Royex pays $52.3 million for control of Lacana
The purchase of a controlling 36% interest in Lacana Mining Corp. has been completed by Royex Gold Mining Corp. Representing 4.7 million Lacana shares, the control block was purchased from Westmin Res…
1987
Automation soon VSE improves its image
In today’s intensely competitive global economy automation has become synonymous with survival not only for industry but for stock markets as well. Determined to maintain its pre-eminence as North Ame…
Editorial Mining Tax Act a big step ahead
The following guest editorial was written by Patrick Reid, executi ve director of the Ontario Mining Association, and concerns a bill to amend Ontario’s Mining Tax Act. Just days ago, the Ontario legi…
Revenues and earnings records for Granges
Record fourth quarter and year- end 1986 results have been reported by Granges Exploration. The company says operating profits for the quarter rose 75% to $949,474, up from $541,629 in the comparable …
Seabright Resources private placement
A private placement by way of an offering memorandum has been announced by Seabright Resources. The private placement consists of a minimum of 100 units and a maximum of 600 units with a minimum subsc…
New clearing system for metal exchange
The London Metal Exchange will introduce a new clearing system May 29. Changes to the current form of trading will include the introduction of a single monthly prompt date for 12 months beyond the exi…
Lac Shortt royalty deal upsets Opawica meeting
The sharp differences between Opawica Explorations Inc., vendor of the Lac Shortt gold mine property of Corp. Falconbridge Copper, and that company surfaced during a lengthy annual meeting of Opawica …
Four Seasons
Four Seasons Resources has negotiated a $100,000 flow-through share financing which will be used to fund exploration at its Nova Scotia gold property. The company has ground adjacent to and on strike …
Drilling starts on Goldbrae’s Stump Lake bet
Drilling has started on Goldbrae Developments’ Stump Lake property in B.C. under option with Saturn Energy and Resources The initial program consists of 2,500 ft of diamond drillng on target No 1 whic…
Onitap adding third drill rig
A third drill rig is being added on the Boston-Richardson property held by Onitap Resources. Located near Isaac’s Harbour, N.S., the property includes a former producing mine which yielded 50,000 oz o…
Investment Comment Three anaylsts look at Inco
The latest financials coming out of Inco Ltd. have clearly been hurt by the tumbling price of nickel. Though the company did manage to break even for the latest fiscal year ended Dec 31, it did so by …
Locator options Theresa property
Locator Resources has acquired an option to earn a 50% interest in the Theresa gold property near Geraldton, Ont. The 18-claim property was partially developed from 1948-1953 by three shafts to a dept…