O’Neill speaking at CIM
The Bank of Montreal’s Tim O’Neill will speak on “old industries in the new economy” when he addresses the Feb. 17 luncheon of the Toronto branch of the Canadian Institute of Mining, Metallurgy and Pe…
News
Trading records set by TSE
The Toronto Stock Exchange recorded its most active day ever on Feb. 3 when 106.3 million shares worth $1.3 billion (not a record) were traded. The daily feat comes on the heels of monthly records set…
SEG amalgamation
Orimar Resources is amalgamating with SEG Exploration (ME). The new company will retain the name, SEG Exploration.
LAST BUT NOT LEAST — Eastern Stone reopens quarry
The Belmont Rose granite quarry has been reopened. The eastern Ontario quarry produces granite blocks for sale to North American monument manufacturers and construction companies. Belmont Rose Granite…
Inco turns profit in 1993
Red ink flowed in the last quarter of 1993, but Inco (TSE) turned a profit on the year. Net earnings (unaudited) for last year amounted to US$28.2 million, compared with a net loss of US$17.6 million …
Glamis Gold boosts Imperial interest
Gold producer Glamis Gold (TSE) plans to buy a 35% interest in the Imperial County project in California. In exchange for paying $1 million in cash to Arizona Star Resource (VSE), Glamis would acquire…
Barrick to back Canarc
In an effort to muscle into South America, gold giant American Barrick Resources (TSE) has agreed to a strategic and financial relationship with Canarc Resource (VSE). The deal follows on the heels of…
LAST BUT NOT LEAST — Asarco sells Australian unit
International base metals producer Asarco (NYSE) has sold its remaining 45.3% interest in Asarco Australia for US$79.5 million. The sale of the 66.5 million shares will result in an after-tax gain of …
LAST BUT NOT LEAST — Silver Star raises $518,000
A stock offering by Silver Star (CDN) will raise $518,000. The company plans to use $410,000 to explore its Dasserat, Launay and Pascalis-Vauquelin gold properties in northwestern Quebec. Most will be…
LAST BUT NOT LEAST — Gold reserves rise in South Africa
South Africa’s gold and foreign currency reserves rose by 28.9% from November to December, 1993. Figures released in Pretoria by the Reserve (central) Bank show December’s total was 9.1 billion rand (…
Global Stone completes offering
Following regulatory approval of its special warrant prospectus, Global Stone (TSE) has received, from escrow, $28.8 million from the sale of 6.3 million special warrants. About $10 million from the o…
Aurora secures mine financing
Australian mining firm Aurora Gold has secured US$45 million in funding for its gold and silver project in Kalimantan, on the Indonesian island of Borneo. Rothschild Australia, NM Rothschild & Sons an…