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…
1991
LETTERS TO THE EDITOR (August 05, 1991)
Thank you for your article (T.N.M., July 22/91) updating readers with information on the Edwards project in the Wawa, Ont., area. I understand that the source material was Spirit Lake Explorations’ 9-…
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…
TSE Short Positions (August 05, 1991)
Semi-monthly reports as of July 15, showed 22,733,628 shares of 571 issues compared with 22,630,379 shares of 543 issues on June 30. Larger individual positions included: Amer. Barrick 335,062, up 106…
Denison reports $1.1-million loss during second quarter
The red ink continues to flow at Denison Mines (TSE) as the uranium miner wrestles with debt and negotiates with key lenders to its Petromarine Italia subsidiary. Toronto-based Denison reported a loss…