Teeshin stake in Redstone
Teeshin Resources (VSE) has signed a letter of intent with Timmins Nickel, a private company, giving it the right to buy 3.5% of Timmins’ interest in the Redstone nickel deposit. Located near Timmins,…
1989
Mineable reserves up 50% at Neptune’s Colomac bet
Neptune Resources’ (TSE) huge Colomac gold project has just got bigger. Results of a 45,000-ft infill drilling program has enabled the company to announce a 50%-reserve increase at the Northwest Terri…
Survey results
The New Brunswick Department of Natural Resources & Energy has released the results of a till geochemistry survey conducted over the central part of the Miramichi Zone in the northern part of the prov…
Ontex completes financing, continues suit against Metalore
Ontex Resources (ASE) has completed a $603,000 private placement financing representing the issuance of 900,000 common shares at 67 cents per share. The proceeds from the financing will be used for ge…
Bridger plans gold production in Chile
By June of 1989, Bridger Resources (VSE) and its new joint venture partner expect to have completed construction of a 110-ton-per-day mill on the La Pepa gold property in Chile, to be followed by the …
Quartz denies decision
Despite several reports to the contrary published in Oregon newspapers, partners Galactic Resources Ltd. (TSE) and Quartz Mountain Gold Corp. (TSE) say a production decision has not been made for the …
Force majeure lifted by Magma Copper
Recently lifting its force majeure, which was announced in December, was Magma Copper (Amex). The declaration was made under the company’s toll smelting and refining contracts, and refined copper sal…
Drilling extends zone at graphite deposit of Stewart Lake
Drilling on the Kirkham graphite deposit in eastern Ontario of Stewart Lake Resources (TSE) has extended the strike length of zone 2 x 700 ft to the south. President Richard Scratch said two drills ar…
Goldteck tailings deal
Goldteck Mines (TSE) has completed an option agreement with Matachewan Consolidated Mines (COATS) which pertains to the tailings at Matachewan’s former producing gold mine near Matachewan, Ont. From 1…
Alberta Stock Exchange Durga bucks trend
If 1988 was a nightmare year for Canadian brokers, they could hardly have gleaned much comfort from what they saw on the Alberta Exchange this week. In keeping with the general lack of interest in spe…
Metal Prices FREE MARKET London Metal Exchange (January 23, 1989)
Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Jan 17 Jan 16 Jan 13 Jan 12 Jan 11 Copper 1950-1955 1948-1949 1869-1870 18…
Montreal Exchange Positive trading days
Continuing its winning ways this past week, the stock market recorded healthy gains in both its market portfolio and mining and minerals indices, on daily trading volumes ranging between 4.9 million a…