Royex taking centre stage
When the Royex Mining group of companies announced its plan to amalgamate and form what could be Canada’s third largest gold producer, the story gained quite an audience but no one expected the show w…
News
Belmoral reports increased income
Net income of $2.25 million (6 cents per share) was reported by Belmoral Mines (TSE) for the first quarter of 1988, compared with $1 million (4 cents per share) for the same period last year. Revenues…
Lac, Queenston proceed on Kirkland West project
One of the most promising exploration plays in the Kirkland Lake, Ont., gold camp will undergo a major underground exploration program this spring. Following a series of discussions on a joint venture…
Goldplex drilling Courageous belt
A private Toronto-based company that went public last August when it raised $480,000, Goldplex Development Corp. (ASE) is currently concentrating its exploration activities on the Courageous Lake gold…
Continental acquires Trophy gold claims
Continental Gold Corp (VSE) has acquired a 100% interest in the Trophy gold property located 70 miles southwest of Dease Lake, B.C. The property covers 60 square miles of ground which was prospected l…
Amir, Glamis drill California gold bet
A 10,000-ft drill program completed by Glamis Gold (VSE) and Amir Mines (VSE) on lands they are joint venturing in Imperial Cty., Calif., has resulted in discovery of a new gold deposit, Amir Presiden…
La Sarre sued
La Sarre Mining Exploration (ME) of Rouyn-Noranda, Que., reports it is being sued by a private landlord for $305,806 for alleged damage to trees during an exploration program on La Sarre property in n…
N.W.T. gold production could leap to 580,000 oz
Two years from now, gold production from the Northwest Territories could be 50% higher than the 379,706 oz poured in 1987. The sudden increase hinges on plans by Neptune Resources Corp. (TSE) to build…
Onitap, Orex deal
A formal agreement has been completed between Onitap Resources (TSE) and Exploration Orex (ME) which gives Orex the right to earn a 50% interest in Onitap’s Goldboro property in Nova Scotia. Orex can …
Lac pursuing out-of-court settlement
While Lac Minerals (TSE) and International Corona Resources (TSE) have been fighting in court over ownership of the Williams gold mine in northern Ontario, the two sides have also been talking to each…
Falconbridge’s woes mean neckel prices could stay high
The suspension of production at the ferronickel-producing subsidiary of Falconbridge Ltd.(TSE) in the Dominican Republic, has raised the possibility of further nickel price hikes. The move by Falconbr…
Vior, Goldhurst arrange placement
Vior Inc. (TSE) and Goldhurst Resources (VSE) have agreed to make a private placement involving 750,000 shares of Goldhurst at 30 cents each and a one-year option on an additional 100,000 shares at 3…