Flag to deepen Wanapitei holes
Having intersected a wide magnetite zone in two holes collared two miles apart on its Wanapitei holdings in Mackelcan Twp., Ont., Flag Resources (ASE) plans to use a larger drill to deepen the holes. …
News
Hemlo’s Freewest stake jumps to 27%
Toronto-based Hemlo Gold Mines (TSE) will increase to 27% its interest in Freewest Resources (TSE) by acquiring one million shares of the junior under a financing agreement signed in 1989. The common …
Golden Star locks up golden deal
A deal to acquire two properties in French Guiana has been signed by Golden Star Resources (TSE). The first property, known as St. Elie, covers 39 sq. miles (100 sq. km) and was formerly the largest p…
METALS MARKETS — Gold up on renewed investor interest
The sharp turnaround in the gold price in April and its continued strong upswing should herald renewed financial strength for this sector of the mining industry. Spurred by investors jumping into the …
Gold Funds (May 31, 1993)
Gold Funds as of May 25 BGR Central Net Value $12.28 $5.87 Price $10.50 $6.375 Discount 14.50% 8.6% Value $68,789,000 $107,254,913…
Financing (May 31, 1993)
Calco Resources Inc. — 1,000,000 units @ $1.35 and each unit consists of sh and 2 wts. 2 series A wts purchase sh. Delmay Mining Corp. — 10% convertible debentures @ $100.00. Vortex Energy & Mineral…
Toronto Stock Exchange (May 31, 1993)
— Week — May 25 May 24 May 21 May 20 May 19 High Low Composite”300″ 3859.91 N/A 3835.99 3831.59 3811.29 3859.91 3801.34 Metals&Minerals 2916.19 N/A 2880.75 2900.64 2882.36 2925.62 2860.54 Integrated…
Great Lakes gears up for production
It has been three long years since Great Lakes Minerals first listed on the Toronto Stock Exchange and embarked on a quest to join the select group of Canadian juniors that can boast an operating cash…
BM&S exploring
Toronto-listed Brunswick Mining and Smelting has earmarked $37.5 million over the next five years to find ore within trucking distance of its New Brunswick operation. If this search proves fruitless, …
Budget changes affect juniors
Mining-company representatives were one of the few groups smiling after studying Ontario’s new budget, says a Canadian Press report. The industry is applauding the government’s capital tax relief for …
Faro re-opening possible — Curragh lands Korean equity
Operations at the Faro lead-zinc mine in the Yukon are expected to resume in September following a financing agreement among two Korean companies and Toronto-based Curragh (TSE). Under the agreement, …
Communications workshop set
A workshop on mining-related communications will take place June 7 and 8 in Sudbury, Ont. The workshop is an outgrowth of the Intergovernmental Working Group on the Mineral Industry and the Whitehorse…