Placer ups stake in U.S. Gold
A wholly owned subsidiary of Placer Dome (TSE) has opted for early conversion on a $4.5-million debenture of U.S. Gold (NASDAQ). The debenture, convertible into three million common shares, was due to…
News
Pronto drill results
Pronto Explorations (TSE) has released drill results completed by Inco Gold on the Cochenour-Willans gold property near Red Lake, Ont. The results came from drilling completed by Inco between the 1,60…
New management at junior Cache
The new majority shareholder and manager of Explorations Cache (ME) is Corpomin Management of Montreal. Pierre Boudreault has been named president and Charlene Ross, secretary-treasurer. Forming the b…
Northgate prevented by OSC from completing ABM merger
Toronto-based Northgate Exploration (TSE) has run into a potential road block en route to simplifying its complicated corporate structure and becoming an operating mining company. Last week, the Ontar…
Metal Prices PRODUCER PRICES (November 20, 1989)
ALUMINUM: MW U.S. Market US75.75 cents – 77.75 cents per lb. (Nov 2, 1989). ANTIMONY: New York dealer US85 cents -90 cents per lb. (Nov 9, 1989). BISMUTH: New York dealer $4.60-$4.70(US) per lb. (Nov…
Individual investors will dislike the new goods and services tax
A number of issues are emerging as Canadian business organizations assess the impact of the proposed federal Goods and Services Tax (GST). To assist in this analysis, tax specialists Barry Dent and Jo…
Spot prices at a glance (November 20, 1989)
Week’s Price (US) Change Gold* $390.50 +$ 3.55 Silver* $ 5.37 +$ 0.10 Platinum* $510.40 +$16.15 Nickel** $ 4.54 $ 0.13 Lead** $ 0.32 …
Geological reserve estimate made for Buckhorn Mountain
Affiliated companies Crown Resources (NASDAQ) and Gold Texas Resources (VSE) recently announced a drill-indicated geological inventory of 4.3 million tons of 0.125 oz gold for the Buckhorn Mountain pr…
Goldteck positive on several projects
Junior Goldteck Mines (TSE) could have two projects, one in Chile and the other in Nevada, in operation next year and a third, in northern Ontario, well on its way to production. The company recently …
Guinness drilling tin prospect next to East Kemptville Mine
Two diamond drills are scheduled to start turning this week on a tin prospect in southwestern Nova Scotia. The ground being investigated covers the contact between granitoids of the South Mountain bat…
Editorial Getting information
The rules about insider trading were made so that directors, officers and others close to a company would not benefit from information to which the general public does not have access. It is a worthy …
Six gold mines close, six open while gold slumps
A year-long slump in the price of gold bullion has forced at least four Canadian gold mines to suspend operations during the past six months, while a similar number of new mines have come on stream ov…