Pegasus planning merger with U.S. gold producer
Although the company hasn’t abandoned its policy of developing new mines, Pegasus Gold (TSE) appears to have switched strategy, at least temporarily, to increase its gold output. Pegasus has entered i…
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Falconbridge, Beaufield to resume drilling
Falconbridge Ltd. (TSE) plans to resume drilling this month on the Lac Rouleau, Que., gold project held with partner Beaufield Resources (TSE). The program will focus on the 18 zone which has been tes…
No net proceeds, no royalty, Minnova replies to Opawica
The reason Opawica Explorations (TSE) has yet to receive a royalty payment from the producing Lac Shortt gold mine in northwestern Quebec is because there has been no royalty payable, Minnova Inc. (TS…
Hemlo Gold earnings at $14.5m. for quarter
Earnings during the first quarter of this year were $14.5 million (17 cents per share) compared with restated earnings of $2.3 million (3 cents per share) for the 2-month period ending March 31, 1987…
Editorial Foreign risks too often ignored
Mineral exploration, by its very nature, is a difficult endeavor fraught with numerous risks — risks which all investors hopefully assess before buying shares. With so much risk to digest and weigh a…
Most successful Conwest marks 50th anniversary
One of the most successful resource companies in Canada today, Conwest Exploration (TSE) will be celebrating its 50th anniversary next month. A success story from Day One, it is something of a chronic…
Breakwater says financing available for acquisition
With $36.4 million in working capital and its bank debt paid off, Breakwater Resources (TSE) has the financial clout for a major acquisition — and the target could be Asamera Inc.’s (TSE) minerals di…
Denison has sold its interest in Standard Trustco
After failing at the first attempt, Toronto based Denison Mines (TSE) has sold its 44.8% interest in Standard Trustco Ltd. to Roman Corp. for $71.6 million, the company said recently. The new $22.95 p…
Northgate remains quiet on acquisition rumors
Since Northgate Explorations (TSE) sold its Chibougamau, Que., gold/copper mines to Western Mining of Australia in December for $160 million, the question most asked around the Northgate offices is “w…
Alberta Sotck Exchange Mohave trades high
An announcement that Mohave Gold has delivered a letter of intent to buy and Nevada-based gold/silver producer called Canyon Development Mining Inc., made Mohave one of the most active traders. With 4…
Muscocho/Echo complete deal
Muscocho Explorations (TSE) and Echo Bay Mines (TSE) say they have completed a private placement agreement designed to finance development at a number of projects including the Magino gold property ne…
Beardmore mill offically open
Official opening ceremonies for a gold mill in the village of Beardmore, Ont., were held this week by Ateba Mines (TSE) of Toronto. The company is using an ore sorting machine to upgrade mine waste du…