Nuinsco completes financing deal
Under a new agreement, Nuinsco Resources (TSE) will reduce its working capital deficiency to $840,000 from $3.5 million. The company will sell 2.4 million treasury shares to Winoro, an investment comp…
Articles by Northern Miner Staff
TR Minerals to be reorganized
Alberta-listed TR Minerals is seeking shareholder approval to reorganize. Under the plan, TR would acquire the mineral assets of two private companies, consolidate shares, raise financing, delist from…
$11m. for Peruvian company — Cambior, Southwestern buy gold
Joint-venture partners Southwestern Gold (VSE) and Cambior (TSE) have reached a purchase agreement with the owners of Peruvian resource company Minera Paraccay. Minera Paraccay owns the Santa Rosa gol…
PEOPLE — MERLIN RESOURCES
Antal Markus appointed president and director.
Central Crude makes payment
Central Crude (TSE) has made an option payment of $175,000 to Storimin Exploration (ASE) and Tandem Resources (ME). The payment is part of an agreement among Central and the other two companies whereb…
Kensington funding
A private placement of 4.5 million special warrants will net Kensington Resources (VSE) about $3.1 million. The company will use the proceeds to explore its diamond prospects in Saskatchewan. Each spe…
Ontex-Metalore lawsuit resolved
After seven years of legal battles, the lawsuit between Ontex Resources (ASE) and Metalore Resources (TSE) over the Brookbank gold property in northwestern Ontario has finally been resolved. The end c…
NEWS ROUNDUP — Sutton placement
A private placement of 316,305 units at $25.50 each will net Sutton Resources (VSE) about $8.1 million. Each unit includes a share, plus a 2-year purchase warrant exercisable at $25.50 in the first ye…
Drilling by Int’l Larder hits gold at Colorado play
A surface drill hole on International Larder Minerals’ (CDN) Cross mine property near Denver, Colo., has intersected gold mineralization. The hole, drilled to test the south side of a mineralized zone…
Atlas hoping ’94 a turnaround year
After three years of continuous losses, Atlas (NYSE) has adopted a plan to lift itself out of the red in fiscal 1994. The turnaround strategy is being implemented by a new management team headed by St…
Sampling at Keylock’s Slovak property yields gold
Favorable results have been obtained from preliminary exploration of Keylock Resources’ (ASE) gold property in the Slovak Republic. The program consisted of mapping, trenching, channel and chip sampli…
NEWS ROUNDUP — Aur sells shares
Underwriters Richardson Greenshields of Canada and Wood Gundy have agreed to sell five million shares of Aur Resources (TSE) at $5.60 per share. Teck (TSE) and Cominco (TSE), which hold a pre-emptive …