR 221. Prepayment $9(C); other countries $10.80(C) Canadian Government Publishing Centre, …
Dolphin expands Nfld. land holdings
Three potential gold-bearing claim blocks have been added to the property inventory of Dolphin Explorations (TSE) in southwestern Newfoundland, the company reports. The Phillips Brook extension, a 46-…
Cons. Silver Butte in gas exploration
Consolidated Silver Butte Mines (VSE) has begun to diversify into the petroleum and natural gas business. The company recently acquired a 10% working interest in six sections of oil and gas lands in s…
Louvem in default of gold payment
Quebec gold producer Louvem Mines (TSE) reports that it is in default of a deposit of 1,440 oz gold to a reserve fund which should have been deposited with a trustee by April 1. Louvem says it will as…
CEIP to host workshops
A series of workshops is being scheduled by Energy, Mines and Resources Canada to help prospectors and mining executives understand key features of the Canadian Exploration Incentive Program (CEIP). A…
Armistice testing deep Kerr zone
The drilling of the first of several deep holes from the 2250 level to test the Kerr zone is under way at the Virginiatown, Ont., gold project of Armistice Resources (ME). The holes are part of a 35,0…
Teck buying more GKR
The Toronto Stock Exchange has accepted a notice of intention from Teck Corp. (TSE) to purchase shares of Golden Knight Resources (TSE) and Trilogy Resource Corp. (TSE) on the open market. Teck may pu…
AquaGold financing
AquaGold Resources (ASE) recently raised $250,000 through CMP 1989 Resource Partnership to fund exploration on the company’s Newfoundland projects. President William MacPherson says an airborne geophy…
Cominco Res. looks for more than gold
Cominco Resources International (TSE), the 58.6%-owned subsidiary of Cominco Ltd. (TSE), “will be as much a base metals company as a precious metals one,” President George Tikkanen told the annual mee…