Inco retirement plan proves popular
An early retirement program, designed to reduce the workforce at Inco Ltd.’s (TSE) Sudbury, Ont., nickel operations and cut costs, has attracted an overwhelming response from eligible employees. Accor…
News
NEWS ROUNDUP (November 18, 1991)
An agreement has been entered into by Globex Mining Enterprises (ME) and Fairfield Explorations (ME) whereby Noranda Exploration, a unit of Noranda (TSE), may earn a 60% interest in their claim blocks…
Kingswood to buy out private firm
Kingswood Explorations (ASE) has offered to purchase all of the issued and outstanding shares of Fort Rupert Resources (a private company). Under the offer, which is subject to regulatory approval, ea…
Jonpol obtains Garrison funding
Toronto-based junior Jonpol Explorations (TSE) recently raised $150,000 for exploration on its Garrison Twp. joint venture with T&H Resources (TSE) by way of a private placement of 375,000 treasury sh…
TORONTO STOCK EXCHANGE INDICES (November 18, 1991)
Nov 12 Nov 11 Nov 8 Nov 7 Nov 6 High Low Composite “300” 3604.09 3579.30 3561.56 3546.70 3531.08 4009.47 3009.91 Metals & Minerals 3119.54 3077.99 3060.64 3036.52 3033.96 3453.06 2502.63 Intergrated M…
Rights offering for Great Lakes
In order to raise money for its copper project in Michigan, Great Lakes Minerals (TSE) is offering shareholders one right for every share held as of Nov. 19. With five rights and 50 cents, shareholder…
Bridger seeks damages from Teck
An action for damages was recently filed by Bridger Resources (VSE) against Teck (TSE) in the Supreme Court of British Columbia relating to the La Pepa gold mine project in Chile. Bridger held a 68% i…
Low costs at Golden Giant
The low-cost Golden Giant mine of Hemlo Gold Mines (TSE) on the north shore of Lake Superior continues to perform well. The company reports third-quarter gold output of 118,110 oz. (about the same as …
Royal Oak stakes at Shining Tree
Royal Oak Mines (TSE) has staked 123 claims in the Shining Tree area of northeastern Ontario following Fort Knox Gold Resources’ (TSE) discovery of ore-grade nickel and copper mineralization on its pr…
Claim transfers cheaper in Quebec
A change to Quebec’s Mining Act has made it less expensive for companies to transfer ownership of groups of mining claims in the province. Effective Oct. 3, transfer fees have been increased from $10 …
Royal Oak clears debt despite drop in gold production
Although Royal Oak Mines (TSE) isn’t producing as much gold as last year, the company’s new management team is reporting an improved financial performance for both the first nine months of 1991 and th…
Coins reducing silver stockpile
The silver stockpile of the U.S. defence department has been reduced by 41% through U.S. Mint coinage programs since the Mint began drawing from the stockpile in 1986, The Silver Institute of Washingt…