Richmont acquires Camflo mill
For a nominal cash consideration and a commitment to cover eventual reclamation liabilities estimated at about $1.3 million, Richmont Mines (ME) now has its own gold mill. It is the old 1,400-ton-per-…
1993
Open pit may be expanded at the Dome gold mine
At the Dome gold mine near Timmins, Ont., a feasibility study is in the works to determine the economics of expanding the open pit. It should be completed in the fourth quarter. Also under considerati…
GOLD FUNDS (September 06, 1993)
Gold Funds as of August 31 BGR Central Net Value $13.86 $6.15 Price $12.63 $6.500 Discount 8.94% 5.7% Value $77,659,000 $117,645,450…
OSC to appeal penny stocks ruling
The Ontario Securities Commission (OSC) will appeal a judge’s ruling which struck down a policy aimed at controlling abuses in the sale of penny stocks. Justice Robert Blair of the general division of…
Viola MacMillan: 1903-1993 — Industry loses `queen bee’ of
A pioneer of the Canadian mining industry, Viola MacMillan, has died in Toronto. She was 90. A prospector who headed the Prospectors and Developers Association of Canada (PDAC) for 21 years until the …
NEWS IN BRIEF (September 06, 1993)
Braemont Resources (BMZ:VSE) has changed its name to Lumby Resources Corp. (LBY:VSE) with a consolidation of capital on a 1-new-for-2-old-share basis.
Short courses precede meeting
Two short courses will precede the Nov. 3-5 meeting of the Alaska Miners Association (AMA) in Anchorage. Topics of the 2-day short courses, to take place Nov. 1 and 2, will be “Precious metal-bearing …
U.S. Hall of Fame to induct eight (September 06, 1993)
The National Mining Hall of Fame in the U.S. will induct eight new members at a Sept. 19 banquet in San Francisco, Calif. Conducting the induction ceremony will be Simon Strauss, chairman of the Hall’…
LAST BUT NOT LEAST — Crystallex acquires more properties
A US$11-million acquisition is expected to almost double the land package held by Crystallex International (VSE) in northeastern Venezuela. The junior has signed an option agreement to acquire four co…
STOCK MARKETS — Flatness of TSE reflects static bullion
Another quiet week for gold bullion prices — the spot price hovered for most of the week at about US$371 per oz. — was also reflected in a flat Toronto Stock Exchange gold and silver index. It ended…
Bolivar Goldfields to spend $5-million
VSE-listed Consolidated Cassandra Resources plans to spend US$5 million exploring its new land package in Bolivar state, Venezuela. The company is expected to change its name to Bolivar Goldfields to …
NEWS ROUNDUP — Deak pours first Astoria brick
The first gold brick from the Astoria gold mine in northwestern Quebec was poured recently by Deak Resources (TSE). Ore from the Yorbeau project near Rouyn-Noranda, Que., is being trucked to Deak’s Vi…