Spot prices at a glance (December 19, 1988)
Week’s Price (US) Change Gold (per oz) $419.60 -$ 5.75 Silver (per oz) $ 6.14 +$ 0.03 Platinum (per oz) $598.00 -$ 1.00 Copper (per lb) $ 1.59 +$ 0.05 Lead (per…
1988
Initial work by Monopros suggests pipe not viable
Test work conducted by Monopros Limited at its diamond prospect in the Shellbrook area of Saskatchewan suggests the kimberlite structure found there is not economically viable. Monopros, a subsidiar…
X-Cal discovers new zone at Snowbird
A new gold- bearing area called the East zone was located by X-Cal Resources (TSE) along a 1.5-km length of previously unexplored structure at its 100%-owned Snowbird gold project near Fort St. James,…
Investment Comment Inco’s recap plans make it a buy
With a resounding 72% of shareholders approving Inco Ltd.’s controversial recapitalization plan, investors continue to support the company’s share price around the $39 mark. The recapitalization plan,…
La Fosse drilling underground at old Louvicourt mine
Earning a 10% interest in property 10 miles east of Val d’Or, Que., by carrying out underground exploration work is La Fosse Platinum (TSE). Owner of the property is COATS-listed Louvicourt Gold Mines…
Inco Gold ups investment in High River
Following the merger of High River Resources (VSE) and Nor- Acme Gold Mines (TSE), Inco Gold will be entitled to own up to 40.1% of the new company. Inco Gold’s is a wholly-owned subsidiary of Inco Lt…
Cambior to take over nova-Cogesco Res
Major Quebec gold producer Cambior Inc. (TSE) has announced a takeover bid for all of the outstanding shares of Nova-Cogesco Resources (TSE). Cambior says it will pay $1.80 per share on the condition …
Toronto Stock Exchange Massive Inco trades boost market volumes
More than 8.7 million shares of Inco Ltd. were traded today in a blizzard of action valued at more than $300 million. The immense volume, about 8.7% of the company’s issued and outstanding shares, com…
Radisson receives feasibility report
A positive feasibility study has been received by Radisson Mining Resources (ME) for its Duquesne gold project in Destor Twp., 18 miles north of Rouyn-Noranda, Que. Total reserves at the property as o…
Spirit Lake budgets $1.2 M for Edwards
Spirit Lake Explorations (ME) is outlining tonnage at its Edwards gold project, 30 miles northeast of Wawa, Ont. Located immediately east of the operating Kremzar gold mine, operated by Canamax Resour…
FINANCING (December 19, 1988)
VANCOUVER Anglo American Res — 624,000 offered @ 45 per unit. Blue Emerald Res — gross proceeds rec $210,000. Loumic Res Ltd — gross proceeds rec $200,000. Tansy Res — 400,000 sold for gross $140…
Calpine drill results bolsters Eskay Creek tonnage potential
The first hole from a phase-two drill program at Calpine Resources (VSE) Eskay Creek project in northwestern British Columbia appears to confirm the large tonnage potential of the discovery. Consolida…