INSIDER TRADES (September 26, 1988)
Breakwater Res — R. A. Bruce McDonald sold (private) 144,217 to hold nil. B-Mac sold 565,426 (private) to hold nil. Noramco Cap sold (private) 1,890,357 to hold 55,514. Denison — P. Kostiuk sold 10,…
News
Franco takes for sale sign off Goldstrike royalty bet
Toronto-based Franco-Nevada Mining (TSE) has taken the For Sale sign off its Goldstrike royalty asset. Priced at $180 million, Franco- Nevad a’s 4% net smelter return and 5% net profit royalty in …
Minorco offers $6.6 billion for Consolidated Goldfields
Luxembourg-based Minorco has commenced what promises to be a titanic bidding war by announcing a $6.6 billion(US) offer for all the outstanding shares of Consolidated Goldfields of London. Minorco alr…
Indian band halts Eldor’s drilling
An Indian band in northwestern Ontario recently put a halt, temporarily at least, to drilling by operator Eldor Resources on property at Windigo River. According to Staff Sgt. Reg Weeks of the OPP det…
Letters to the Editor NovaGold’s fatal flaw
Leaving aside the negative impact of the Western Mining-Seabright Resources dispute, the dragged-out uncertainly over flow- through and the general skepticism over Nova Scotia gold prospects, the Nova…
Editorial What’s in a name?
The Mining Association of Canada’s initiative in calling for a major research program to improve the management of mines’ tailings is an important one. Raising the issue and offering to pay a major pa…
Feasibility Study Near For QR Gold Deposit
A $1-million program ending in a feasibility study on the QR gold deposit near Quesnel, B.C., is scheduled for completion in early 1989 by QPX Minerals (VSE). According to Tim Ryan, president, a produ…
Quebec prospectors contemplate industry slowdown
Delegates to the annual convention of the Quebec Prospectors Association (QPA) staged here recently are preparing themselves for a period of transition after a year which saw a boom in mining explorat…
Cominco Debt Trimmed
During the first half of 1988, Cominco Ltd. (TSE) earned $78.5 million (91 cents a share) before including an extraordinary gain of $1.7 million, as compared with a profit of $25.9 million (24 cents …
Imperial puts Esso Minerals assets on sale
Imperial Oil has announced plans to sell Esso Minerals Canada so it can concentrate corporate resources on the energy related, petroleum product and chemical businesses. Esso would prefer to sell its …
McKinnon, Larche to be questioned at Lac hearing
Prospectors Donald McKinnon and John Larche are scheduled to appear at an Ontario Supreme Court hearing in which Lac Minerals (TSE) is trying to get a retrial of its court case with Corona Corp. (TSE)…
Varna encouraged by Newfoundland values
Calgary-based Varna Gold (ASE) says it has encountered some encouraging gold values at its wholly- owned Mings Bight property on Newfoundland’s Baie Verte Peninsula. Following a program which included…