NEWS IN BRIEF Kerr shareholder
A minority shareholder of Kerr Addison Mines (TSE), the Ontario Municipal Employees Retirement Board, has increased its stake in Kerr to about 13.6% (about 2.4 million common shares) through the acqui…
News
Chutine funding
Chutine Resources (VSE) says it raised almost $853,400 through two private placements. The company sold about 2.3 million units at 37 1/2 cents per unit. Each unit comprises one common share and one n…
More royalties for Euro-Nevada
A package of six royalty and net profits interests (NPI) has been acquired by Euro-Nevada Mining (TSE) from the estate of a prominent Nevada mining prospector-developer for US$562,500, the company say…
New gold zone taking shape at Eagle River
Limited exploration on the newly discovered “P zone” at Central Crude’s (TSE) Eagle River property in the Mishibishu Lake area of Ontario has returned some encouraging results. While the best channel …
Cambior needs US$152 million to build gold mine in Guyana
The board of directors of Montreal-based Cambior (TSE) recently approved a feasibility study for the Omai gold project in Guyana, South America, held jointly with Golden Star Resources (TSE). Golden S…
Cyprus earnings narrow
Earnings were down sharply for Cyprus Minerals (NYSE) during its the third quarter ended Sept. 30. The company reported third quarter earnings of US$42.2 million, compared with earnings of US$68.2 mil…
Base metals face difficult year in 1991, long-term outlook better,
Mining analysts expect 1991 to be a difficult year for base metal producers as the western world enters a period of slower economic growth. “A weakening western world economy will not be good for meta…
GSR considers Bates potential
A small drilling program on a past producer has GSR Goldsearch (VSE) reviewing the possibility of restarting production. A two-hole program was designed to test the downdip extension of the Bates vein…
Groups collaborate on mining research
The nature of mining research in Canada is changing as industry, government and universities pool their resources and expertise, says John Udd, director of Mining Research Laboratories for Energy Mine…
Correction (January 07, 1990)
Drill results from the Aurora gold property in Guyana, a joint venture of South American Goldfields (TSE) and Denison Mines (TSE), were incorrectly reported (T.N.M., Dec. 31/90). Highlights from the d…
Former Trimin executives take bonuses on retirement
Severance payments and cash bonuses totalling $528,500 were paid to Brian Fraser and Randy Turner before they resigned their respective positions as chairman and president of Trimin Resources (TSE). T…
Inco, Vior assume Douay ownership
The Douay gold project in Quebec’s Casa Berardi region will soon become a joint venture between two partners, Inco (TSE) and Societe d’Exploration Miniere Vior (ME). Vior says an agreement has been re…