Jascan option deal
Jascan Resources (TSE) has optioned its Dawson property in Colorado to Uranerz, a West German mining company. Under the terms of their option agreement, Uranerz can earn a 75% interest in Jascan’s Daw…
News
OSC seeks power to regulate professionals
The Ontario Securities Commission has recently proposed a series of far-reaching amendments to the Securities Act that would broaden its investigation and enforcement powers to include mining engineer…
FINANCING (February 12, 1990)
Romulus Res — gross proceeds rec $555,500. Bonaventure Res — gross proceeds rec $230,000. St. Jude Res — 500,000 offered @ 50 cents per sh. Silver Butte — 700,000 offered @ 65 cents per unit. Alta…
Strike at Doyon
The 380 hourly workers at the Doyon gold mine in northwestern Quebec recently went on strike. Joint owners of the mine are LAC Minerals (TSE) and Cambior (TSE). The mine, a former open pit operation w…
Barrick chairman sees gold price rising
American Barrick Resources (TSE) expects to produce 565,000 oz. of gold in 1990 at an average cost of US$220-222 per oz., says President and Chief Operating Officer Robert Smith. While Barrick was for…
Placer to drill McConnell property
After an assessment of the 1989 drilling program has been completed, Placer Dome (TSE) plans to drill the McConnell Creek gold property owned by Gerle Gold (VSE). Placer is earning a 60% interest in t…
New Chutine board
Following the completion of a $1.2-million financing, Chutine Resources (VSE) has gone through a major board change. New directors include Peter Holmes, as chairman and chief executive officer, C.H. F…
Breakwater to drill Lenora gold claims for base metals
Vancouver-based Breakwater Resources (TSE) has optioned Greater Lenora Resources’ (TSE) Orvilliers and Puisseaux twps. property in Casa Berardi, Que. Low-grade gold values over narrow widths have alre…
Court dismisses U.S. Gold application
The application by U.S. Gold (NASDAQ) for a limited rehearing of the appeal of Justice Hinds’ decision has been dismissed by the British Columbia Court of Appeal. Hinds’ decision had turned control of…
Echo Bay, Muscocho face roadblock from Windarra
A partner in the operating Magnacon gold mine near Wawa, Ont., says it has the right of first refusal to purchase an increased interest in the project. Windarra Minerals (TSE), with an original 25% in…
Gold Torch not a Prime company
The acquisition of one million escrow shares of Gold Torch Resources (VSE) by Prime Resources (VSE) will not be completed. As a result, the company notes that Prime nominees will no longer be on the b…
South African changes could tap capital from North America
The improved fortunes in gold prices since late 1989 combined with the rapidly improving political situation in South Africa — the world’s largest gold producer — is boding well for that country’s g…