News in Brief (September 14, 1987)
Dasher Resources reports sale by way of a private placement of 1,500,000 of its units at 30 cents a unit, with each unit consisting of one common share and one non- transferable share purchase warran…
News
T. Boone Pickens ups bid for Newmont to $6.3 billion
In a bid to stave off a hostile takeover bid by American corporate raider T. Boone Pickens, Newmont Mining Corp. — one of the largest gold miners in North America — just got bigger. The company, whi…
Ronrico has $7m. program to reopen Louvicourt mine
Another gold mine in the booming Val d’Or area is to be reopened. Culminating lengthy negotiations, Ronrico Explorations has come to an agreement under which it can earn up to a 75% interest in the Lo…
Montreal Exchange Stabell riding high
Trading activity remained high this holiday-shortened week on the Montreal Exchange but the trend was downwards, with both the market portfolio and mining and minerals index losing ground. Stories of …
Ansil on track foir Minnova
It’s not official yet, and won’t be for another few months, but Minnova Inc. plans to put its Ansil copper mine near here into production at the end of 1988 or beginning of 1989. The Northern Miner re…
Nordac is encouraged by drilling, trenching on Yukon joint venture
Encouraging results are reported by Nordac Mining Corp. on the Goldstar gold property on Mt. Freegold, in central Yukon. Nordac is in a joint venture on the property (66 2/3%), with Rexford Minerals, …
Dundee-Palliser buoyed by Vezza drill results
Dundee-Palliser Resources of Toronto reports a net loss of $61,781 (1.4 cents per share) compared with net income of $67,656 (2.1 cents per share) for the same period in 1986. The 1986 first-half re…
Cuvier drilling two properties
Diamond drillng contracts have been awarded by Cuvier Mines for projects in Newfoundland and Labrador. On the Baie Verte peninsula in Newfoundland, Cuvier plans to drill 5,000 ft on the company’s Ming…
Nuinsco remains bullish on Beauchastel project
Nuinsco Resources and Seadrift International remain bullish on the prospects for their Aldermac project at Beauchastel Twp. near Rouyn/Noranda, Que. The joint venture partners are encouraged by result…
Metal Prices FREE MARKET London Metal Exchange Spot closing prices
Date Sept. 8 Sept. 7 Sept. 4 Sept. 3 Sept. 2 Copper 1069-1070 N/A 1044-1046 1031-1032 1043-1044 Lead 412- 414 N/A 412- 414 408- 409 404- 405 Zinc 448- 450 N/A 457- 458 453- …
Bitech funded for exploration work
A $125,000 working capital loan has been arranged by Bitech Energy Resources. The loan was provided by D.C.C. Equities. Exploration funding for the year will come from two placements of flow-through s…
Yukon Chamber mining school
The British Columbia and Yukon Chamber of Mines will hold its 69th annual prospecting and mining school in Vancouver again this year. Classes begin Tuesday, Sept 15, and run Tuesday and Thursday eveni…