Vengold results cause investor concern
Although the junior has expressed encouragement over drill results from its Venezuelan properties, shares of Vengold (TSE) took a tumble, dropping $2.25 to close at $5.50, following news of the result…
News
Inco debenture offering grows
The size of a debenture offering (T.N.M., June 27/94) being made by Inco (TSE) in the U.S. has grown to US$172.5 million from US$150 million. Underwriter Morgan Stanley has exercised its option to buy…
Two miners killed at Eagle Point
Two miners were killed at the Eagle Point uranium mine in northern Saskatchewan when a large piece of rock fell off the side wall. Project operator Cameco (TSE) closed the underground area pending an …
NEWS IN BRIEF (July 18, 1994)
Golden Sky Resources (GLF:VSE) has changed its name to Golden Sky International on a share-for-share basis.
GOLD FUNDS (July 18, 1994)
Gold Funds as of July 11 BGR Central Net Value $17.00 $6.80 Price $15.50 $7.25 Premium 6.6% Discount 8.82% Value $138,122,000 $131,219,925…
McChip buys back 5% of issued shares
Junior McChip Resources (TSE) will make a normal course issuer bid. The bid will allow McChip to make purchases not to exceed 250,954 common shares, representing 5% of the outstanding common shares in…
High taxes, land-tenure uncertainty stunts B.C. mining
High taxation levels and uncertainty surrounding access to land and mineral tenure are stunting the growth of British Columbia’s mining industry, according to a report by Price Waterhouse. For each of…
METALS COMMENTARY — Scrap leads pack as recovery continues
The fast pace of economic activity during the first half of 1994 looks set to continue at least for the balance of the year. In ferrous markets, integrated steel producers are taking all available iro…
Bre-X encouraged by drill results
Exploration of three projects in Indonesia is yielding encouraging results for Bre-X Minerals (ASE). At the Busang prospect in East Kalimantan (on the island of Borneo), two holes drilled into the Sou…
Positive results at Cross mine
Drilling and channel sampling are continuing at Hendricks Minerals’ (CDN) Cross gold-silver mine near Boulder, Colo. Two undeground and four surface holes have been drilled to test the downdip extensi…
COMMENTARY — Mining opportunities abroad
During the past five years, government policies have made it increasingly unattractive for mining companies to explore for and develop deposits in Canada, according to a brokerage firm based in the Un…
OBITUARY — Douglas MacIntyre
The town of Kirkland Lake, Ontario is mourning the death of a valued member of the community. Douglas MacIntyre, president of Alex MacIntyre and Associates Ltd., died at the age of 41 years as a resul…