Windy Craggy encourages Geddes
Initial indications of “very encouraging” results are reported by Geddes Resources (TSE), from a 35,000-ft definition drilling program on its big Windy Craggy gold- copper-cobalt property in northwest…
1988
Ottawa offers grants as substitute for earned depletion allowance
The flow-through saga has taken a new turn with the introduction of grants as a replacement for the controversial earned depletion allowance. The new program is designed to aid junior mining and oil a…
Cascadia drilling hits placer gold in B.C.
Visible gold has been noted in seven percussion holes completed on Cascadia Mines & Resources’ Cariboo-Kiethley Creek properties in southwestern British Columbia. Just over a year ago, the company ent…
Alberta Stock Exchange Baslen active (May 09, 1988)
Some of the big traders of recent weeks were active once again as Ottawa offered a lifeline to junior exploration companies by extending the present flow-through financing system until the beginning o…
Phoenix has loss after McxFinley sale
After selling a 43% interest in the Bateman Twp. project near Red Lake, Ont., Phoenix Gold Mines (TSE) strengthened its cash position in 1987 the company said recently. As a result of the sale to McFi…
Aur set to join ranks of Canadian gold producers
After two years of concentrated exploration at its Val d’Or, Que., land holdings, Toronto-based Aur Resources (TSE) will make its debut this September as a Canadian gold producer. The Toronto company …
Placer Dome buys Eastfield shares
A private placement agreement between Eastfield Resources (VSE) and Placer Dome (TSE) gives the latter the right to acquire up to 40% of the outstanding shares of Eastfield. Subject to regulatory appr…
Old shaft gives access at depth to Newfields-Teck
Use of an old mine shaft is giving Newfields Minerals (TSE) and Teck Corp. (TSE) an exploration head start in the Kirkland Lake area of northern Ontario. The old Lake Shore No 5 shaft will give the co…
Ronrico earns 25% interest in Sikmar bet
A 25% interest has been earned by Ronrico Explorations (VSE) in the Simkar gold project near Val d’Or, Que. An agreement between Ronrico and Fonteneau Resources required the former to spend $2 million…
Mount Wright awaits cash due from Spanish royalty
When Mount Wright Iron Mines finally gets the money it’s owed by Exminesa, the company that owns and operates the Rubiales lead-zinc mine in Spain, it should have a significant bundle of cash. Mount…
Anglo Dominion improves financial results in ’87
Like many junior explorers across Canada, Anglo Dominion Gold’s (TSE) ability to finance its main projects was hampered by the Oct 19 market downturn. Nevertheless, the Toronto company’s financial pos…
Metal Prices FUTURES PRICES (May 09, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) May 96.50 95.00 95.90 + 6.55 Jul 91.10 89.60 90…