FINANCING (November 07, 1988)
ONTARIO Montval Res — final rec iss offer 430,000 @ $1.30 per sh to net $279,000. Rave Res Inc — final rec offer 250,000 @ $1.50 per sh to gross $206,250. Turbo Res — final rec iss offer 80,000,000…
Articles by Northern Miner Staff
Flintrock results disappointing
Results from a gold exploration program being performed by Flintrock Mines (VSE) have been disappointing, the company says. Work on the company’s 12- claim property near Kirkland Lake, Ont., failed to…
Calpine cuts 96 ft of 0.7 oz gold
A significant new gold discovery has been made north of Stewart, B.C., by Calpine Resources (VSE), an affiliate of Vancouver-based Prime Capital. The property is 100%-owned by Consolidated Stikine S…
Cheni construction nearing completion
Surface construction at Cheni Gold Mine’s (TSE) Lawyers project north of Smithers, B.C., is almost complete, says Paul Girard, president. Equipment testing and commissioning for the company’s 550-ton-…
Cambior to produce from Pascalis Mine
A positive production decision has been made by Cambior Inc. (TSE) for its Pascalis Mine located 15 miles east of Val d’Or, Que. The production decision is the second made by Cambior this year and is …
Inco earmarks $100 million to open 2 Thompson mines
Still under fire for a recapitalization plan designed to fend off a hostile takeover, Inco Ltd. (TSE) is setting aside $100 million to sustain production in its Manitoba division. Over the next seve…
Battle Mountain earnings up
Low production costs and increased gold sales were responsible for a third-quarter earnings increase of 26% compared with last year’s result s, Battle Mountain Gold (TSE) says. Third quarter net incom…
Toronto Stock Exchange Market slips in spite of gold’s breakout to
The price of gold today climbed more than $10 with New York’s Comex November contract closing at $421.80(US) and most of Toronto’s gold issues followed. But that wasn’t enough to carry the entire TSE…
SMDC merger
The merger of the Saskatchewan Mining Development Corp and Eldorado Nuclear has been completed. SMDC is a provincial mining company whereas Eldorado is federally owned. Renamed Cameco, A Canadian Mini…
Cannon gold boosts Asamera bottom line
Forward selling of gold produced from the Cannon mine in Wenatchee, Wash., has given Calgary- based Asamera Minerals (TSE) a financial boost. The company recently reported that net income for the firs…
Formal Production Decision for Samatosum
With all government approvals in hand, the board of Minnova Inc. (TSE) recently made a formal decision to bring the Samatosum project near Adams Lake, B.C. into production. The company has a 70% inter…
Aur buys property
Aur Resources (TSE) has acquired a base metals prospect from Abbey Exploration (TSE). The 12-claim property, known as the Lugold, is located near Val d’Or, Que. Aur purchased the 100% interest for $12…