PROFILE (June 15, 1992)
Canada’s mining industry is poised to enter its diamond phase, say those who have a stake in the Lac de Gras region, from which a bulk sample yielded gem-quality stones last month. The stock market re…
News
Third parties court Bethlehem
Copper and zinc producer Bethlehem Resources (TSE) recently received proposals for a merger as well as a takeover from two separate groups. Henry Ewanchuk, president of the company, said Bethlehem rec…
McDonald continues Noramco saga by optioning Pickle Crow to
Bruce McDonald has kept a low profile since selling Noramco Mining (TSE) and its portfolio of junior companies to Breakwater Resources (TSE) several years ago. As it turned out, Breakwater had to writ…
Virginia Gold in option deal
An option agreement to earn a 100% interest in the Sagar III property in Quebec’s Labrador Trough has been finalized, Virginia Gold Mines (ME) reports. The junior says the property, 50 sq. km in size,…
NEWS IN BRIEF (June 15, 1992)
Applan Resources Ltd. (APL:VSE) has changed its name to Sultan Minerals Inc. (SUL:VSE) with a consolidation of capital on a 1-new-for-4-old-share basis.
Minnova outlines low-grade deposit at Benoit project
A 24-hole, second-phase program completed on Freewest Resources’ (TSE) Benoit gold property northeast of Rouyn, Que., has yielded a preliminary reserve estimate of 3.3 million tons grading 0.076 oz. g…
Bank calls Curragh’s Westray loan
The Westray coal mine’s fate is now in the hands of the federal government following a recent decision by the Bank of Nova Scotia to call in a $95-million loan to Curragh (TSE). After closing the mine…
INSIDER TRADING (June 15, 1992)
Jascan Resources (TSE) director William Felderhof recently sold a large block of company stock as part of an ongoing effort to sever previous connections with the 49% owned Faraday Resources (TSE) aff…
Silver demand outstrips supply
Demand for silver in 1991 outstripped supply for the second consecutive year, and forecasts for 1992 indicate further widening of this gap, reports The Silver Institute of Washington, D.C., in its Wor…
San Andreas acquiring Hunt mine
Over a decade ago, silver speculators Nelson and William Hunt of Texas spent over $64 million to build a mine at Prairie Creek, a high-grade zinc-lead-silver-copper deposit about 300 miles west of Yel…
Golden West ground expanded
Additional mining claims adjoining the Golden West property in La Paz Cty. were recently acquired by HRC Development, expanding the private group’s holdings in this region of Arizona. The ground will …
Experts’ evaluation key factor in assessing Lac de Gras play
Investors speculating on the Lac de Gras diamond play have been placed on tenterhooks again while experts assess the value of gems recovered from a kimberlite pipe underneath Point Lake, 200 miles nor…