Addwest option
An option to acquire Addwest Gold has been assigned by Magma Copper (Amex) to Canyon Resources (NASDAQ). The option involves a purchase price of $33 million(US) plus certain contingent payments. Addwe…
News
FINANCING (October 23, 1989)
ONTARIO Whisper Lake Res — final rec iss offer 2,250,000 @ 40 cents per sh to net $556,312.50 CopperQuest — final rec iss offer 1,500,000 @ 21 cents per sh to net $300,000 VANCOUVER Black Rock Ne…
Spot prices at a glance (October 23, 1989)
Week’s Price (US) Change Gold*$368.10+$7.70 Silver* $5.13+$ 0.08 Platinum*$487.00+$ 6.70 Nickel**$ 4.71–$ 0.01 Lead**$ 0.35+$ 0.02 Copper$ 1.32+ 0.02 Zinc$ 0.75–$ 0.01 Courtesy of Scotiabank. In…
Takeover costs reduce earnings of Falconbridge
Expenses related to the recent takeover of Falconbridge Ltd. (TSE) led the major nickel producer to reduce its third-quarter earnings by $37 million. Noranda Inc. (TSE) and Swedish firm Trelleborg AB …
Metals Page: Lead holds its own in mixed metals market
The base metal cycle may have peaked and prices may be on their way down, but you couldn’t prove it by examining lead. The metal recently rallied in London, where it was trading for as high as 34 cent…
Corona disavows report it will acquire Stikine
Corona Corp. (TSE) disavowed the report — released over the Dow Jones news services — that it is in advanced negotiations to acquire the shares of Stikine Resources (VSE). Stikine recently appointed…
LAC buys 65% of Bond Gold, more than doubles gold output
Facing the spectre of being outpaced by an emerging generation of precious metal super producers, Toronto-based LAC Minerals (TSE) has announced it will take control of Bond International Gold (TSE) f…
Aur and Belmoral negotiate financing, milling deals
Gold-producer Belmoral Mines (TSE) and Aur Resources (TSE) have negotiated financing and custom-milling agreements which should help pick up the fortunes of ailing Belmoral. Aur has agreed to lend $4 …
During 8 years of operating Pinson pays owners $100m
The Pinson gold mining operation near this small town has been a production and cash flow corner-stone for Rayrock Yellowknife Resources (TSE) since mining began in 1981. Despite its modest size, the …
Editorial The crash that wasn’t
The Toronto Stock Exchange’s main indicator, the TSE 300, dropped 142 points or 3.5 % on Friday the Thirteenth, but to hear brokers and market regulators talk, it was a non-event. The Dow Jones index,…
Toronto Stock Exchange Volatility and fear take hold of markets
A bout of very scary trading has taken hold of the markets following the Friday the 13th crash which clipped almost 7% from the Dow Jones index in New York. In Toronto, the sell-off was followed by a …
Acquisitor seeking exploration funds
Financing is being sought for exploration of a base-metal deposit on the south part of the Dubuisson property near Val d’Or, Que., and to develop gold-reserve tonnage in the No 5 vein area, Acquisitor…