News in Brief (September 07, 1987)

Calgary-based Morrison Minerals reports revenues of $2,258,787 for the 6-month period ended June 30, for a net income of $297,407 or 5 cents per share. As of April 1, these figures include the consolidated results of Aerodat Ltd., a wholly owned airborne geophysical company.

Impala Resources has changed its name to International Impala Resources Ltd. (iir:vse) on a basis of one new for five old shares.

Net income for the second quarter this year amounted to $4.98 million (22 cents per share) on revenue of $22.6 million, Cambior Inc. reports. Net income for the first six months was $8.1 million (35 cents per share) on revenue of $41.5 million. Gold production during the second quarter was 33,505 oz, and for first half of the year, 63,944 oz.

Radisson Mining Resources reports its five directors have exercised their share purchase options totalling 85,920 “A” shares; the company received $41,241 which was added to its working capital.

Silverside Resources and Saskatchewan Mining Development have joined forces to explore for platinum and gold on five claim groups totalling about 15,000 acres near Uranium City in northern Saskatchewan.

Consolidated earnings, before extraordinary items, of almost $3.2 million (32 cents per share), on revenue of $22.5 million, have been reported by Roman Corp. for the first six months of 1987, compared with earnings of $892,000 (9 cents per share) on revenue of $19.7 million for the same period last year. After extraordinary items, consolidated earnings totalled $39.9 million ($4.05 per share), compared with $21.4 million ($2.18 per share) for the first half of 1986.

Minnova Inc. reports it will sell $65 million of adjustable rate convertible subordinated debentures to a group of investment dealers led by Gordon Capital Corp. The debentures will be convertible into Minnova common shares until Sept 30, 2007, at $34.25 per share. The interest rate will be 5%, subject to upward adjustment based on dividends paid on common shares. Proceeds will be used to fund two of the company’s projects, the Winston Lake mine near Schreiber, Ont., and the Ansil mine near Rouyn-Noranda, Que.