Houston-based Shoreham Resources (VSE) says overburden removal will re-commence this month on its placer gold-tin property in Alaska, where initial production of gold and tin is scheduled for mid-1989. Shoreham expects to produce 3,000 oz of gold and 30,000 lb of tin from its Cache Creek placer mine this year. Production financing will come from the company’s $450,000 initial public offering, which took place earlier this year.
First Toronto Mining (TSE) intends to sell its 46.4% interest in Canadian Arrow Mines (TSE) to John Larche of Timmins, Ont. The purchase price will be 114% of market price for the 26 days prior to the date of the agreement. The sale is subject to regulatory approval.
A B S Resources has changed its name to A B S Technology Ltd. (ABL:VSE) on a share-for-share basis. Transfer agent is Montreal Trust Company.
ASARCO Inc. has increased the dividend on the common stock to 40 cents per share from the 30 cents paid in the first quarter of 1989. The dividend is payable June 1 to shareholders of record May 8.
Freeway Resources has changed its name to GRD Industries (GID: VSE) on a 1-new-for-2-old share basis. Transfer agent is Montreal Trust Company.
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