Noranda chopping exploration funds
The mineral exploration arm of Noranda (TSE), Noranda Exploration, plans to reduce its exploration personnel and reduce spending by about one-quarter in 1992. The total exploration budget of Noranda E…
News
Base metals the key as Yukon exploration spending rises 33%
Mineral exploration spending in the territory rose to $16 million this year from $12 million in 1990. Dennis Ouellette, a geologist with the Whitehorse office of the federal Department of Northern Aff…
Great Lakes’ rights offering
Toronto-based junior Great Lakes Minerals (TSE) recently raised $554,220 from a rights offering designed to finance royalty payments at its Keweenaw copper project in northern Michigan. Great Lakes sa…
Total bids for all Energold shares
Total Resources, the parent company of Total Energold (TSE), recently launched a bid to acquire all the shares it does not already own for $1.55 per share. Total Resources, which in turn is a wholly o…
Placer Dome options claims from Mineta
A recent option and joint venture agreement allows Placer Dome (TSE) to earn up to a 70% interest in a land package covering about 7,900 acres located 60 miles north of Kamloops, B.C. The property is …
McFinley and contractor in co-operative spirit
McFinley Red Lake Gold Mines (TSE) and contractor Dominion Bridge have agreed to shelve litigation over a Red Lake, Ont., gold project while they look for a joint venture partner willing to develop th…
INSIDER TRADING (December 23, 1991)
Pierre Gauthier, chairman of 52% owned Noranda (TSE) subsidiary Societe Miniere Louvem (TSE), recently profited by exercising stock options at a discount to the recent market price. According to the O…
Morrison deal
Morrison Minerals (TSE) reports the completion of the sale of its shares in Aerodat Ltd. to Geonex Ltd. for cash, dividends and shares in Geonex. (Aggregate value of the deal is about $3.75 million.) …
FINANCING (December 23, 1991)
Minerva Gold Mines Ltd – 1,000,000 shs offered @ 50 cents per sh. September Resources Ltd – 625,000 shs offered @ 37.5 cents per sh. Canadian Imperial Mines Inc – 600,000 shs offered @ 40 cents per sh…
FUTURES PRICES (December 23, 1991)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Dec 98.40 97.60 98.15 + 0.80 Jan 98.10 97.35 98.00 + 1.00 Feb 97.75 97.75 98.90 + 2.00 SILVER (in US cents per oz…
NEWS IN BRIEF (December 23, 1991)
Pan Oceanic Ventures Inc. (PSV:VSE) has changed its name to Falcon Ventures International Corp. (FNV:VSE) with a consolidation of capital on a 1-new-for-8-old-share basis. The transfer agent is Pacifi…
PEOPLE (December 23, 1991)
Bevan Anderson appointed vice-president, corporate affairs; Raymond Mongeau and A. Reid appointed directors.