Burgess Point to buy Vencorp
Toronto-based Burgess Point Resources (CDN) plans to acquire Venezuelan Mineral Development Corp. (Vencorp). The proposed takeover would see Burgess shares consolidated on a 1-for-7 basis. Shares of V…
News
Dakoro venture producing gold from Bolivian placers
The Dakoro joint venture is now producing gold from one of its six properties in Bolivia. Dakota Resources (ASE) owns a half interest in the venture through wholly owned subsidiary SGS Resources. Prod…
NEWS IN BRIEF (January 03, 1994)
Lansco Resource (LNS:VSE) has changed its name to Bomax Resource (BXS:VSE) on a 1-new-for-10-old-share basis.
Sutton placement
A private placement of 316,305 units at $25.50 each will net Sutton Resources (VSE) about $8.1 million. Each unit includes a share, plus a 2-year purchase warrant exercisable at $25.50 in the first ye…
1993 A LOOK BACK — New mine production comes on-stream in
Several mines were either placed in production or reopened in 1993 by Canadian companies, both at home and abroad. Gold was the metal of choice and Ontario and Quebec experienced the most activity. Th…
Rio Algom terminates Key Anacon option
Citing the unlikelihood of finding a base metals deposit to meet its economic requirements, Rio Algom (TSE) has dropped its option on the Key Anacon Mines (TSE) property in the Bathurst camp of New Br…
Two Newmonts combine assets, reserves
Denver-based Newmont Mining and 90.1%-owned subsidiary Newmont Gold will combine their assets, gold reserves and operations. The plan calls for Newmont Mining to move all its operating assets, liabili…
Diamond play gains credibility in 93
If 1992 was the year diamond fever swept Canada, 1993 will be remembered for the solid exploration results that made even diehard skeptics concede that this country may soon have its first diamond min…
STOCK MARKETS — Resource stocks boost TSE indexes at
The resource stocks took one last kick at the can before the new year dawned. They boosted the Toronto Stock Exchange 300 Composite Index to a big gain on the last day of our report week. The TSE 300 …
MacArthur permits in hand
Permits for development of the MacArthur copper deposit are finally in hand for owner Arimetco International (TSE). The project is about five miles north of the companys Yerington copper mine near the…
1993 A LOOK BACK — Giant mine workers return
Union members at the Giant mine in Yellowknife, N.W.T., returned to their jobs in early December, ending a labor dispute dating back to May, 1992. Some 25 members of the Canadian Association of Smelte…
1993 A LOOK BACK — New U.S. mining royalty
Hard-rock miners in the U.S. operating on public land, including some Canadian gold producers, are facing a government-imposed royalty, but the amount was not settled in 1993. A proposal by the Clinto…