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…
1988
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…
Construction at Cheni Gold Mines project on schedule
Construction work at the Cheni Gold project in the Toodoggone area of British Columbia is on schedule, but a switch from shrinkage to blast-hole stoping is expected to increase development costs over …
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…
INSIDER TRADES (October 10, 1988)
Black Cliff — N. Kacira bought 30,000 (Aug) to hold 96,000. Cominco — Teck Corp. bought 1,217,400 (July) to hold 3,995,082. Denison — Estate of S.B. Roman holds 751,244 class A; 826,368 class B sha…
Homestake chairman sets optimistic tone for AMC convention
Describing it as the “dawn of a new day for the American mining industry,” Homestake Mining Chairman Harry Conger set the tone for what was certainly an upbeat American Mining Congress convention here…
Rio Algom adding to uranium reserves
A letter of intent has been entered into between Rio Algom (TSE) and Kerr-McGee Corp. of the United States whereby Rio Algom will acquire uranium properties owned by Kerr-McGee in Wyoming and all the …