NEWS IN BRIEF (June 01, 1992)
Musto Explorations Ltd. (MUX:VSE) has changed its name to International Musto Explorations Ltd. (IMZ:VSE) with a consolidation of capital on a 1-new-for-20-old-share basis.
News
Westmin pares quarterly loss
Productivity improvements at the Myra Falls mine enabled Westmin Resources (TSE) to achieve its best quarterly results in seven quarters, a net loss of $3.23 million for the 1992 first quarter compare…
GOLD FUNDS (June 01, 1992)
BGR Central Net Value $7.92 $5.04 Price $6.13 $4.65 Discount 22.62% 7.70% Value $47,127,000 $78,232,995…
St. Philips share options lapse
An option to purchase 500,000 shares of St. Philips (VSE) at $3 per share recently lapsed after Rio Algom (TSE) declined to proceed with the purchase. The options were part of a larger option deal dat…
FINANCING (June 01, 1992)
Primo Gold Ltd – 750,000 shs offered @ 40 cents per sh. Mt. Grant Mines Ltd – 250,000 shs offered @ 25 cents per sh. Vananda Gold Ltd – 300,000 shs offered @ 75 cents per sh. Golden Ring Res. – 500,00…
Work planned on Orvana ground
Work commitments are in place for three British Columbia properties under option from Orvana Minerals (VSE). Placer Dome (TSE), which is earning a 70% interest in the Motherlode and Thimble Mountain p…
B.C. mining groups respond to commission
The Mining Association of British Columbia, the Coal Association of Canada, and the British Columbia & Yukon Chamber of Mines are all making submissions to a commission now examining methods to settle…
Menora options Mexican prospect
An option to earn a 50% interest in a gold property in the Mexican state of Zacatecas has been acquired by Menora Resources (ME). The junior, to act as operator, may earn its interest by spending US$1…
Watkins named president of RFC
A new president has taken over at RFC Resource Finance (TSE). David Watkins, president of Minnova (TSE), has been named to the top RFC position. RFC’s major shareholder is Kerr Addison Mines (TSE), wh…
Others’ Words (June 01, 1992)
Our industry is the target of many ill-informed groups that seldom reflect the views of local communities. However, we believe that our strong environmental performance, community involvement and educ…
Dickenson moves back into black
After a $47.9-million writedown in 1990, Dickenson Mines (TSE) regained its feet in 1991. Revenues generated from the Arthur W. White gold mine at Red Lake, Ont., Havelock Lime in New Brunswick and Sa…
Production boost at Aurora mine
The continued successful performance of the Aurora Partnership mine enabled operator and 50% owner Minerex Resources (TSE) to boost net earnings to $959,000 for the three months ended March 31, from $…