Deak to raise $1.39 million
A total of $1.39 million is being raised through a private placement by Deak Resources (TSE) in order to finance joint venture and other agreements it has with the Noranda (TSE). Subject to regulatory…
News
McNickel reports new assay results
More assay results have been released by McNickel Inc. (COATS) from its Lac St. Jean property in Quebec. Results from two recent holes, 1,000 metres north of the original showing, include 49 ft gradin…
Hemlo Gold ups stake in Windarra
A recent private placement agreement between Hemlo Gold Mines (TSE) and Windarra Minerals (TSE) will see Hemlo Gold’s stake in Windarra increase to 30.4%, up from the previous level of 20.22%. Hemlo G…
Millar earns profit in Glamis share sale
Chester Millar, chairman of Vancouver-based Glamis Gold (TSE), recently earned $16,610 by selling a portion of his considerable stake in the company. According to a recent Ontario Securities Commissio…
Montreal Exchange Black Friday scare
Fears of a repeat of Black Monday two years ago failed to materialize during the week, although this year’s Black Friday version threw a scare into the investment community. A 4.8% drop in the mining …
Market collapse short lived on Montreal;s stock exchange
One of the main differences between the October market collapses of 1987 and 1989 has to be the recovery time. Investors this time around seemed to bat hardly an eyelash before diving in again during …
Newfoundland review, CIM coincide
The Newfoundland Department of Mines and Energy’s thirteenth annual open house and review of activities begins Nov 2, 1989, at the Radisson Plaza Hotel in St. John’s, Nfld. Once again, the department’…
Pig market’ comes to an end
Down, up, way down, and all around. That about describes the roller-coaster ride the VSE Index took during the two- day run of the October, 1989, “mini market” crash. It began appropriately enough on …
Output improving at Magino mine
Operations at the Magino gold mine of McNellen Resources (TSE) and Muscocho Explorations (TSE) are slowly picking up, the companies report. The mine, situated in the Wawa area of northern Ontario, tur…
Noranda can earn 50% of Soledad
An agreement in principle has been reached between Golden Queen Mining (VSE) and Noranda Exploration which would see the latter company spend $5 million (US) on Golden Queen’s Soledad Mountain propert…
Marcee planning to drill property in central Nfld
Macree Resources (COATS) has received a letter of intent from Yorkton Securities of Toronto for a $500,000 common share underwriting. Proceeds of the offering will be partially used for general corpor…
New Earth Scienes Centre opened at U of T campus
A new $55.5-million Earth Sciences Centre was officially opened on the main campus of the University of Toronto in Ontario recently. At the centre’s 400-seat lecture auditorium, Ken Babcock, assistant…