Gaspesie raises working funds
The sale of one million treasury shares of Gaspesie, Societe d’Explorations Petroliere et Miniere (ME) at 25 cents per share raised $250,000, which the company says will be used mainly for the develop…
News
Vancouver Stock Exchange (January 13, 1992)
The VSE’s resource index staged a sharp rebound heading into 1992, gaining 38 points to finish the period ended Jan. 7 at 492.85. The composite index followed with a more modest increase of 7.56 point…
Carlin reviews merger proposal
The board of Carlin Resources (VSE) is reviewing an offer to merge with an undisclosed public company trading on the Vancouver Stock Exchange. Carlin management believes the party is making the propos…
Toronto Stock Exchange (January 13, 1992)
The recent trend toward lower interest rates sent New York’s Dow Jones Industrial Average of blue chip stocks to record heights during the week ended Jan. 7 as investors jockeyed to get in on the rall…
Platinova samples zinc-rich gossan
Chip samples taken from a gossan (oxidized, sulphur-rich rock) in West Greenland have returned up to 43.5% zinc for joint venture partners Platinova Resources (TSE) and RTZ Exploration, a unit of RTZ …
Stepout hole hits new zone, boosts Fort Knox potential
A new zone intersected at Fort Knox Gold Resources’ (TSE) base metal prospect in Fawcett Twp., near Shining Tree, Ont., has enhanced the property’s potential to host significant volcanogenic massive s…
Bema to float convertible deb
Subject to regulatory approval, Yorkton Securities has agreed to complete a brokered private placement of up to $9 million in convertible debentures for Bema Gold (TSE). The debentures pay 8% and are …
NEWS ROUNDUP (January 06, 1992)
A production record was set by Minerex Resources (TSE) for the quarter ended Nov. 30. The company reports third-quarter gold production of 12,770 oz. from its 50% owned Aurora Partnership mine near Ha…
American Chromium to merge with Courageous
Subject to regulatory approvals, American Chromium (ASE) and Courageous Exploration (ASE) will amalgamate on Jan. 1, 1992. Shareholders of both companies approved the merger to form Rhonda Mining at s…
Spot prices at a glance (January 06, 1992)
Week’s Price (US) Change Gold* $353.40 – $ 6.00 Silver* $ 3.86 – $0.04 Platinum*$334.20 – $5.65 Nickel**$ 3.25 $0.00 Lead** $ 0.24 – $0.01 Copper $ 0.98 $0.00 Zinc $ 0.53 $0.00 Courtesy of Scotiabank….
SB shows that small mines can make a profit
The SB gold mining venture was small and short-lived, but it was profitable and an operating success for 50-50 partners, Westmin Resources (TSE) and Tenajon Resources (VSE). “We’re pleased that everyt…
Teddy Bear syndicate may regain equity lost in 1984 consolidation
Teddy Bear Valley Mines (CDN) is hoping to reverse a 1984 share reorganization which concentrated ownership of the company in the hands of just a few investors. Recently, Teddy Bear’s board of directo…