NEWS IN BRIEF (August 10, 1992)
Redwood Resources Inc. (RDW:VSE) has changed its name to Trooper Explorations Ltd. (TPP:VSE) with a consolidation of capital on a 1-new-for-3-old-share basis. The transfer agent is Montreal Trust.
News
Correction (August 10, 1992)
Contrary to what was reported in the July 20 issue of The Northern Miner, Royal Gold (NASDAQ) was never a minority partner in the Cortez joint venture currently exploring the Pipeline gold deposit in …
PRODUCER PRICES (August 10, 1992)
ALUMINUM: MW U.S. market US60.50-61.50 cents per lb. (Jul. 23, 1992). ANTIMONY: New York dealer US78-88 cents per lb. (Jun. 11, 1992). BISMUTH: New York dealer US$2.35-2.70 per lb. (Jun. 11, 1992). CA…
Royal Oak to pay $1.8 million for ERG’s Timmins assets
Royal Oak Mines (TSE) says it will buy all of the processing facitilies of ERG Resources from a secured creditor for $1.79 million. Royal Oak says it will not incur any liability for ERG’s past activi…
Minnova confirms reserve estimate at Pend Oreille
Following the recent completion of an infill drilling program on the Pend Oreille property in Washington state, operator Minnova (TSE) estimates probable reserves at about 3.8 million tons grading 10….
Assays confirm width of Polaris-Taku zone
Merger candidates Suntac Minerals (VSE), Canarc Resource (VSE) and Rembrandt Gold Mines (ASE) recently released additional assay results from drilling on the Polaris-Taku gold property in northwestern…
LATIN AMERICA — Peruvian mine set for mid-1993
Subject to suitable financial arrangements and regulatory approval, the Yanacocha gold project in Peru will enter production in mid-1993, its owners say. Anticipated annual output is 100,000 oz. Capit…
LATIN AMERICA — Trade mission to Argentina
About two dozen mining firms took part in a mining investment mission to Argentina during the first week of August. The mission, sponsored by the Washington, D.C., office of the United Nations Industr…
Tundra plans to join forces with Oneida, Golden Pond
Subject to regulatory approval, Tundra Gold Mines (VSE) plans to complete a merger with Oneida Resources (VSE) and Golden Pond Resources (VSE) to form a new company, TGO Resources. The amalgamated com…
Mexico allows 100% participation in mining ventures
New mining legislation will open Mexico’s mining industry to increased foreign investment and expanded exploration. For the first time, foreign investors will be permitted up to 100% participation in …
GUEST COLUMN – Stifling mine development
How ridiculous can some of those vociferous, head-in-the-clouds environmentalists, including our own public servants, get? A case in point would have to be a charge against Maybrun Mines, a small isol…
IOC’s 5-week shutdown first in almost a decade — Weak demand
For the first time in almost a decade, The Iron Ore Company of Canada has scheduled downtime at its Labrador City operation because of weak demand for its products. About 1,500 workers were sent home …