Falconbridge offers early retirement
Nickel producer Falconbridge has instituted an early retirement program which will likely result in a staff reduction of 200-300 by the beginning of next year. In Sudbury, where Falconbridge will be a…
1991
Homestake looks at Hughes Lang bet
Hughes Lang (VSE) has signed a letter of intent which clears the way for Homestake Canada to option the Pickle Pat property near Pickle Lake, Ont. By spending $800,000 and making cash payments totalli…
Financing (August 05, 1991)
Fairfield Minerals Ltd – 500,000 units consisting of 1 sh and 1 wt offered @ $1.16 per unit. North Slope Minerals Inc. – 1,200,000 shs offered @ 25 per sh. Avril Explorations Inc. – 500,000 shs offere…
South Atlantic arranges funding
A recently arranged private placement of 538,462 shares at the price of 65 cents per share will net South Atlantic Ventures (VSE) about $336,000 after commissions. The placement was purchased by Westm…
IOCC Gold Options (August 05, 1991)
Options Open Series Volume Last Interest The New York closing gold price was $362.50 per oz. Last quotations for gold options traded in Montreal and Vancouver as provided at the close of trading each …
More visible gold from Spectrum
More visible gold mineralization has been intersected in a recent hole drilled on the Spectrum property in northwestern British Columbia. Project operator Columbia Gold Mines (VSE) said hole 91″D76 in…
INSIDER TRADING (August 05, 1991)
Ivanhoe Capital, a holding company controlled by Vancouver promoter Robert Friedland, recently sold a significant portion of its Fairbanks Gold (VSE) shares. Last month, Ivanhoe, which owns approximat…
Cheni’s drilling increases reserves at J&L property
Reserves at the J&L property near Revelstoke, B.C., have increased substantially following a recently completed $3.4-million exploration program. Cheni Gold Mines (TSE) is earning a 60% interest in th…
U.S. REPORT (August 05, 1991)
Following the completion of a 20,000-ft. drilling program earlier this year, RFC Resource Finance (TSE) reports a jump in reserves at its Pend Oreille zinc-lead project. Preliminary estimates put rese…
Wheaton to drill Chieftain Hill
Having just completed its first public offering, Wheaton River Minerals (TSE) is getting ready to explore its 104-sq.-km property near Whitehorse, Yukon. Deep drilling is scheduled to commence immedia…
Minnova, Rea go underground at Samatosum
Underground mine development is scheduled to begin shortly at the Samatosum mine near Adams Lake, B.C. The mine is 70% owned by Minnova (TSE) and 30% owned by Rea Gold (TSE) which also holds a 5% net …
Noranda earnings in decline
Lower metal prices contributed to a drop in the second-quarter and 6-month earnings of Noranda (TSE)). The resources giant announced net earnings for the six months ended June 30 of $33 million (two c…