Prime to acquire shell company
An offer has been made by Prime Equities International (VSE) to acquire all outstanding shares of a Vancouver-based shell company, Encore Ventures (VSE). Under the offer, Encore shareholders will rece…
News
Union, Luscar talking about co-operation at Balmer mine
The union representing more than 1,000 coal miners in southeastern British Columbia and an Edmonton coal company have taken the first step to save the huge bankrupt Balmer mine from liquidation. The U…
PRODUCER PRICES (September 28, 1992)
ALUMINUM: MW U.S. market US58.25-58.75 cents per lb. (Sept. 10, 1992). ANTIMONY: MW New York dealer US78-88 cents per lb. (Jun. 11, 1992). BISMUTH: MW New York dealer US$2.35-2.70 per lb. (Jun. 11, 19…
NEWS ROUNDUP — Wye turns to Poland for cash
Unable to raise money in Canada, Wye Resources (CDN) has turned to Eastern Europe for the funding needed to continue exploration on the Saganaga Lake gold property west of Thunder Bay, Ont. Wye says i…
Deak becomes operator at Cheminis mine
A letter of agreement recently signed by Deak Resources (TSE) with Northfield Minerals (ASE) allows it the right to become operator at Northfield’s Cheminis mine near Kirkland Lake, Ont. Deak will als…
Challenger drops Deatys Creek property option
After receiving the results from the second phase of drilling on its Deatys Creek property, 90 miles west of Thunder Bay, Ont., Challenger Minerals (VSE) has decided to drop its option. The best inter…
DIAMOND GEMS
. . . Sources close to the Lac de Gras diamond play say the kimberlite that yielded 10 microdiamonds and one macrodiamond in a 40-kg sample for the Dia Met-BHP joint venture (T.N.M., Sept. 21/92) outc…
NEWS ROUNDUP — Glimmer, Hemlo resume drilling
Drilling has resumed on the Hislop Twp. gold property near Matheson, Ont., of Glimmer Resources (VSE) and Hemlo Gold Mines (TSE). The partners plan to drill eight holes, one to test a geophysical anom…
Giant mine set to reopen as RCMP investigate homicides
The fatal explosion at Royal Oak Mines’ (TSE) Giant mine in Yellowknife, N.W.T., will not close the gold producer, says President Margaret Witte. “We expect to reopen the mine by Sept. 25.” The Sept. …
NEWS ROUNDUP — Regal revises Black Twp. agreement
An agreement has been amended between Regal Goldfields (CDN) and two private parties over a 30-claim gold property in Black Twp., Ont. Regal will now acquire 100% interest in the property, subject to …
First hole hits at Petaquilla
The first hole drilled by Adrian Resources (VSE) at the Petaquilla project in Panama returned a 968.2-ft. interval grading 0.71% copper, plus minor gold, silver and molybdenum values. It was a good st…
NEWS ROUNDUP — Chilean court lifts Mahogany injunction
A recent injunction preventing International Mahogany (TSE) from shipping copper precipitates has been lifted by a Chilean court. The injunction resulted from a dispute between the company and its min…