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…
News
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.
Platinum supply to outstrip demand
Supply of platinum in 1991 is expected to surpass demand by 210,000 oz., writes metals dealer Johnson Matthey in an interim review. Supplies may increase, because of increased Soviet sales, to 4.1 mil…
NEWS ROUNDUP (December 23, 1991)
Drilling is under way on the 67-unit Hurdman property, about 65 miles north of Timmins, Ont., says owner Noront Resources (VSE). The base metal prospect hosts several mineralized conductors and a half…