Imperial puts Esso Minerals assets on sale
Imperial Oil has announced plans to sell Esso Minerals Canada so it can concentrate corporate resources on the energy related, petroleum product and chemical businesses. Esso would prefer to sell its …
News
Varna encouraged by Newfoundland values
Calgary-based Varna Gold (ASE) says it has encountered some encouraging gold values at its wholly- owned Mings Bight property on Newfoundland’s Baie Verte Peninsula. Following a program which included…
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, …
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…