6.6-m Breakwater shares to be sold
Dundee Bancorp. (TSE) has notified the Ontario Securities Commission and the Toronto Stock Exchange of its intention to sell more than 6.6 million common shares of Breakwater Resources (TSE). The shar…
News
ODDS’N’SODS — Surprise on a winter’s day
A few years ago, during one unforgettable December, I was under contract to a mining company to work on claims near the Madawaska River, east-northeast of Bancroft, Ont. As assistant to Ted, the consu…
Oasis, Soquem drill gold property at Chibougamau
Both Consolidated Oasis Resources (ME) and Quebec Crown-owned Soquem are encouraged by results of a $200,000 exploration program on the Pontiac gold property near Chibougamau, Que. An induced polariza…
Cons. Pope raising exploration funds
Junior Consolidated Pope Valley Holdings (VSE) expects to raise $10.5 million through a special warrant financing. Goepel Shields, Yorkton Securities and First Marathon have agreed to an agency offeri…
Soquem funds drilling on Nelligan Twp. play
Quebec Crown corporation Soquem will fund 1,600 metres of drilling on a gold-diamond property in Nelligan Twp., Que. The 185-claim property, near Le Tac, is jointly held by Ressources Orient (ME) and …
Barrick ups 1st-quarter earnings and production
Thus far into 1994, American Barrick’s (TSE) earnings statement shows every sign of outshining that of last year. For the first quarter, revenues were US$187.3 million compared with US$144.1 million i…
Habsburg modifies placement
Junior Habsburg Resources (TSE) reports that its previously announced private placement with Canaccord Capital has not been completed. Instead, Habsburg will sell, on a private placement basis, up to …
NEWS ROUNDUP — New Island in deal with Goldbar
Alberta-listed New Island Minerals (NIM) intends to acquire mining assets from CDN-listed Newfoundland Goldbar Resources (NGR). Included are 51% of the shares of Tiara Marble. NIM will retain ownershi…
Lac to triple reserves in next five years
For gold and base metal producer Lac Minerals (TSE), 1993 was a year with mixed results. Attempts to reduce cost and increase productivity were offset by after-tax provisions associated with mine clos…
T & H buys stake in cement plant
Toronto-based T & H Resources (TSE) intends to acquire at least a 49% interest in the Shuangyang cement plant in northeastern China. It will buy the interest from Imperial Investment, subject to a due…
Battle Mountain starts expansion plan
In the first quarter, Battle Mountain Gold (NYSE) had a consolidated net income of US$2.8 million on revenues of US$52.8 million. This compares with a net loss of US$3.2 million on revenues of US$60 m…
Noranda convicted in mine fatality
A sentencing hearing has been scheduled for May 31 to deal with the conviction of Noranda Minerals on three violations of the Occupational Health and Safety Act. The conviction stems from a 1991 fatal…