News in Brief (April 27, 1987)

Starmark Resources has changed its name to Transglobe Resources on a 1-new-for-3-old share basis.

tse-listed Durham Resources has changed its name to Landmark Corp. Effective April 21, trading in the company’s subordinate voting shares was under the new name.

The share purchase warrants of Cassiar Mining Corp. which were posted for trading on the tse on May 22, 1986, expire at 4:00 pm, Vancouver time, on April 30, 1987.

Discovery West Corp. has completed a private placement of convertible subordinated notes in the principal amount of $7 million. The notes are convertible into 8% convertible subordinated debentures of Discovery and the debentures are convertible into an aggregate of 3.5 milion common shares of Discovery. Of the net proceeds, $4.35 million will be used to purchase convertible subordinate notes of Rayrock Yellowknife Resources with the remainder invested in short term income producing securities.

For the year ended Dec 31, Conwest Exploration posted a net income of $9.5 million or 75 cents per share on revenues of $27.2 million. This is down from the $14.7 million or $1.30 per share posted on revenues of $33 million in 1985. However, cash and commercial paper at the end of 1986 is up at $12.4 million from $4.9 million posted at the end of 1985.