NEWS ROUNDUP — New-found gold for New Island
Alberta-listed New Island Minerals has discovered a new gold zone on its Glover Island property in western Newfoundland. The discovery, called the Lucky Smoke zone, is about 8 km north of the Lunch Po…
Articles by Northern Miner Staff
Berry awarded Wilson Medal
The Canadian Geophysical Union (CGU) recently awarded its Wilson Medal to Michael Berry of the Geological Survey of Canada (GSC). The medal, named for the late J. Tuzo Wilson, is awarded annually by C…
THE DIAMOND PAGE — De Beers’ rough diamond sales point to
De Beers’ Central Selling Organization (CSO) sold US$2.6 billion worth of rough diamonds in the first half of 1994. This figure is 1.5% higher than the same period last year and a healthy 41.5% higher…
Strong new powers recommended for OSC
A task force studying the Ontario Securities Commission (OSC) is recommending broadening the regulator’s powers. The changes would allow the OSC, which oversees Canada’s largest securities market, to …
Princeton set to resume operations at Similco mine
The Similco copper mine near Princeton, B.C., will resume production in early August. The decision by owner Princeton Mining (TSE) reflects a 40 cents-per-lb. increase in the price of copper since ope…
Southern Pacific stakes Mexican copper
Southern Pacific Copper (VSE) has acquired the Toliman porphyry copper prospect in Mexico’s Chiapas state. It acquired the 3,600-hectare concession by staking after it was released from the federal re…
Starcore exploring platinum project
Drilling is expected to begin later this summer on the Goodnews Bay platinum project 420 miles southwest of Anchorage, Alaska. The program will be managed by Starcore Resources (VSE), a Murray Pezim-c…
Ft. MacKay deal nixed by Lac and Tintina
Three TSE-listed companies — Lac Minerals, Tintina Mines and NSR Resources — have ceased negotiations to pool land and jointly develop a gold exploration program in the Fort MacKay area of northeast…
STOCK MARKETS — TSE buoyant as metals continue rally
A larger-than-expected drop in the Bank of Canada key rate, coupled with a rise in the Canadian dollar, helped the TSE 300 index continue its mid-summer rally. On July 19, the TSE 300 index jumped 58….
STOCK MARKETS — De Beers-Yamba Lake deal stirs up western
Although strength in bond and currency markets managed to help major eastern indexes, western markets continued to track down over the report period ended July 19. The Vancouver Stock Exchange resourc…
FINANCING (July 25, 1994)
Rio Narcea Gold Mines, Ltd. — 3,850,000 units, each consisting of a common sh & a one-half of one sh purchas wt @ $1.15 per unit. Trader Resource Corp. — 11,997,000 units to be issued on the exercis…
GOLD FUNDS (July 25, 1994)
Gold Funds as of July 18 BGR Central Net Value $17.06 $6.74 Price $15.25 $7.125 Premium 5.7% Discount 10.60% Value $138,597,000 $128,957,513…