Aurizon acquires shares of Argosy
Vancouver-based Aurizon Mines (TSE) reported purchasing 247,500 shares of junior mining company Argosy Resources (VSE) for $99,000 (40 cents per share) in a private placement. Attached to each share i…
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LETTERS TO THE EDITOR (September 02, 1991)
Further to the article “Temagami claims’ status uncertain following court decision,” by Virginia Heffernan (T.N.M., Aug. 26/91), I would like to make the following points. — The Sudbury anomaly is 60…
PRODUCER PRICES (September 02, 1991)
ALUMINUM: MW U.S. market US57.50-58.25 cents per lb. (Aug. 15, 1991). ANTIMONY: New York dealer US82-84 cents per lb. (Aug. 8, 1991). BISMUTH: New York dealer US$3.15-3.25 per lb. (July 18, 1991). CAD…
Placer Dome options project in N.W.T. from Noble Peak
Vancouver gold miner Placer Dome (TSE) is poised to take a close look at Canada’s second largest Archean greenstone belt after optioning Noble Peak Resources’ (ASE) Southwin gold project in the Northw…
Inco to invest in African diamonds
Nickel producer Inco (TSE) will try its luck in the diamond business after signing an agreement with the government of Ghana. In a joint announcement with Lazare Kaplan International, a New York-based…
Northgate’s quarterly profit fails to offset 6-month loss
While gold production within the Northgate Exploration (TSE) group was up during the first six months of this year, the Toronto-based firm was forced to break out the red ink. Northgate reported a net…
Great Lakes concludes deal
An agreement providing Great Lakes Minerals (TSE) with a 100% interest in five copper deposits (543-S, G-2, G-12, G-13 and St. Louis) in northern Michigan has been concluded, the company reported. In …
Coup has little impact on metal prices
While the recent crisis in the Soviet Union sent shock waves around the world and briefly threatened to end the new spirit of perestroika, the episode had almost no effect on metal prices. As news rea…
Native hiring policies fall short of original goals
For some time now provincial governments and Ottawa have encouraged mining companies to adopt pro-native, pro-northern resident hiring practices. Companies, anxious to win support from local residents…
NEWS IN BRIEF (September 02, 1991)
Ojibway Resources Ltd. (OJB:ME) has changed its name to Consolidated Ojibway Resources Ltd. (COJ:ME) with a consolidation of capital on a 1-new-for-4-old share basis. The transfer agent is Central Gua…
Tantalus moving drill to test new zone at Treaty Creek
A drill rig is being moved to test the recent discovery of a new zone of base and precious mineralization on the Treaty Creek property in northwestern British Columbia. The prospecting discovery was m…
Spot prices at a glance (September 02, 1991)
Week’s Price (US) Change Gold* $355.30 – $ 0.90 Silver* $ 3.95 + $ 0.02 Platinum*$339.90 – $ 5.60 Nickel**$ 3.56 – $ 0.16 Lead** $ 0.24 $ 0.00 Copper $ 1.03 + $ 0.03 Zinc $ 0.46 – $ 0.01 Courtesy of S…