FINANCING (March 12, 1990)
Brightwork Res — 600,000 sold for gross $330,000. Krigold Res — 650,000 offered @ per unit. Gold Summit Mines — gross proceeds rec $280,000. Int’l Viking — 800,000 offered @ 60 cents per sh. Ameri…
News
Montreal Exchange Market gains
Trading activity related to resource issues turned positive for the week ended March 6, with the mining and mineral index gaining 93.5 points. The general market portfolio index also shone, closing wi…
Becker, Banting still busy after decades in business
At an age when most of their contemporaries are living off their pensions, Todson Becker, 80, and partner Howard Banting, 72, are still doing deals and making a living from the exploration business. F…
Newfields funding cancelled
A financing plan among Newfields Minerals (TSE), St. Genevieve Resources (TSE), and private investors, involving proceeds of $1.25 million for Newfields, has been cancelled. In addition, the 1- for-4-…
Intense exploration activity at Eskay Creek during 1989 provides
clearer picture of deposit…
Large tonnage gold deposit in Chile outlined by Cominco’s 1989
Completion of drilling at the Lobo project in Chile has outlined a deposit of 80 million tons grading 0.045 oz. of gold per ton, Vancouver-based Cominco Resources International (TSE) reports. The 1989…
Micron test plant enters production
A consortium of companies led by Micron Mining, a private American firm, has built a facility to test for gold recovery from the sandy material of a property in southern Nevada’s Moapa Valley. Gordon …
Audrey planning an offer for Asamera Min. assets
Polymetallic miner Audrey Resources (TSE), based in Rouyn- Noranda, Que., is hoping to pick up where Corona left off by making a takeover offer for the Canadian and U.S. mineral assets of Asamera Mine…
Toronto Stock Exchange Indices (March 12, 1990)
Mar. 6 Mar. 5 Mar. 2 Mar. 1 Feb. 28 HIGH LOW Composite “300” 3723.17 3711.97 3707.42 3700.15 3686.70 4009.47 3649.49 Metals & Minerals 3144.28 3151.15 3133.53 3094.08 3010.87 3453.05 2921.03 Integrate…
Gold production up at Malartic Hygrade
With mill construction at its Congress gold mine under way, Malartic Hygrade Gold Mines (VSE) is looking forward to becoming a much larger gold producer. In 1989, output from a number of Malartic’s Va…
Terra Mines to lose major asset
Future production at the Amelia mine in Mexico may be stalled due to financing difficulties reported by the mines’ major controller, Terra Mines (TSE). Payments required by the mineral rights purchase…
Equity earnings more than double
Increased sales volumes of gold and silver plus lower production costs more than doubled earnings for Vancouver-based Equity Silver Mines (TSE). Net earnings for the year ended Dec. 31 were $20.6 mill…