NEWS IN BRIEF United Coin Mines
Toronto-based United Coin Mines (TSE) recently borrowed $3.2 million from investment banker DCC Equities for a term of one year. The loan bears interest at prime plus 2%. Incidental to the loan, DCC r…
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PEOPLE Guilderand Mining
W. Kerby appointed president succeeding D. Schindelhauer who resigned; S. Robertson appointed director succeeding M. Fraser who resigned.
Ontario’s new Mining Act takes effect June 3
Ontario’s new mining act will come into force on June 3, says Mines Minister Gilles Pouliot. The new act will contain revised regulations on claim staking and recording, assessment requirements and mi…
Losses mount for Skyline Gold
A net loss of $1.36 million was reported by Skyline Gold (TSE) for the three months ended Jan. 31, up from the corresponding year-earlier loss of $1.25 million. The quarterly data included operations …
Rio taking control of South Kemess project
An agreement has been reached between St. Philips Resources (VSE) and Rio Algom (TSE). It gives Rio the option to purchase up to 3.8 million treasury shares of St. Philips plus 1.2 million shares (exi…
Galico options Cominco claims
A program of diamond drilling and geophysical surveying is being planned by Galico Resources (VSE) for the Metla property 15 miles northwest of the Golden Bear gold mine in northwestern British Columb…
Toronto Stock Exchange Inco reaches high as investors bet on
The upward trend in share prices continued during the week ended April 2 as interest rates dropped to 10.75% and investors placed their bets on an early end to the economic recession. While Januarys 1…
Vancouver Stock Exchange Thios, Eurus intersect new zone
The week ended April 2 proved relatively quiet with the VSE composite index adding about 10 points to finish at the 580 level. The resource index slipped 3.4 points to close at 574.24. Gold remained l…
QPX backs Rea Gold offer
The board of directors of QPX Minerals (TSE) is recommending shareholders accept a recent offer by Rea Gold (TSE) to purchase any and all outstanding QPX shares. Rea Gold offered one Rea Gold common s…
Placer explores Skyline’s porphyry
Decades before Skyline Gold (TSE) starting mining gold at Johnny Mountain, the Iskut River region of northwestern British Columbia was intermittently examined by various mining companies interested in…
Rules unclear mining lawyers say
As concern for the environment increases, mining companies are becoming increasingly uncertain as to what they are required to do before they can obtain mining permits, the Prospectors and Developers …
NEWS IN BRIEF Interantional Azora Minerals Inc.
International Azora Minerals Inc. (IAZ:VSE) has changed its name to Power Battery Holdingss Corp. with no consolidation of capital. The new company will have no further interest in mining.