NEWS IN BIREF
Kamad Silver Co. (KDS:VSE) has changed its name to Agate Bay Resources (ABE:VSE) with a consolidation of capital on a 1-new-for-5-old-share basis. The transfer agent is Montreal Trust.
News
LAST BUT NOT LEAST — Early redemption
Toronto-listed Northgate Exploration has called for redemption of its $40 million of 10% subordinated debentures issued in 1988. The redemption will occur 19 months ahead of the February, 1995, maturi…
LAST BUT NOT LEAST — Commercial to sell tremolite property
An offshore buyer has offered to acquire Commercial Industrial Minerals’ (CDN) tremolite industrial mineral property, 250 km northeast of Toronto. The offer, which consists of cash and a limited royal…
Royal Oak plots re-opening of Colomac mine, teams up with
The Colomac gold mine will be re-opened next spring by Royal Oak Mines (TSE), a Canadian gold producer which recently announced plans for its first mineral venture outside North America. The company p…
Gold dips to $350
The price of gold broke out on the downside Sept. 7, shedding more than US$14 per oz. to close at $350.10 on the Commodity Exchange of New York (Comex). Late the next day, the price was holding firm -…
Northfield issues private placement
Toronto-based Northfield Minerals (ASE) hopes to raise $600,000 through a private placement of more than 1.3 million units at 47.5 centsper unit. Each unit consists of one share and one warrant. A war…
STOCK MARKETS — Gold price plunge drives market lower
Ouch! Gold bullion dropped like a stone following the Labour Day holiday weekend, losing US$14.40 per oz. on Sept. 7 and triggering a big selloff in the gold equities. The bullion meltdown and subsequ…
STOCK MARKETS — Western markets follow senior board plunge
A 1-day, US$14-per-oz. plunge in the price of bullion led to a spate of fear and loathing in the junior gold market. Gold finished the period ended Sept. 7 down, by more than US$20 per oz., at the US$…
TSE introduces new index
On Oct. 1, the Toronto Stock Exchange will introduce a new benchmark of Canadian market performance — the TSE 100 Index. According to the TSE, the 100 Index is intended mainly to enable institutional…
NEWS ROUNDUP — Bre-X acquires Indonesian ground
In what it calls “the premier unexplored area of the world,” Bre-X Minerals (ASE) has acquired a third exploration property. A deal has been signed with Bre-X’s Indonesian partner to acquire an 80% in…
NEWS ROUNDUP — Geological report on Stewart camp
The British Columbia Geological Survey has released a report on the historic Stewart gold-silver camp in the northwest. The 105-page report describes the geology and mineral occurrences in a 750-sq.-k…
McGill schedules seminar program
Montreal’s McGill University will be offering its 28th annual professional development seminar program on various aspects of mineral engineering and mineral economics beginning in November. The staff …