Echo Bay sets Swiss bond terms
Denver-based Echo Bay Mines (TSE) recently started to convert its Swiss franc 3.87% bonds due 1996 into common shares. The conversion offer will expire Oct. 28. At the option of the bondholders, each …
Articles by Northern Miner Staff
Cheni slips into red
A drop in head grades at the Lawyers mine in north-central British Columbia pushed first-half results into the red for mine owner, Cheni Gold Mines (TSE). The company reported a loss of $1.7 million f…
Renabie first to test Ontario’s new closure rules
Ontario’s first postwar gold mine, the Renabie mine about 200 km west of Timmins, Ont., is about to register another milestone — the first mine closed under the province’s new rules of the revised pr…
Minnova, Rea go underground at Samatosum
Underground mine development is scheduled to begin shortly at the Samatosum mine near Adams Lake, B.C. The mine is 70% owned by Minnova (TSE) and 30% owned by Rea Gold (TSE) which also holds a 5% net …
Trimin ready to back Rea with $6.5-million investment
If a recently announced deal is completed, Rea Gold (TSE) could receive up to $6.15 million in financing from Trimin Resources (TSE). Under the agreement, a wholly owned subsidiary of Trimin will buy …
Gold funds (August 05, 1991)
BGR Central Net Value $9.12 $5.18 Price $8.375 $5.000 Discount 8.13% 3.5% Value $54,278,513 $84,121,500…
Drilling continues on SIB claims
More assay results were released by equal partners Silver Butte Resources (VSE) and American Fibre (VSE) from ongoing drilling on the SIB claims in the Eskay Creek region north of Stewart, B.C. The cl…
Vancouver Stock Exchange (August 05, 1991)
The VSE managed to reverse its prolonged downward trend during the period ended July 30. The composite index added 6.36 points to finish at 562.32, and the resource index followed suit with a 5-point …
South Atlantic arranges funding
A recently arranged private placement of 538,462 shares at the price of 65 cents per share will net South Atlantic Ventures (VSE) about $336,000 after commissions. The placement was purchased by Westm…
INSIDER TRADING (August 05, 1991)
Ivanhoe Capital, a holding company controlled by Vancouver promoter Robert Friedland, recently sold a significant portion of its Fairbanks Gold (VSE) shares. Last month, Ivanhoe, which owns approximat…
Cominco’s quarterly profit down sharply from last year
A consolidated profit of $7.3 million was reported by Cominco (TSE) for its 1991 second quarter ended June 30, compared with earnings of $23.2 million in the second quarter of 1990. The Mining and Int…
Westmin decides to mine Gap zone at Myra Falls
Management of Westmin Resources (TSE) recently decided to start development access of the Gap zone from the 18 level in the H-W mine at its Myra Falls mining operation near Campbell River, B.C. The Ga…