Louvem rejects Belmoral offer
An offer by Belmoral Mines to purchase about 6.4 million shares of Louvem Inc. has been rejected by the latter’s board of directors. Belmoral proposed buying the shares at $3.15 per share, for a tot…
1987
Metal Prices FREE MARKET Spot Gold, Silver, Platinum and Palladium (October 12, 1987)
Oct. 6 Oct. 5 Oct. 2 Oct. 1 Sept. 30 ** ** Gold London Bullion Dealers afternoon (morning) $US per oz. ** 458.00(456.85) 456.50(455.15) 454.35(455.00) 454.90(454.10) 459.50(459.15) ** Gold…
General News & Comment Quebec prospectors press for support of
The Quebec Prospectors Association has been successfully lobbying the “opposition” in the fight to save flow-through financing, President Regis Labeaume told The Northern Miner in a telephone intervie…
Drilling continues at Normetal bet
Drilling continues at the Normetal property of Normetal Mining Exploration in northwestern Quebec, where results from two holes have been made available. Hole 87-18, over a true width of 22.1 ft, retu…
Minnova plans major drilling
Another 33,000 ft of drilling is planned by Minnova Inc. on its Samatosum property in the Kamloops area of B.C. The program is under way and three drills are being utilized. One of the rigs is drillin…
Petromet, bids to increase Fifteen Mile bet reserves
In a bid to increase reserves at Pan East Resources’ Fifteen Mile Stream property in Nova Scotia, Greenstrike Gold Corp. and Petromet Resources have expanded their evaluation program at the property. …
Editorial Lac will try a final appeal
“It’s just a tremendous victory” boomed an elated Murray Pezim, whose very name is synonymous with Corona and Hemlo, on learning that Ontario’s Court of Appeal had unanimously rejected an appeal by La…
Pezim hails Hemlo trial with swarm of releases
Shortly after it was announced that International Corona Resources had won control of the Page- Williams gold mine at Hemlo, Ont. (see separate story, page 1), a swarm of news releases flew out of 155…
PRODUCER PRICES (October 12, 1987)
ALUMINUM: MW U.S. Market 83.50 cents -86.00 cents per lb. (Oct 1, 1987). ANTIMONY: New York dealer $1.12-$1.16 per lb. (Sept 3, 1987). BISMUTH: New York dealer $4.75-$4.90 per lb. (Sept 17, 1987). CA…
Court upholds Hemlo decision
Ownership of the biggest gold mine in Canada has moved another — and possibly the final — step towards International Corona with the loss of Lac Minerals’ appeal against the initial judgment. Lac ma…
Goldteck offering raises $6,105,000
Gross proceeds from a recently completed public offering of 1.35 million class A units and 2 million class B units were $6,105,000, Goldteck Mines reports. Each class A unit consists of one 1987 depos…
Pamour group heating up gold excitement in Timmins
Miners have been pulling gold ore out of the ground here for more than 75 years. But the excitement of finding new gold orebodies has never been stronger than it is today — thanks largely to the Pamo…