Holmer arranges $1.3m financing
Toronto-based Holmer Gold Mines (ASE) has entered agreements with two investors to raise up to $1.3 million. The first private placement with MVP Capital (TSE) is for 1.2 million units at 30 cents eac…
News
LAST BUT NOT LEAST — Westfield adds to cash position
Earnings of $453,000 for the nine months ended Sept. 30, 1993, have added to the fortunes of Westfield Resources (TSE). The debt-free company has cash and marketable securities totaling $24.3 million,…
EDITORIAL PAGE — Saskatchewan royalties?
Much attention has been drawn to the proposed royalties on metal mines in the United States. There, the House of Representatives has passed a bill calling for an 8% net smelter royalty on mines situat…
Glimmer, Hemlo get more results
There’s more encouraging news from the Hislop gold property in northeastern Ontario. Hemlo Gold Mines (TSE), the operator with a 60% interest, and Glimmer Resources (VSE), with 40%, said the five step…
COMMENTARY — The price outlook for gold
We see gold trading between US$360 and US$390 per oz. for the remainder of 1993, and we have used an average price for calendar 1994 of US$370. Net central bank sales should continue, prices will like…
NEWS ROUNDUP — Virginia, Placer in Quebec venture
Placer Dome (TSE) and Virginia Gold Mines (ME) have agreed to explore and develop various projects in northeastern Quebec. The terms of the agreement are as follows: * Placer will fund all expenditure…
Gold book compares international producers
A fundamental shortfall of supply over demand will cause the price of gold to rise in 1994 and 1995, according to Goldbook ’93, published by London-based T. Hoare & Co. Echoing this prediction is Rhon…
Minerals symposium scheduled
The 16th annual Ontario Mines and Minerals Symposium will be held Dec. 14 and 15 in the Macdonald Block at Queen’s Park, Toronto. Hosted by the Ontario Ministry of Northern Development and Mines, the …
Platinum mine under evaluation in Zimbabwe
Australian-based BHP Minerals has nearly finished evaluating a potential new platinum mine in Zimbabwe. BHP is earning a 67% interest from Delta Gold by completing a feasibility study and, if positive…
LAST BUT NOT LEAST — Abacus trenches geochem anomaly
Junior Abacus Minerals (VSE) has completed trenching and sampling on the Brookfield gold project in Nova Scotia. The project lies within the province’s Meguma group of rocks. Abacus is looking for dis…
PEOPLE — CHAPLEAU RESOURCES (December 06, 1993)
Eric Wiltzen appointed president or director.
Venezuela’s still hot — Verdict lifts Gold Reserve price
Following a Venezuelan Appeal Court’s decision on a lawsuit regarding ownership of the Brisas property, shares of Gold Reserve (TSE) climbed to record 52-week highs. Shares were trading at $20.25 at p…