Kimex gets Hunter
Kimex Resources (ME) has signed a letter of intent with Wabigoon Resources (COATS) which gives Kimex the right to earn a 50% interest in Wabigoon’s Hunter gold project near Timmins, Ont. The interest …
News
St. Genevieve reports financial performance (January 08, 1990)
St. Genevieve Resources (TSE) has reported net income of $1.3 million or 7 cents per share for the nine months ended Sept. 30, 1989, compared with a loss of $2.8 million or 20 cents per share for th…
COATS (over-the-counter) Cositgan gains 10 cents
A quiet trading pattern prevailed during the holiday season and left most junior mining shares unchanged. A single transaction involving 100,000 shares of Milestone Resource left that issue unchanged …
Editorial Business in the USSR
The more open attitude toward foreign investment in the Soviet Union provides some interesting opportunities, and where there are opportunities, you’ll find Canadian mining companies. One of Canada’s …
Northfield completes private placements (January 08, 1990)
Toronto-based Northfield Minerals (ASE) says a private placement of 250,000 common shares to affiliate Northfield Capital (COATS) was completed recently. According to Northfield Minerals, it has raise…
Sale of Philippine project postponed
An agreement between Galactic Resources (TSE) and an undisclosed major international mining company for the sale of 75% of Galactic’s stake in Far Southeast Gold Resources is on hold. Galactic had pla…
Aur executive cashes in on Val d’Or metal find
One of the ways in which mining companies attempt to motivate and reward their key employees is to grant them options to purchase a specific number of shares at a specified price. Typically, if the co…
Kokanee explores in B.C.
Kokanee Explorations (VSE) is carrying out an exploration program on its Vine property 16 km from Cranbrook, B.C. Held under option from Cominco (TSE), the Vine property’s geology is considered analog…
Editorial Ontario must address power shortage
Already this winter Falconbridge has suffered power shortages at its Sudbury operations for 14-hour stretches on several consecutive days — a total of 110 hours in December alone. The demand for powe…
Aur resumes drilling at Louvicourt project
Surface drilling has resumed at the massive sulphide project of Aur Resources (TSE) and Societe Miniere Louvem (TSE) after a short Christmas break, says Aur Vice- President Howard Stockford. Operator …
Positive results for Thunderwood
A feasibility study is expected to get under way this spring at Thunderwood Resources’ (TSE) wholly owned Gold Hawk property in the Val d’Or area of Quebec, where the first gold bar was poured recentl…
News in Brief (January 08, 1990)
Asitka Resource Corp. has changed its name to Orenda Forest Products Ltd. (OFP:VSE) on a share-for-share basis. Transfer agent is Montreal Trust.