FINANCING (March 08, 1993)
Breckenridge Res. Ltd. — 1,000,000 units @ 65 cents per unit where each unit consists of 1 sh and 2 wts. 2 Series A wts to purchase 1 sh. Plus an over-allotment of 150,000 units @ 60.125 cents per un…
Articles by Northern Miner Staff
Cominco issue worth $12 million
A $12-million private placement by Cominco (TSE) will provide an cash infusion enabling Cominco Resources International (TSE) to advance projects in Turkey and Chile and meet ongoing requirements of t…
Crude steel output decreases
World crude steel production in 1992 totalled 714 million tonnes, off 3% from the 1991 amount, according to preliminary estimates by the International Iron and Steel Institute of Brussels. Output in t…
Jordex announces Bolivian sale
A decision by Jordex Resources (TSE) to sell stock interests in a Bolivian zinc company was attributed to the general zinc market decline. As a result, substantial losses are being incurred. Jordex ag…
Falconbridge drills near Matachewan
Falconbridge has begun a 3,500-metre diamond drill program on the Robertson Twp. base metal property 14 km north of Matachewan, Ont. The 135-claim property, owned 40% by Strike Minerals (CDN) and 60% …
USMX completes Goldstrike purchase
Although the purchase price was not disclosed, USMX (NASDAQ) reports it has completed the acquisition of the Goldstrike mine near St. George, Utah, from owner Tenneco Minerals. James Knox, president o…
Exploration funds move southward
Gold companies in the U.S. are moving large portions of their exploration budgets to Latin America, where government leaders are actively revising mining laws to attract foreign investment, according …
Correction (March 08, 1993)
Contrary to what appeared in an earlier story (T.N.M., Mar. 1/93), Kalrock Resources (ASE) and a private company controlled by Laurasia Resources (TSE) plan to amalgamate, subject to shareholder and r…
Echo Bay works to reduce Lupin costs
The struggle to stay profitable has intensified at the Lupin gold mine of Echo Bay Mines (TSE) as the gulf between production costs and market price narrows. Production costs at the mine, 250 miles no…
Rusty Lake options Minnova property
Rusty Lake Resources (CDN) has an option to earn half of Minnova’s (TSE) interest in the Big Duck Lake gold property, near Schreiber, Ont. The 145-claim property covers several gold zones that are ass…
Curragh offering worth $50 million
To improve liquidity, Curragh (TSE) is offering $50 million of convertible preferred shares to institutional investors. The new shares, which will be offered at $1.20 each, will be convertible into su…
Record Pegasus production
Record gold production combined with lower cash costs helped Pegasus Gold (TSE) report a record cash flow for the year ended Dec. 31, 1992. The company produced 382,100 oz. gold during the year from i…