Nor-Acme seeks agreement on Snow Lake gold mine
Management of Nor-Acme Mines is hoping to complete an agreement between Nor-Acme and another company within “two to three months,” director David Mosher tells The Northern Miner. If successfully compl…
1987
Gibralter issue should raise about $5.8m.
Gibraltar Mines has approved the filing of a preliminary prospectus for a common share issue which should raise about $5.8 million. Some 554,546 shares will be sold at a price of $8.25 each by the com…
Tashota-Nipigon options properties from McAdam
Tashota-Nipigon Mines says it has acquired the right to earn a 25% interest in two advanced gold projects in Quebec and British Columbia. One of the properties is the former McWatters gold mine near R…
Flow-through deal for Citadel Gold
Additional exploration at Citadel Gold Mines property near Wawa, Ont., will be funded by a $2.5-million flow-through share offering made to CMP Funds Management. The former producing mine has been dew…
Second drill due on Julbey gold bet
Jilbey Industries says diamond drilling and other work, including an IP survey, is under way on its 16-claim property in Duverny Twp. near Amos, Que., with Bay Resources and Services as operator. Jilb…
Petromet in deal on N.S. gold bets
Under a memorandum of agreement, Petromet Resources and Greenstrike Gold Corp. will spend $300,000 each by the end of February this year on the Nova Scotia mining properties of Onitap Resources. Locat…
MSV Resources completes financing
MSV Resources and MSV Partnership 1986 and Co., have completed the 1986 financing for two of their three properties. The $2.2 million obtained to date will permit MSV to earn interests of 10% in Place…
From floundering to fun, every company name tells a story
“At first we floundered around a bit,” confides the mining executive. A harebrained financing scheme that never stood a chance? A bungled start-up with nothing but one headache after another? A down-i…
Letters to the Editor Don’t kill the golden goose
The following letter has been sent to Finance Minister Michael Wilson at Ottawa. Dear Mr Wilson: There have been rumors in the press that your government is considering cancelling flow-through financi…
Sherritt writes off Ruttan copper mine
Due to depressed base metal prices, Sherritt Gordon Mines is writing off $24.6 million, which represents the carrying value of the company’s Ruttan mine in Manitoba. At present prices, Sherritt says t…
Nevada Goldfields contracts for new mill
A contract has been let for the construction of a 500-ton-per-day carbon-in-leach mill facility by Nevada Goldfields Corp. The mill is expected to start processing ore from Nevada’s Kingston mine in N…
Montreal Exchange Yorbeau trades heavily
The most active issue on the Montreal Exchange this short holiday week was Yorbeau Resources, unchanged at 70 cents on 425,600 shares. Company officials said they knew of no reason why the stock had …