Canada Tungsten ups position in Minerex
By way of private placement, Canada Tungsten Mining Corp. (TSE) has agreed to purchase additional shares and warrants of Minerex Resources (VSE) for $1.8 million. Upon completion of this transaction, …
News
New Zone Discovered on U.S. Borax Star Property
Two contiguous gold properties located in southeastern British Columbia are providing an exploration focus for Reymont Gold Mines (ASE), Lectus Developments (VSE) and Ryan Exploration, a subsidiary of…
Toronto Stock Exchange Equities dive as gold bullion crashes
The price of gold bullion breached the $400 (US)-per-oz barrier culminating a week-long freefall which erased more than $22 off its price. The price closed today at $399. Gold’s slide impacted on all …
Canaustra plans drilling at Flatwater
Canaustra Gold Exploration (VSE) has agreed to allow a private Newfoundland company, Eastern Minerals, earn a 50% interest in the Flatwater Pond property, located on the Baie Verte Peninsula of Newfou…
Shaft deepening contemplated at Bachelor Lake
Bachelor Lake Gold Mines (TSE) is contemplating a shaft deepening program to open up a 12th level at the Desmaraisville mine operation in Quebec. Hampered by a high dilution factor, the Bachelor Lake …
Cominco Debt Trimmed
During the first half of 1988, Cominco Ltd. (TSE) earned $78.5 million (91 cents a share) before including an extraordinary gain of $1.7 million, as compared with a profit of $25.9 million (24 cents …
Cash-strapped Abermin sells Lara property to its partner
Strapped for cash because of problems at its Tartan Lake gold mine in Manitoba (N.M., Sept 5/88), Abermin Corp. (TSE) has been forced to sell one of its key mineral properties, the Lara project on Van…
People (September 26, 1988)
SHILOH RESOURCES — Thomas O’Connor appointed to the board of directors succeeding Mervin L. Judd who has resigned.
Montreal Exchange Douay results pleasing
A falling gold price (near US$400 per oz at this afternoon’s London fix) might turn off some investors, but in Montreal this past week metals issues showed a small gain — the mining and minerals inde…
News in Brief (September 26, 1988)
An agreement for flow-through share financing has been reached between NIM Resources and International Prism Exploration (VSE), whereby NIM will purchase 980,000 shares of International Prism at 65 ce…
INSIDER TRADES (September 26, 1988)
Breakwater Res — R. A. Bruce McDonald sold (private) 144,217 to hold nil. B-Mac sold 565,426 (private) to hold nil. Noramco Cap sold (private) 1,890,357 to hold 55,514. Denison — P. Kostiuk sold 10,…
Base-metal discoveries needed now: ministry
The search for new mineral deposits in Canada in recent years has favored gold to the exclusion of base metals, say a couple of officials with Energy, Mines and Resources Canada who think the “period …