Rembrandt funds
Shareholders of Rembrandt Gold Mines (ASE) approved a $300,000 private placement of 1.5 million shares at 20 cents per share at the recent annual meeting. The company says the proceeds will be used fo…
News
Orapo, Shannon seek Manitoba diamonds
The diamond fever infecting the Northwest Territories, Ontario and Saskatchewan appears to have spread to Manitoba with a recent announcement by Orapo Resources. Orapo, along with joint venture partne…
Placer Dome sells control of VSM at discount price
Montreal-based junior VSM Exploration (TSE), which has a zinc exploration project near Matagami, Que., has a new controlling shareholder. Gold producer Cambior (TSE) has purchased a 43.6% interest in …
Elliot Lake liability prompted Rio Algom sale, analysts say
When RTZ sold its 51.4% stake in Rio Algom (TSE), the British resource conglomerate said it was unloading the asset to avoid competition with other North American interests particularly Kennecott. But…
Gibraltar’s North zone yields values in wide intersections
An ongoing drilling program on the North zone of the Gibraltar mine near McCleese Lake, B.C., returned a number of wide copper intersections for owner Gibraltar Mines (TSE). The company originally enc…
Great Lakes may lease mill
Great Lakes Minerals (TSE) is considering leasing an existing mill 23 miles from its 543-S copper deposit in order to be in production within a year. The deposit lies on the Keeweenaw Peninsula in Mic…
EDITORIAL PAGE — A school for the future
About three years ago the future of Haileybury School of Mines was in doubt. With limited enrolment, bruised morale following a bitter strike and dwindling resources, it looked as if the institution w…
LETTERS TO THE EDITOR — Gerard defends labor leaders
Your editorial “Self-serving labor leaders” (T.N.M., June 15/92) is quite out of character for The Northern Miner. It is such a gratuitous, hysterical, falsehood-laden personal attack on myself and th…
LETTERS TO THE EDITOR — Validating Flag’s claims
Flag Resources reported (T.N.M., June 15/92) that analyses from the first 1,500 ft. of core from its hole indicated enrichment in elements found in Sudbury ores. Flag specifically referred to the nick…
Teddy Bear shuffle is ruled `improper and invalid’ by court
A judge for the Ontario Court of Justice has ruled that the 1984 transfer of at least 1.23 million shares of Teddy Bear Valley Mines (CDN) from the Teddy Bear Valley Syndicate to former chairman Ross …
Cyprus announces huge writedown
The new chairman and chief executive officer of Cyprus Minerals (NYSE), Milton Ward, recently announced writedowns totalling US$415 million. The writedowns reflect weak markets for some of the company…
STOCK MARKETS — First-hole results at Casino boost shares of
Trading statistics for the Vancouver Stock Exchange mirror a general feeling of malaise at brokerage houses where phones are quiet. After comparing the second quarter of 1992 with the first, the excha…