Central Crude makes payment
Central Crude (TSE) has made an option payment of $175,000 to Storimin Exploration (ASE) and Tandem Resources (ME). The payment is part of an agreement among Central and the other two companies whereb…
1994
U.S. Hall plans renovation work
The U.S. National Mining Hall of Fame and Museum plans to begin work soon on a US$788,000 renovation and new construction project. The Hall occupies a 3-storey Victorian schoolhouse in Leadville, Colo…
Western Quebec
A private placement of treasury shares will be used to redeem a promissory note of $600,000, in part to provide funds for further exploration of the McKenzie Break gold property in northwestern Quebec…
GOLD FUNDS (January 10, 1994)
Gold Funds as of Jan. 5 BGR Central Net Value $16.09 $6.58 Price $14.63 $6.875 Premium 4.5% Discount 9.11% Value $90,134,000 $124,432,688…
TSE INDICES Week —
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FINANCING (January 10, 1994)
Bema Gold 6.4 million units issuable upon conversion of 2.4 million first special wts and 4 million second special wts, each unit consisting of one common sh and one sh purchase wt, and 100,000 common…
METALS COMMENTARY — Interesting year ahead for metals
Along with everyone else, Canadian metal producers finished 1993 with a sigh of relief, and hope for a better year ahead. Last year, amidst the most severe recession in decades, Canadian miners were i…
STOCK MARKETS — Gold bugs aglow as indexes post gains
Gold bullion continues its ascent as we begin a new year, finishing the period ended Jan. 4 at the US$394.10-per-oz. level for a gain of about US$8.35 per oz. Strength in the yellow metal helped the V…
Valdez acquires more Mexican claims (January 10, 1994)
Minera Valdez Gold S.A. de C.V., a wholly owned subsidiary of Valdez Gold (ASE), has staked additional ground in Sonora state, Mexico. The 177-sq.-mile property, known as Marisa, adjoins the company’s…
Richmont closes private placement
Gold producer Richmont Mines (ME) has closed a private placement of 2.5 million special warrants at $4 each. Each special warrant entitles the holder to buy one Richmont share at no additional conside…
Planned transfer of interests fails
A proposed transfer of the Magino and Magnicon mining properties to a newly formed joint exploration company will not proceed. The proposed transaction involved Flanagan McAdam Resources (TSE), McNell…
Int’l Homestead hits gold and zinc in Kirkland Lake-Larder
International Homestead Resources (VSE) is one of many companies with projects under way in the Kirkland Lake-Larder Lake camp of northeastern Ontario. Drilling to test a 6-channel, airborne electroma…