Norcan arranges new financing
VSE-listed Norcan Resources has announced a private placement of 500,000 units at 60 cents each. A unit consists of one share and one warrant that entitles the holder to buy one additional share for 6…
News
Bre-X drilling Indonesian prospects
At the Busang project in East Kalimantan, Bre-X Minerals (ASE) has intersected gold mineralization in 22 of 31 holes over a strike length of 750 metres. Significant intersections of holes drilled to a…
Globex options U.S. gold plays
Montreal-listed Globex Mining has opted to acquire two gold properties in the western U.S. As consideration, Globex granted a net smelter return on each property payable if the gold price rises above …
BOOK REVIEW — Ontario’s rocks
Rock ONtario, published by the Ministry of Northern Development and Mines. Contact: Mines and Minerals Information Centre, Room M2-17, Macdonald Block, 900 Bay St., Toronto, Ont. M7A 1C3, or Publicati…
ODDS’N’SODS — The benefits of mining
Mine-finding is perhaps the most difficult and financially hazardous task undertaken in the industrial world. Success requires supreme dedication or phenomenal luck, or some part of both. Few people u…
TVX buys stake in Czech property
Toronto-based TVX Gold (TSE) has acquired a 90.5% equity interest in a Czech company which holds the Kasperske Hory gold property. Situated 160 km southwest of Prague in the Czech Republic, the proper…
Southern Copper looks to grow
A feasibility study on the Oracle Ridge copper mine, near San Manuel, Ariz., calls for current output to be doubled. Southern Copper (VSE) mines and processes 1,000 tons per day from the underground o…
Spot prices at a glance (October 10, 1994)
Week’s Price (US) Change Gold* $392.15 – $5.35 Silver* $5.60 – $0.10 Platinum* $417.50 – $1.90 Nickel** $2.90 – $0.02 Lead** $0.29 + $0.01 Copper $1.14 – $0.02 Zinc $0.47 + $0.01 Courtesy of Scotiaban…
DIAMOND PAGE — Drilling intensifies as Camsell Lake partners
Drilling is under way at the Camsell Lake project in the Northwest Territories, with the first 1,000-ft. hole now half-completed. The hole was collared in kimberlite at a 45 angle and reportedly is st…
Broker disclosure required in U.S.
Brokers in the U.S. must now disclose to their customers any payments they make to market makers to execute the orders of customers. The Securities and Exchange Commission in Washington recently appro…
Wrightbar, Charlim plan new company
A new company is to be formed, combining some of the gold and lithium properties held by Wrightbar Mines (ME) and Charlim Resources (VSE). Wrightbar shares will be consolidated on a 2-for-1 basis, aft…
Aggressive growth strategy — Kinross to acquire Ridgeway
Having agreed to buy the Ridgeway mine near Columbia, S.C., Kinross Gold (TSE) is poised to generate 500,000 oz. gold and gold equivalent per year. It will acquire the mine by buying Kennecott Ridgewa…