Galico drops Vera Cruz option
After completing a due diligence review, Murray Pezim’s Galico Resources (VSE) decided to drop its option to acquire a 50% interest in the Vera Cruz property held by Vera Cruz Minerals (VSE) in New Me…
1991
LETTERS TO THE EDITOR Right meeting but wrong date
As we prepare for Corona Corp.’s annual and special general meeting which will take place May 31 in Vancouver, we were a little non-plussed to read in the TSE market report (T.N.M., May 6/91) that our…
Polcap signs agreements with Polish zinc producer
A private Montreal venture-capital company, Polcap Investments, has signed agreements with zinc producer ZGH Boleslaw Mines of Poland to act as financial, managerial and technical adviser. In announci…
PEOPLE BENTON RESOURCES
John Erickson appointed director.
On the Level Ontario mining faces almost insurmountable hurdles
“Go north, young man, go north.” But not in Ontario. There’s nothing wrong with the geological environment in that once-prosperous province, but governments are changing the fiscal and operating envir…
Kennecott sells Kemess interests
Merger partners El Condor Resources(VSE) and Covenant Resources (VSE) recently agreed to purchase the North and South Kemess property interests held by a unit of Kennecott. El Condor earned a 60% int…
Additional funding for Armeno project
Additional funding in the amount of US$1.45 million will be provided by Nissho Iwai Corp. of Japan to go toward the preproduction development costs and working capital of the San Bartolome mine projec…
Crude will take Eagle River to production `with or without’ Hemlo
The Eagle River gold deposit in the Mishibishu Lake area of northern Ontario will enter production “with or without” the help of 60% owner Hemlo Gold Mines (TSE), says Richard Nemis, president of Cent…
Correction (May 20, 1991)
Contrary to what was reported in The Northern Miner (May 6/91), Deak Resources director Douglas Hume recently bought 9,000 shares for 54 cents to hold 147,500.
NEWS IN BRIEF BMR Gold
BMR Gold (TSE) has hired a New York investment banking group to help in arranging a private financing worth up to $4.5 million to be spent on BMR’s Oliver Hills heap leach facility, which is nearing s…
NEWS IN BRIEF (May 20, 1991)
Storimin Exploration (ASE) said it is planning surface work, and possibly a drilling program, this summer at its recently acquired base metal property in Robertson Twp. in northeastern Ontario, adjace…
FINANCING (May 20, 1991)
Goodgold Resources Ltd. — 1,000,000 units consisting of 1 sh and 2 wts offered @ 40 cents per unit. International Impala Resources Ltd. — 650,000 non-flow through units consisting of 1 non-flow th…