Cheni negotiates debt conversion (May 25, 1992)
To clean up its balance sheet, Cheni Gold Mines (TSE) recently reached an agreement with its major creditors for a conversion of most of its outstanding debt to equity. The company’s parent, Cheni S.A…
News
Struggling Northgate names new chairman, president (May 25, 1992)
Toronto-based Northgate Exploration (TSE) named a new chairman and president at its annual meeting and appointed an honorary chairman. John Kearney has moved to the chairman’s seat from the presidency…
Canmine’s challenge for Westray fund (May 25, 1992)
Mining and exploration companies are being challenged by Canmine Resources to match a $100 donation by the junior to the Westray Mine Disaster Fund. “Profits and incomes derived from the business of m…
Sudbury wins environment award (May 25, 1992)
The municipality of Sudbury, Ont., is recognized for its efforts in reversing some of the environmental damage caused by more than a century of nickel mining, logging and natural erosion. Along with 2…
Vietnam attracts Canadian miners (May 25, 1992)
A Canadian mining delegation will be heading off to northern Vietnam this fall to investigate investment opportunities and learn more about the country’s mineral potential, mining industry and new min…
Pioneer taking another look at Puffy Lake (May 25, 1992)
With a debt settlement and restructuring now behind it, Pioneer Metals (TSE) is reviewing the potential of reopening its 100% owned Puffy Lake gold mine in Manitoba. The company recently hired Kilborn…
Noranda in deal with Chinese (May 25, 1992)
A unit of Noranda (TSE), Noranda Copper Smelting and Refining, recently reached an agreement with a Chinese agency involving the sale and transfer of reactor technology. The Noranda reactor is a conti…
Golden Star in Suriname deal (May 25, 1992)
A formal exploration and development agreement for the Gross Rosebel gold property in Suriname has been signed between Golden Star Resources (TSE) and Grassalco, the state-owned aluminum mining compan…
NEWS IN BRIEF (May 25, 1992)
Beretta Resource Corp. (BTR:VSE) has changed its name to Optimark Data Systems Inc. with a consolidation of capital on a 1-new-for-1-old-share basis. The transfer agent is Montreal Trust.
Thermal farms out claims in diamond play to Kennecott (May 25, 1992)
Thermal Exploration (ASE) has reached an agreement with a syndicate led by geologists Terry Heard and Mike Duggan to acquire a 70% interest in 97,000 acres near the Lac de Gras, N.W.T., diamond discov…
MINER DETAILS; Hole 109 and the Pezim case (May 25, 1992)
Exploration is risky business. Take Calpine Resources’ famous hole 109 drilled in 1989 at Eskay Creek. International Corona later did more drilling to test this target located separate from and in a l…
Drilling continues at Bellas Gate (May 25, 1992)
The share price of Golden Ring Resources (VSE) came under downward pressure after the company released results from recent drilling on the Camel Hill deposit at the Bellas Gate copper-gold property in…