NEWS IN BRIEF (December 09, 1991)
Comstate Resources (TSE) announced it is negotiating private placements totalling about 1.4 million units at 45 cents per unit to purchasers in British Columbia, Alberta and Saskatchewan. Gross procee…
News
Teddy Bear ousts chairman to attract Canadian investors
Shaken by a lawsuit and recent inquiries from the Ontario Securities Commission (OSC), Teddy Bear Valley Mines (CDN) has replaced long-time chairman Ross Hofmann with Jack Riddell, a director of the c…
Inco furnace fails
The furnace at Inco’s (TSE) Port Colborne refinery has failed and will be out of service until the end of the year. Normally, the refinery would produce about six million pounds of utility nickel per …
Vancouver Stock Exchange (December 09, 1991)
Both the resource and composite indices finished the week ended Dec. 3 higher. The resource index added more than eight points to close at 516.99, while the composite index finished at 566.35 for a ga…
FUTURES PRICES (December 09, 1991)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Dec 101.75 100.70 101.60 – 3.05 Jan 101.30 100.30 101.30 – 2.95 Feb 100.75 100.35 100.80 – 2.90 SILVER (in US cen…
PDAC Perspectives (December 09, 1991)
The House of Commons in Ottawa is slowly working its way through the process of enacting Bill C-13, the Act to establish a federal environmental assessment process to replace the existing guidelines. …
Big Creek to acquire option in Casino Silver prospect
Archer, Cathro & Associates (ACA) recently agreed to assign Big Creek Resources (VSE) its option to earn a 50% interest in the Casino property owned by Casino Silver Mines (VSE). The property, in the …
Minnova’s future lies in Northwest Territories
Awash with cash but short of ore reserves, Toronto-based Minnova (TSE) has agreed in principle to buy Falconbridge’s interests in three Northwest Territories copper-zinc properties for US$20 million. …
Crown Jewel deposit outlined
The recent stepout drilling program on the Crown Jewel property in northeastern Washington state has essentially outlined the limits of the deposit, and a new reserve estimate is currently being calcu…
Joe Mann output increases, shaft to be deepened 700 ft.
The Joe Mann mine of Campbell Resources (TSE), southwest of Chibougamau, Que., produced 64,100 oz. gold and 1.1 million lb. copper during the first nine months of 1991, the company reports. For the sa…
Queenston, Noront in Shining Tree
Queenston Mining (TSE) and Noront Resources (VSE) have entered into a joint venture to acquire and explore a 31-unit property in Fawcett Twp., near Shining Tree, Ont. The property adjoins the eastern …
Great Western options War Eagle ground
Two properties owned by the Mexican subsidiary of War Eagle Mining (VSE) have been optioned by Great Western Gold (VSE). The ground adjoins War Eagle’s La Blanca property in Mexico. War Eagle’s share …