Proxy battle at Massive meeting
The board of directors for Massive Resources (TSE) got a surprise at the company’s annual meeting recently in Toronto. President John Sadowski intended to announce at the meeting that he was negotiati…
1988
Lyon Lake has accessed drift at former Mosquito gold mine
A public financing of $8.1 million has been arranged by Lyon Lake Mines (ME) to fund exploration at the company’s Belleterre and Mosquito gold properties. After spending $4.5 million to explore the tw…
Teeshin agreements
Teeshin Resources (VSE) has entered into option agreements with three vendors for claims in the Dome and Sibola Mountain areas of British Columbia. The first deal gives Teeshin the right to earn a 50%…
Teck reserves up
Tundra Gold Mines (VSE) is preparing an offer to purchase the interest held by Teck Corp. (TSE) in the former producing Lamaque gold mine near Val d’Or, Que. The offer will also be for the 1,800-ton-p…
Noranda to boost stake in Falconbridge to 29%
When Noranda Inc. (TSE) recently announced plans to increase its stake in Falconbridge Ltd. (TSE) to just under 30%, Chairman Alf Powis said he had no intention of seeking full control. “Our plan is t…
Property acquisition by Card Lake
A base metals property has been optioned by Card Lake Resources (COATS). Located in the Tumpline Lake area of the N.W.T., the property is 60 miles northeast of Yellowknife. Grab samples from two showi…
Battle over Frasergold Continues
The battle for control of the Frasergold project west of Williams Lake, B.C. appears to be far from over. Two Vancouver-based juniors, Southlands Mining Corp. (VSE) and Eureka Resources, (VSE) have lo…
Kingswood bullish on Devon results
Toronto-based Kingswood Explorations (ASE) says it is planning to begin drilling Coulson Resources’ (ASE) Devon mine property east of Timmins, Ont. following a takeover bid for Coulson. Pending shareh…
Tarzan in Joburke
Tarzan Gold (ASE) has entered into an agreement with Noranda Inc. (TSE) which gives Tarzan the right to earn a 50% interest in Noranda’s Joburke property near Timmins, Ont. Tarzan can earn the interes…
FINANCING (October 10, 1988)
ONTARIO Markbridge — final rec iss offer 460,000 @ $1.40 per sh to net proceeds $322,000. VANCOUVER Avondale — gross proceeds rec $157,500. Jacqueline Gold — 400,000 sold for gross $160,000. Kyber …
Metal Prices (October 10, 1988)
FREE MARKET London Metal Exchange Spot closing prices in Pound Sterling per tonne, except zinc and nickel ($US per tonne) Date Oct 4 Oct 3 Sept 30 Sept 29 Sept 28 Copper 1535…
Rouyn, Lac mining gold at Francoeur
Production at a rate of 450 tons per day has officially begun at the Francoeur gold mine, near Rouyn Que., equal partners Rouyn Mining Resources (TSE) and Lac Minerals (TSE) say. For the first six mon…