GOLD FUNDS (January 10, 1994)
Gold Funds as of Jan. 5 BGR Central Net Value $16.09 $6.58 Price $14.63 $6.875 Premium 4.5% Discount 9.11% Value $90,134,000 $124,432,688…
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TSE INDICES Week —
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FINANCING (January 10, 1994)
Bema Gold 6.4 million units issuable upon conversion of 2.4 million first special wts and 4 million second special wts, each unit consisting of one common sh and one sh purchase wt, and 100,000 common…
Kalahari to drill Quebec anomaly
Deep-wedged drilling will resume in January on the St. Marcel property in the Eastern Townships area of Quebec. Earlier this year, a vertical hole was drilled to test a one-mile-wide-by-5-mile-long ma…
Antilles acquiring Venezuelan gold projects
Spokane, Wash.-based Antilles Resources (VSE) can acquire an 80% interest in two gold concessions in southeastern Venezuela. Each of the Janice I and II concessions covers about 12,355 acres and is un…
METALS COMMENTARY — Interesting year ahead for metals
Along with everyone else, Canadian metal producers finished 1993 with a sigh of relief, and hope for a better year ahead. Last year, amidst the most severe recession in decades, Canadian miners were i…
STOCK MARKETS — Gold bugs aglow as indexes post gains
Gold bullion continues its ascent as we begin a new year, finishing the period ended Jan. 4 at the US$394.10-per-oz. level for a gain of about US$8.35 per oz. Strength in the yellow metal helped the V…
Valdez acquires more Mexican claims (January 10, 1994)
Minera Valdez Gold S.A. de C.V., a wholly owned subsidiary of Valdez Gold (ASE), has staked additional ground in Sonora state, Mexico. The 177-sq.-mile property, known as Marisa, adjoins the company’s…
Richmont closes private placement
Gold producer Richmont Mines (ME) has closed a private placement of 2.5 million special warrants at $4 each. Each special warrant entitles the holder to buy one Richmont share at no additional conside…
Ontex-Metalore lawsuit resolved
After seven years of legal battles, the lawsuit between Ontex Resources (ASE) and Metalore Resources (TSE) over the Brookbank gold property in northwestern Ontario has finally been resolved. The end c…
Placer’s Willson speaking at CIM
The buzzword “globalization” will figure prominently in the speech of Placer Dome President John Willson when he addresses the Jan. 20 dinner meeting (and Students’ Night) of the Toronto branch of the…
OSC seeks power to make own rules
The Ontario Securities Commission (OSC) has recommended to a provincial task force that it be granted rule-making powers, although any new regulation could still be vetoed by the Ontario government. T…