Producers set to take over Lake Ponask
Shareholders of Producers Group, a private company, will take control of Lake Ponask Gold (TSE), according to a letter of intent signed by the two companies. As part of the deal, $285,540 of Lake Pona…
News
NO HEADLINE (June 25, 1990)
TEXT: Trader, Cabre in legal action Toronto-based junior Trader Resource (TSE) is being sued by Cabre Exploration (TSE). Trader says it has been served with a statement of claim by Cabre (formerly Br…
U.S.REPORT Moneta bullish on lead-zinc project
Timmins-based Moneta Porcupine Mines (TSE) is hoping to raise $3 million this year to explore the Lik lead-zinc property in Alaska, shareholders were told at the annual meeting. The property hosts an …
Rain shuts Gibraltar mill
Milling operations were suspended for three days by Gibraltar Mines (TSE) at its copper mine near Williams Lake, B.C., because of environmental concerns over excessive runoff water. Unseasonably high …
Spirit Lake names a new president
A new president has been named for junior Spirit Lake Explorations (ME). Noble Harbinson has taken over the top post from John Hansuld, who will remain on the board of directors. Spirit Lake is expect…
U.S.REPORT Uranium Resources benefits from veto of Navajo taxation
Uranium reserves outside of the Navajo reservation in New Mexico will be free from Navajo taxing and regulation, according to a ruling by the United States Court of Appeal. The court has denied the Na…
P.T. Inco reduces production forecast by 10 million pounds
P.T. Inco, Inco’s (TSE) Indonesian arm, has reduced its nickel production forecast by 10 million lb. This year, the company expects operations in Soroako, Sulawezi to produce 70 million lb. (31,800 to…
Royal Oak Res. negotiates purchase of Pamour assets
The Australian owner of the Pamour group of companies has found a buyer for a large portion of its Canadian mining assets. Giant Resources of Sydney says it has entered into an agreement with Royal Oa…
Pezim hearings to be televised
The British Columbia Securities Commission will allow certain television and radio stations to record and broadcast a hearing into insider trading and other allegations against Murray Pezim and other …
Extraordinary gain boosts Pioneer
The conversion of the balance of a 52,000-oz. gold loan to a U.S. dollar loan has brought about a $5.5-million profit for Pioneer Metals (TSE). As a result, net earnings for the first quarter ended Ma…
TVX seeking deal on big Brazilian nickel deposit
Toronto-based Consolidated TVX Mining (TSE), a growing gold producer with interests in four projects in South America, is moving toward becoming a nickel miner. Shareholders at the recent annual meeti…
MAC to adopt product stewardship approach
The 100 members of the Mining Association of Canada (MAC) will be taking on added responsibilities for protecting the natural environment under its new Chairman Keith Hendrick. He is also president of…