Cyprus, Amax spawn mega mining company
The merger of two of the largest mining companies in the U.S. is expected to create one of the largest in the world. Amax (NYSE) and Cyprus Minerals (NYSE) are proposing to merge into a new entity, Cy…
News
Greenstone Res. seeks financing
Now that Greenstone Resources has secured total ownership of Panamanian-based Minas Santa Rosa S.A., the next step is to rustle up financing for the gold project. Greenstone picked up the remaining 51…
NEWS ROUNDUP — Royal Oak output below budget
At 65,628 oz., the amount of gold produced by Royal Oak Mines (TSE) in the first quarter was less than expected. The reason: ore dilution problems at the Hope Brook mine on the southwest coast of Newf…
PEOPLE — RADCLIFFE RESOURCES (May 31, 1993)
Richard Pearson assumes presidency; Donald Lyons appointed director.
Canada Talc oldest producer in Ontario
If one were asked to name the oldest continuously producing mine in Ontario, the prolific gold mines of Timmins and Kirkland Lake may spring to mind. Few would guess that the province’s oldest mine is…
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. …
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…