PEOPLE IGRF METALS
Paul Gold elected president and chief executive officer.
News
Copper price reflects trend in supply figures
Having surprised analysts with its resilience since the early stages of the recession, copper has finally reacted to the fundamentals of supply and demand. It fell through the US$1 threshold last mont…
Plexus refinances
A new loan facility totalling US$12.5 million was recently negotiated by Plexus Resources (TSE). Plexus will use the funds to repay an existing 17,100-oz. gold loan (US$7.2 million) as well as US$2….
Unlisted Trading Craibbe surges
The share price of Craibbe-Fletcher Gold Mines has surged above the 70-cent level as the company plans to resume underground exploration of its property that adjoins the Campbell mine at Red Lake, Ont…
Drill results from Myra Falls
Ongoing drilling by Westmin Resources (TSE) at its Myra Falls mine property returned two relatively narrow intersections of massive sulphide mineralization. The company is testing a new high-grade ma…
Paymaster gives encouraging results from drilling, drifting
The first drill core assays from an underground program at the Paymaster property near Timmins, Ont., suggest that the gold-rich 36 and 37 zones continue downdip. Testing extensions of the zones at a…
NEWS IN BRIEF Inspiration accepts Minorco offer
Inspiration Resources (TSE) has accepted Minorco’s recent $100-million offer to purchase from Inspiration all of the shares of Hudson Bay Mining & Smelting (TSE). If the deal goes through, it will ena…
Montreal Exchange Settlement at Faro
After a 10-week strike, Curragh Resources has reached an agreement with employees at the Faro lead-zinc mine in the Yukon. The deal calls for a 17.6% wage increase over three years as well as other pa…
U.S. REPORT Pegasus to drill Washington bet
Precious metal producer Pegasus Gold (TSE) will complete several thousand feet of drilling on Eagle Lake Explorations’ (ASE) Kelly Hill gold skarn property in Washington, following a joint venture agr…
Name change for La Sarre
Shareholders of Societe d’Exploration Miniere La Sarre (ME) recently voted in favor of a share consolidation and a name change. The company said its shares will be consolidated on the basis of one new…
Cochise crews on site at Eastmain
Exploration crews have moved on site at Cochise Resources (ASE) copper property in the Eastmain River area of northern Quebec. Cochise plans to spend $550,000 to map and sample a mineralized granodior…
Yorbeau raises new financing
First closing of a private placement raised $400,000 for Yorbeau Resources (TSE), the company reported. The deal was intended to raise a maximum of $500,000 through the sale of up to 500 units. Each u…