Falco Gold closes asset purchase
In exchange for a debt-equity package worth about $11 million, Falconbridge Gold (TSE) has acquired its parent’s African gold assets and has an option to purchase all of Falconbridge’s gold properties…
News
Drilling starts at Copper Canyon
Before starting follow-up drilling on the Copper Canyon project in northwestern British Columbia, Consolidated Rhodes Resources (VSE) will conduct a $100,000 program of trenching, mapping and addition…
Lower grades slow Inco’s earnings
An 85% drop in second-quarter earnings for nickel giant Inco (TSE) reflects predictions the company made at an analysts’ meeting last November. “They warned us,” says Richardson Greenshield’s Ray Gold…
Arimathaea buys 15% stake in Australian holding company
Toronto-based Arimathaea Resources (TSE) has acquired a 14.74% stake in Mid-East Minerals Ltd. of Western Australia and can increase its interest to 19.9% if the Australian Foreign Investment Review B…
OSC suspends trading privileges
GR Capital and its president, Glen Harper, have had their trading privileges suspended as part of a settlement agreement after allegedly violating certain takeover bid provisions of the Ontario Securi…
INSIDER TRADING (July 29, 1991)
Nell Dragovan, the woman who helped to secure International Corona’s (TSE) position in the Hemlo, Ont., gold camp, was recently an active seller of Prime Equities (VSE) shares. A director of a number …
200,000-oz. gold producer born by Royal Oak amalgamation
Canada has a new intermediate gold producer. Royal Oak Mines (TSE) is a 200,000-oz.-per-year gold company formed from the recent amalgamation of Royal Oak Resources and four companies in the Pamour gr…
Holcorp issues special warrants
Holcorp Gold Mines (CDN) has raised proceeds of US$480,750 through a recent issue of 640,999 special warrants. Each special warrant entitles the holder to acquire, at no extra cost, one common share a…
Drilling starts at Polaris-Taku
Drilling is now under way at the Polaris-Taku gold property, about 65 miles south of Atlin, B.C. Suntac Minerals (VSE) is earning a 60% interest in the property from Rembrandt Gold Mines (ASE). To dat…
Tests inconclusive at Trail smelter
Revisions to the problem-plagued QSL lead smelter at Trail, B.C., will remain on hold while test work continues aimed at resolving major process and mechanical difficulties which forced a shutdown of …
Financing (July 29, 1991)
Omax Resources Ltd. – 500,000 shs offered @ 50 cents per sh. Tombstone Explorations Co. Ltd. – 800,000 units consisting of 1 sh and 2 series “A” purch wts offered @ 45 cents per unit Jordex Resources …
Vendors, operators battle over NPI royalties
The confusion surrounding net profits royalties (NPIs) and their definition is resurfacing once again, this time in the form of a dispute between American Barrick Resources (TSE) and part-time prospec…