Kennecott extends zone on Lockwood property
Situated near Everett, Wash., the Lockwood property is owned 65% by Island-Arc Resources (VSE) and 35% by Formosa Resources (VSE). The two juniors financed early work on the property which led to Isla…
News
Drilling may expand Samatosum mine
Additional drilling on the Gold zone at the Samatosum mine near Adams Lake, B.C., indicates that the life of the mine will be extended. The Samatosum, with current reserves good until October, 1992, i…
Arimetco gets copper values above Ann Mason deposit
Copper oxide specialist Arimetco International (TSE) recently obtained some encouraging results from drilling at a huge copper deposit located three miles from its Yerington mine in Nevada. The revers…
NEWS IN BRIEF (October 21, 1991)
Glenvet Resources Ltd. (GVT:VSE) has changed its name to Fort Point Resources Ltd. (FTP:VSE) with a consolidation of capital on a 1-new-for-3-old-share basis. The transfer agent is Montreal Trust.
Merge of Rio not on Uranium agenda
The proposed merger of Rio Algom (TSE) and in situ leaching specialist Uranium Resources (TSE) will not be discussed at Uranium’s Nov. 7 annual meeting in Dallas. The Texas company has twice postponed…
Spot prices at a glance (October 21, 1991)
Week’s Price (US) Change Gold* $356.40 – $1.20 Silver* $ 4.05 – $0.03 Platinum* $365.75 + $9.00 Nickel** $ 3.35 – $0.07 Lead** $ 0.23 – 0.01 Copper $ 1.07 – 0.01 Zinc $ 0.44 – 0.01 Courtesy of Scotiab…
Companies face criminal charges
Criminal charges have been laid against Royal Oak Mines (TSE) (and its predecessor, Pamour Inc.) by the Ontario Ministry of the Environment in connection with the Oct. 17, 1990, tailings spill at the …
NEWS ROUNDUP (October 21, 1991)
Because of recent changes in management and the threat of another mail strike, Toronto-based Madeleine Mines (TSE) has postponed its annual meeting until further notice. The annual meeting was schedul…
Platinum cube
It has been estimated that if all of the platinum ever mined in the world was formed into a cube, the cube would measure about 15×15 ft. on each side. South Africa and the Soviet Union supply most of …
Financing progress for Parys
Raising money for new mine projects is no easy task for junior companies these days, which explains the slow but steady progress being made by Imperial Metals (TSE) to arrange financing for the Parys …
McKee takes on some risk of cost overruns at Refugio
Vancouver-based junior Bema Gold (TSE) has taken advantage of the competition between engineering firms to narrow the risk of building its 50% owned Refugio gold project in Chile, says Chairman Clive …
The facade of Soviet mining
Editor’s note: The president of Toronto-based Franco-Nevada Mining Corp., Pierre Lassonde, wrote about his summer trip to the Soviet Union, extractions of which follow. On Aug. 1, 1991, I left New Yor…