Joint venture explores Utah’s Dugway district
The mineral potential of Utah is being given serious attention by Centurion Mines (NASDAQ), now the state’s largest holder of precious metals properties. The most recent acquisition was a 25% undivide…
News
Tiomin proposes amalgamation with affiliate of Falconbridge
In a bid to raise financing for its heavy mineral sand deposit in Quebec, Tiomin Resources has proposed an amalgamation with publicly traded New Pascalis Mines (ME). New Pascalis, 43% owned by Falconb…
NEWS ROUNDUP — Sheridan reactivating Lyndex
Plans are afoot to reactivate Lyndex Explorations (CDN). Subject to regulatory approvals, the company plans to offer by way of a private placement 400,000 treasury shares on a flow-through basis at 15…
MSV transaction
MSV Resources (ME) says it will sell the more than 1.5 million shares of VSM Exploration (TSE) it owns to Cambior (TSE) at 50 cents per share. MSV also plans to sell to Cambior any shares it purchases…
Exall option lapses
Stephen Roman, president of Exall Resources (TSE), says he did not exercise an option to buy all or part of Denison Mines’ (TSE) interest in Exall. Roman has decided instead to focus on raising funds …
GOLD FUNDS (August 31, 1992)
BGR Central Net Value $8.07 $4.86 Price $6.88 $4.50 Discount 14.81% 7.40% Value $47,965,000 $75,709,350…
Study supports plan to develop fluorite property
Based on the findings of an interim report by Kilborn Engineering, Silverspar Minerals (VSE) reports that its Silver District fluorite-silver property in La Paz Cty., Ariz., has the potential to be an…
Lac de Gras crash kills pilot
The rush for diamonds in the Northwest Territories has claimed its first fatality. Howard Damron, a 48-year-old pilot flying under contract for Dia Met Minerals (VSE) and BHP Minerals Canada, was kill…
Diamond exploration spills on to James Bay lowlands
Diamond exploration and land acquisition were reported to be under way in five provinces, in addition to the Northwest Territories, during the week ended Aug. 25. In Ontario and Quebec, KWG Resources …
NEWS ROUNDUP — Orvana to drill Madhat property
A drilling program will begin in early September to further define copper-gold targets identified by Orvana Minerals (TSE) on the Madhat property on Vancouver Island, B.C. The initial drilling program…
NEWS ROUNDUP — Lac lays off 5% of workforce
Toronto-based Lac Minerals (TSE) has laid off about 5% of its workforce in a bid to lower its overall cash cost from US$245 to US$237 per oz. The layoffs were spread “across the board,” said John Pear…
NEWS ROUNDUP — Lupin investigation concluded
Mining safety inspectors recently concluded their investigation of an accident which caused the death of a miner at Echo Bay Mines’ (TSE) Lupin gold mine in the Northwest Territories. Chris Pederson, …