Flagship-Power deal
Flagship Resources (COATS) has sold a 26-claim property in the Beardmore-Geraldton area of Ontario to Power Explorations (TSE). The property, situated in Irwin and McComber Twps., was sold for 200,000…
News
Letters to the Editor Placer extraction error
We have found an error in your article entitled “Placer mines profitable despite unique problems” (N.M., Mar 27/89). You state that some 234 operations extracted 16,000 oz gold. This, in fact, should …
Roddy acquisition
A land position comprising 105 claims near the Copperstone gold mine of Cyprus Minerals near Quartzsite, Ariz., has been acquired by Roddy Resources (TSE). President Steven Harapiak told the annual me…
Flanagan, Echo Bay deal
Flanagan McAdam Resources (TSE) has entered into a private placement agreement with Echo Bay Mines (TSE) whereby Echo Bay will purchase 1.6 million Flanagan shares at a price of $2.50 per share. The $…
Gold funds as of May 2
BGR Goldcorp Central MVP Capital Net value $11.93 % 7.81 % 6.43% 0.68% Price $ 9.25 % 4.75 % 5.75% 0.42% Discount $22.46% 39.2 % 10.6% …
Financing (May 08, 1989)
VANCOUVER Brooklyn Res — 500,000 offered @ 50 cents per sh. Hawkeye Devel — gross proceeds rec $525,000. More Res Inc. — gross proceeds rec $250,000. Fairbanks Gold Ltd — 2,000,000 offered @ $2.8…
Falconbridge settlement
Clerical and technical workers at Falconbridge Ltd.’s (TSE) Sudbury, Ont., operations recently voted in favor of a new 3-year contract which a union representative says is among the most generous ever…
Platinova active in assorted plays
Assorted mineral projects in three countries are keeping Toronto-based Platinova Resources (TSE) busy. In Greenland, the junior is active in three plays, one involving gold- platinum, a second involvi…
Gibraltar earnings best in eight years
The continued strength of copper prices into 1989 has Gibraltar Mines (TSE) tallying up the highest quarterly earnings in eight years from its mining operations near Williams Lake, B.C. The Placer Dom…
Galactic Res. struggles to shake “one-mine” image
Wounded by the failure to deliver on promises made at its Summitville gold mine in Colorado, Galactic Resources (TSE) and its ebullient chairman, Robert Friedland, have faced the brunt of investor dis…
COATS (over-the-counter) Lackluster trading
It was quiet on the COATS mar- ket this week with most mining issues either unchanged or slightly lower. Exxeter Resources was the volume leader with trading in the 43 cents -48 cents range, down mar…
More R&D money needed to keep Canada competitive
Mining companies need to almost double the money they now spend on research and development, says Henry Brehaut, senior vice-president operations at Placer Dome. Speaking at the opening session of the…