News in briefs (October 05, 1987)

MFC Mining Finance says it will purchase VenturesTrident’s 25% joint-venture interest in Cactus Gold Mines’ operating heap-leach gold mine in California, 50 miles northeast of Los Angeles, in return for the issue of mfc shares (expected to be in the 2.6-to-3-million-share range) to VenturesTrident. The agreement is subject to shareholder, regulatory and board of director approval.

Tandem Resources reports flow- through private placements with C.E.F. Mineral Exploration and Co. Ltd. Partnership for $1.5 million (760,803 shares at $1.97) and with Q-Vest 1987 Mining and Co. Ltd. for $1 million (511,305 shares at $1.96), have been completed. Tandem says it will spend $4.5 million of flow-through financing on various projects before Feb 28, 1988.