News

Hudson Bay Exploration and Development, a wholly-owned subsidiary of Hudson Bay Mining & Smelting, will again be concentrating its exploration efforts in northern Manitoba and Saskatchewan in 1988. Th…

Last year, Noramco Capital gave a dazzling display of coast-to-coast ** fund-raising that netted about $60 million. This year, the company will narrow the field of prospects and concentrate on specifi…

Granges Exploration has reduced its budget this year, cutting $2.5 million from the $12.5 million spent last year on the search for base and precious metals. Of the current $10-million allocation, 1…

Thanks to the sale, late last year, of the Copper Rand and Portage mines in Chibougamau, Que. to Western Mining of Australia, Northgate Exploration is a cash-rich explorer. Cash and investments total …

Getty Resources is exploring and developing five major projects in Canada financed by $10 million in 1987 flow-through share issues. It has a sixth project in Nevada, which is funded from working capi…

Canada’s newest gold mining giant, Placer Dome, is boosting its exploration spending to $51.9 million in 1988, an $11.6-million increase over the 1987 budget. But unlike Noranda, which has hungry base…

Newmont Exploration of Canada has budgeted $6.3 million for exploration in 1988. However, another nearly $4 million will be contributed by joint-venture companies on Newmont-managed ground, bringing t…

Rayrock Yellowknife Resources will spend about $3.5 million on exploration this year. Most of the money will be used in a search for precious metals, including reserve definition drilling on the Costa…

Concurrent with a program of depth development, Pickle Crow Gold Mines has been intensifying the search for subsidiary vein occurrences. Two diamond drills are probing from surface ground contiguous t…

With a registration of 1,585 on the second night, the 39th annual convention of the Canadian Institute of Mining and Metallurgy at Toronto established a new signpost this week in the upward march of t…

It looks very much like the flow-through gravy train is making its last whistle stop. Last year, $1 billion was raised through flow-through share financings for grassroots and more advanced exploratio…

Your introduction to my article, which you entitled “Dubunking a Myth” (see January issue), says: “Junior exploration firms aren’t the mine-finders par excellence they’re made out to be. According to …