Three-way merger gets thumbs-down
A proposed merger between Great Lakes Minerals (GKM-T), Santa Cruz Gold (SCG-T) and Manhattan Minerals (MAN-T) has been sidelined by the results of due diligence investigations.The companies agreed no…
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MOST ACTIVE ISSUES, July 3-9
ExchgVol(000s)CloseEssex ResV67791.80Castle RockV…
STOCK MARKETS — Heavy trading reported among Western juniors
With more than five months remaining in 1996. Strong trading in junior resource stocks pushed the Vancouver Stock Exchange to an all-time annual record high for the value of shares traded. The previou…
Copper markets still shaky following Sumitomo debacle
The crash in the copper market, set off, in an attempt to bolster the metal’s price, by Sumitomo copper trader Yasuo Hamanaka, has left the world’s metal-trading floors shaking. The industry had known…
PEOPLE — TAKURA MINERALS (July 15, 1996)
Jeff Arnold appointed director and secretary.
Arequipa Res. advances Pierina property
With three rigs turning on the Pierina gold property in north-central Peru, Arequipa Resources (AQP-T) is half-finished a program consisting of 5,000 metres of reverse-circulation (RC) and diamond dri…
PEOPLE — SUMMEX
Lawrence Page appointed director and Murray Pezim appointed chairman.
EAG raises $33m to explore Africa
The newest member of the stable of juniors affiliated with St. Genevieve Resources (SGV-T) has raised $33 million to explore greenstone belts in Africa.Emerging Africa Gold (EAGI-C) acquired several g…
Consortium will develop Vasilkovskoye
A licence has been issued to a 3-company consortium selected by the government of Kazakhstan to explore and develop the Vasilkovskoye gold deposit.The deal, subject to completion of contract documenta…
PEOPLE — ST ANDREW (July 15, 1996)
Charles Gryba appointed president and director.
Cyprus Amax drills in Indonesia
A drill program by a unit of Cyprus Amax Minerals (CYM-N) is under way at Kalimantan Gold’s (KALG-C) Mansur prospect in Kalimantan, Indonesia.Cyprus has completed five of the seven holes planned for t…
PEOPLE — TRANS ATLANTIC (July 15, 1996)
Arvin Singh appointed director.