Total Erickson shopping for another acquisition
With no bank debt and a $10-million line of credit, Total Erickson Resources is looking for a new acquisition in either the oil and gas or mineral sectors. President Jean-Pierre Januard also told the …
News
Alaska placer mine enters fourth year of operations
A $150,000(US) development drilling program has begun at the Valdez Creek placer gold mine in Alaska, and stripping operations are expected to get under way there in early June. The work program opens…
Freewest prospectus
Freewest Resources has filed a prospectus for the issue of one million common shares at 50 cents per share. The proceeds will be used to finance exploration on the company’s Collet-Laberge properties…
Monk plans to mill small Wawa deposit
Monk Gold & Resources has signed an agreement with a private company to have 50,000 tons of material mined and milled. The reserves, on Monk’s property near Wawa, Ont., grade 0.35 oz gold per ton. Mon…
COMMODITY FUTURES PRICES N.Y. Mercantile Exchange
Week’s High Low Close Change PLATINUM (in US$ per oz.) May 614.00 614.00 614.90 — 2.30 July 627.00 615.00 619.90 — 3.30 Oct. 633.00 622.00 …
Inspiration turns ’86 profit; moving into gold production
In the red since its reorganization in 1983, Inspiration Resources of New York has reported a net profit of $38 million for 1986, compared to a net loss of $291 million for the year before. Inspiratio…
Geddes well advanced on Windy Craggy adit
Geddes Resources is well ahead of schedule in its work on a 5,500-ft adit to explore the gold zone of the sulphide deposit at its big Windy Craggy copper-gold-cobalt-zinc project, in northwestern B.C….
Noramex explores Nevada gold bet
Noramex Minerals says a $200,000 exploration program is under way at its Bunce gold project near Lovelock, Nev. The work is being funded by Calvada Resources which can earn a 60% interest for $1.6 mil…
Majority of world’s gold used in jewelry-making
Jewelry fabrication accounts for almost 60% of the gold coming on the world market, with industry, small bars and coins taking up their fair share of the precious metal. British author Timothy Green, …
Musto funds earmarked for Utah project
Musto Explorations says it’s “continuing to explore a number of alternatives for improving its working capital position.” President H. Lutz Klingmann confirms that some of the funds would be used to f…
Placements raise $7m for Galveston
Two agreements with NIM and Co., Ltd. Partnership — 1987, dealing with private placements of common shares on a flow-through basis, have been closed by Galveston Resources. The agreements provide for…
Canadian Gold raises $1 million for programs
Canadian Gold Resources reports it has raised $1 million for exploration programs on several Ontario properties. According to President Gordon Leliever, $500,000 secured from Colray Resources will be …