AquaGold financing
AquaGold Resources (ASE) recently raised $250,000 through CMP 1989 Resource Partnership to fund exploration on the company’s Newfoundland projects. President William MacPherson says an airborne geophy…
News
Cominco Res. looks for more than gold
Cominco Resources International (TSE), the 58.6%-owned subsidiary of Cominco Ltd. (TSE), “will be as much a base metals company as a precious metals one,” President George Tikkanen told the annual mee…
Armistice testing deep Kerr zone
The drilling of the first of several deep holes from the 2250 level to test the Kerr zone is under way at the Virginiatown, Ont., gold project of Armistice Resources (ME). The holes are part of a 35,0…
CEIP to host workshops
A series of workshops is being scheduled by Energy, Mines and Resources Canada to help prospectors and mining executives understand key features of the Canadian Exploration Incentive Program (CEIP). A…
Louvem in default of gold payment
Quebec gold producer Louvem Mines (TSE) reports that it is in default of a deposit of 1,440 oz gold to a reserve fund which should have been deposited with a trustee by April 1. Louvem says it will as…
Cons. Silver Butte in gas exploration
Consolidated Silver Butte Mines (VSE) has begun to diversify into the petroleum and natural gas business. The company recently acquired a 10% working interest in six sections of oil and gas lands in s…
Dolphin expands Nfld. land holdings
Three potential gold-bearing claim blocks have been added to the property inventory of Dolphin Explorations (TSE) in southwestern Newfoundland, the company reports. The Phillips Brook extension, a 46-…
Kam-Kotia capable of paying loan
Toronto-based Kam-Kotia Mines (TSE) has enough cash on hand to pay off a $3.5 million bank loan it negotiated a year ago to help acquire a sodium sulphate business in Saskatchewan, President John Kach…
RFC to re-open former zinc mine
Following a trend established in the gold mining industry, base metal producers are beginning to look at re-activating old mines. Companies are taking a hard look at old zinc producers like the Pend O…
Rayrock Yellowknife looking good for `89
With a large and diversified exploration portfolio, a bulging treasury ($47.5 million cash), with production, revenues and profits all on an upswing, this should be an exciting year for Rayrock Yellow…
People (May 08, 1989)
RIO ALGOM — R. W. Ballmer appointed vice-chairman and chief executive officer; C. A. Macaulay, director.
Base metals boost American Pacific
The latest financial results from American Pacific Mining (VSE) show sales of $16 million(US) and profits of $6.5 million after tax for the final quarter of its fiscal year ended Feb 28, 1989. The com…