Abandoned mines focus of program
A $10-million abandoned mines program is being set up by the Ontario government. The money for the Abandoned Mine Hazards Abatement Program was allocated in the recent budget brought down by the New D…
News
U.S. REPORT NEWS IN BRIEF Hecla, CoCa complete merger
The previously announced merger between Hecla Mining (NYSE) and CoCa Mines (NASDAQ) is now complete following the approval of the two company’s shareholders. Each common share of CoCa common stock is …
NEWS IN BRIEF Cameco offering closes successfully
An initial public offering by Cameco (TSE) has closed successfully, raising gross proceeds of $130 million for the uranium producer. About 60% of the 10.4-million share issue was bought by institution…
Work on Flin Flon smelter on hold until ownership question resolved
With Minorco’s bid for the purchase of Hudson Bay Mining & Smelting (TSE) extended until July 31, the $187-million refit of the Flin Flon, Man., smelter remains on hold. Minorco, a Bahamian affiliate …
Imperial Group owns Mount Polley
The advanced Mount Polley copper-gold project in central British Columbia is now owned 100% by the Imperial Metals Group, with Imperial Metals (TSE) having a 60.4% direct interest. Along with two affi…
Exodus to Latin America
Most major mining companies in North America are now active in Latin America and are being rapidly followed by the middle- and junior-tier companies, according to a private research firm based in Denv…
PEOPLE MILLENNIUM RESOURCES
Argo Stefanopolous appointed director.
NEWS IN BRIEF Val D’Or Resources Inc.
Val D’Or Resources Inc. (VRE:ME) has changed its name to Consolidated Val D’Or Resources Inc. (CVI:ME) with a consolidation of capital on a 1-new-for-15-old-share basis.
U.S. REPORT NEWS IN BRIEF Construction starts at Flambeau
Construction is under way at Kennecott’s Flambeau copper deposit in Wisconsin. Flambeau Mining, a Kennecott subsidiary, will build a settling pond and water treatment plant before entering into produc…
PRODUCER PRICES (July 22, 1991)
ALUMINUM: MW U.S. Market US60-61 cents per lb. (Jul. 2, 1991). ANTIMONY: New York dealer US84-85 cents per lb. (Mar. 14, 1991). BISMUTH: New York dealer US$3.05-3.15 per lb. (Jun. 27, 1991). CADMIUM: …
Van Ollie raises exploration funds
Marchment & MacKay, underwriter for Van Ollie Explorations (CDN), has exercised a compensation option to purchase 1.36 million common shares of Van Ollie at 13 cents per share. The option was granted …
INSIDER TRADING Carnell profits from Ontex shares
Johan Carnell, secretary-treasurer at Ontex Resources (ASE), profited recently after exercising options on shares of the Toronto-based exploration company. According to the Ontario Securities Commissi…