News in Brief (February 22, 1988)
A proposed merger between Central Crude Ltd. and Noront Resources has been cancelled, both companies say.
News
Skylark to drill Carlin property
A drilling program is being planned by Skylark Resources for the company’s Pan gold property located near Carlin, Nev. The drilling will begin following the completion of a geophysical survey designed…
United Gunn shares Cuisson Lake profits
A 30% equity interest in Cuisson Lake Mines has paid off for United Gunn Resources in 1987. The company’s share of profits from Cuisson Lake’s earnings amounted to $950,000. United Gunn repaid its deb…
Newmont output 1.6m oz by 1990
When a gold mining company has enough reserves in the ground to overtake North America’s largest producers, it can afford to be extravagant. That’s why New York-based Newmont Gold will spend $404 mill…
Mooseland gold triples, Acadia
As expected, Donald Smith, president of Acadia Mineral Ventures of Toronto has increased the reserve estimate on the company’s Mooseland property in Nova Scotia. Speaking at a meeting of Maritime inve…
CSA soliciting proxies in fight against Equity board
A proposed plan to merge two closed-end flow-through investment funds into an operating mining finance house, is being opposed by CSA Management Ltd. Officers of Equity Preservation Corp. and Equity R…
METAL MARKETS Lower costs aid producers
Learning to survive with low copper prices for most of this decade made the return last year to higher metal prices even sweeter for North American copper producers. Among those reporting sigificant g…
Editorial No more mules, anyway
The other day a large ad appeared in a major Canadian daily newspaper portraying a “prospector” (it was actually an ad for a computer firm) with all the usual visual cliches — a grizzled, bearded, ro…
La Fosse purchase
Iron ore mining leases in northern Quebec belonging to Hollinger North Shore Exploration have been acquired by La Fosse Platinum. La Fosse gained control of the leases, which also contain manganese an…
New lease on life for New Kelore
Dormant for a period of time prior to 1987, Toronto-based New Kelore Mines is getting a new lease on life. Speaking at the annual meeting attended by two registered shareholders, President Stephen Cas…
Alberta Stock Exchange Investors in mood
After a period of low trading activity, investors were back in a buying mood this week. Large blocks of the Jen-Tek Energy and Exploration, Frost Resources and Seadrift International crossed the floor…
Cream Silver drilling sparks environmental uproar at Strathcona
After a 14-year moratorium, Cream Silver Mines was testing the environmental waters when it started drilling a 5-hole program on its polymetallic deposit in Strathcona Park on Vancouver Island. The wa…