FINANCING (December 05, 1988)
VANCOUVER GBX Res. Corp. — gross proceeds rec $210,000. Moraga Res. Ltd. — gross proceeds rec $430,000. Simon Fraser Res. Ltd. — gross proceeds rec $175,000. Stonewall Res. Inc. — 300,000 sold for…
1988
Tarzan to acquire Glen Auden claims
Toronto-based Glen Auden Resources (TSE) has agreed to sell 152 claims at Keith Twp., Ont., to Tarzan Gold (ASE) in return for the $94,000 which the company has already spent on previous work and acqu…
McIntyre meeting
McIntyre Mines (TSE) recently said that a special shareholders meeting will be held Jan 23, 1989 to consider a statutory plan of arrangement involving McIntyre, its shareholders and Falconbridge Limit…
Rebound in metal prices helps commodity index
An increase in metal and forest product prices offset declines in crude oil and agricultural prices during October and helped Scotiabank’s all-commodity price index advance by 0.9% from the previous m…
Coal Conference (December 05, 1988)
The second regional conference on coal marketing, technology and mining, which will be held in Brisbane, Aust., from June 5-8 , 1989, will bring together coal suppliers and electricity power generatin…
Corona options Varna property
Corona Corp. (TSE) has acquired an option on the Mings Bight gold property from Varna Gold (ASE). Near Baie Verte, Nfld., the Mings Bight property includes 7,000 acres of ground on which several gold …
Toronto Stock Exchange Golds and metals provide boost to index
A much-needed 21-pt boost helped move the composite index to a close of 3,294.68 pts. That represents a 48-pt gain during our review week. Today’s gains came on the backs of golds and metals which eac…
Galactic takes $40 million write-down for Summitville
A $40 million(US) write-down has been taken by Galactic Resources (TSE) for its Summitville mine in Colorado. And Galactic chairman, Robert Friedland, is now downplaying the operation’s importance in …
Franco-Nevada to explore Redstone copper deposit
Franco Nevada Mining (TSE) which holds a royalty interest in the huge Goldstrike gold mine in Nevada, has agreed to acquire a major slice of a large Northwest Territories copper deposit. In a bid to b…
Broulan results
Net earnings for the first nine months of 1988 for Broulan Resources (TSE) was $1 million or 15 per share compared to $694,961 or 10 per share for the first nine months of 1987. At the main property…
Spot prices at a glance (December 05, 1988)
Week’s Price (US) Change Gold (per oz) $421.30 -$ 3.35 Silver (per oz) $ 6.07 -$ .04 Platinum (per oz) $602.00 -$34.00 Copper (per lb) $ 1.54 +$ .01 Lead…
Noranda to continue exploration on Hislop claims
Further exploration entailing a substantial second phase diamond drill program and an orientation IP survey is planned for the Hislop property east of Timmins, Ont. During 1988, the property was the s…