GOLD FUNDS (August 16, 1993)
BGR Central Net Value $13.81 $6.41 Price $12.00 $6.625 Discount 13.12% 3.4% Value $77,366,000 $119,907,863…
News
U.S. REPORT — Southern Copper shuts Oracle
Continuing losses have prompted Southern Copper (VSE) to close its 70%-owned Oracle Ridge copper mine in Arizona until mid-October. The company plans to review all aspects of the mill to consider poss…
U.S. REPORT — Inventory sought of abandoned mines
The U.S. federal government has been asked to conduct an inventory of abandoned mine sites. The request came from the president of the American Mining Congress (AMC), John Knebel, who asked for an inv…
LAST BUT NOT LEAST — Rhonda, Noranda drill Woolgar
Drilling is under way on the Woolgar-Tree River area, east of Coppermine, N.W.T., reports Rhonda Mining (ASE). The program is designed to test large geophysical (induced polarization) anomalies in the…
LAST BUT NOT LEAST — Rights offering by Dufresnoy
Regulators have approved a rights offering for Dufresnoy, Societe d’exploration miniere (ME). Each shareholder will receive one right for each common share held. Four rights will buy one unit (compris…
LAST BUT NOT LEAST — Nerco sells oil and gas assets
Having decided to focus on coal mining, Nerco, a wholly owned subsidiary of RTZ (NYSE), has sold its oil and gas assets for about US$510 million in cash. RTZ bought Nerco in June for about US$470 mill…
Casino drilling continues in Yukon
With the drills still turning on the Casino copper-gold property in the Yukon, Pacific Sentinel Gold (VSE) has expanded its budget for this year’s work by $3 million to a planned total of $10.2 millio…
Airborne work planned at Cross
A crew has arrived at the Cross mine properties in Colorado to begin an airborne geophysical survey, International Larder Minerals (TSE) reports. An additional 45 claims have been acquired west of the…
Vengold buying 20% stake in RTZ’s Lihir gold deposit
The stage is set for Venezuelan Goldfields (VSE) to acquire a 19.99% interest in the Lihir Island gold deposit in Papua New Guinea. Widely considered to be the world’s largest undeveloped gold resourc…
Tillicum permits received
Permits are in hand for a bulk sample of the Heino-Money zone at the Tillicum Mountain property near Nakusp, B.C. Bethlehem Resources (TSE) and Goldnev Resources (VSE) signed an agreement earlier this…
PEOPLE — KENNECOTT
Clynton Nauman appointed general manager, Spring Creek Coal Co. N5…
NEWS ROUNDUP — Tri Origin drills Sault property
Toronto-listed Tri Origin Exploration has begun a 2,000-metre program at its gold project 90 km north of Sault Ste. Marie, Ont. Previous trenching and diamond drilling defined a 4-km-long, gold-bearin…