CORRECTION (October 30, 1989)
Underwriter Brault, Guy, O’Brien is the agent for a $6-million offering by Exploration Orex, not McNeil, Mantha as reported in N.M. Oct 23/89.
News
Pan East to earn 51% stake in Baker Lake uranium bet
Calgary-based Pan East Resources (ASE) recently optioned what it regards as a promising Northwest Territories uranium property from Falconbridge Ltd. (TSE) and Kerr Addison Mines (TSE). Situated 260 k…
New backer raises hopes for revival of Caribou zinc mine
A series of meetings involving officials from East West Caribou Mining and its new financial backers are expected to lead to a resumption of mining operations at the Caribou lead zinc mine in New Brun…
Guinness to start drills as Acadia deal completed
Having completed the purchase of a 60% stake in Guinness Gold Resources (ASE) from Acadia Mineral Ventures (TSE), a management team led by William Burton has approved a drilling program at a base meta…
Quebec investors in flow through get new break
Investors in flow-through shares in Quebec have been given a new break by the provincial government. Beginning this year, investors will not have to include flow-through tax benefits in the calculatio…
Goldcorp boosts stake in Wharf
Recently increasing its interest (direct and indirect) in Wharf Resources (TSE) to 43.4% was Goldcorp Investments, a Toronto- based gold fund company. Goldcorp reports purchasing 358,200 shares of Wha…
Aurizon drilling Connell property
A phase-one drilling program is under way on the Connell Corner property in the Val d’Or, Que., area, Aurizon Mines (TSE) reports. The property is within 1,350 m of the Aur/Louvem copper-zinc discover…
Shaft changeover helps to reduce Brunswick earnings
The changeover to a deepened shaft and a maintenance shutdown are among the reasons given by Brunswick Mining and Smelting (TSE) for reduced third-quarter net earnings. The Noranda affiliate recorded …
Claude busy at Seabee gold bet
An underground exploration program, which began earlier this month at Claude Resources’ (TSE) Seabee project in northern Saskatchewan, is scheduled to reach completion by year-end, the company reports…
Canarim agrees to buy unsold Prime units
The Vancouver Stock Exchange received confirmation that Canarim Investment will subscribe for and take down one million units of Prime Resources (VSE) that had been the subject of a recently disclosed…
News in Brief (October 30, 1989)
A NIM and Company limited partnership has committed for the flow-through private placement of $300,000 at 30 cents per share to Teeshin Resources (VSE). Funds will be used on the Dome Mountain projec…
Spot prices at a glance (October 30, 1989)
Week’s Price (US) Change Gold*$368.35+$ 0.25 Silver*$ 5.13+ Platinum*$482.80 –$ 4.20 Nickel**$ 4.68–$ 0.03 Lead**$ 0.35+ Copper$ 1.25 — 0.07 Zinc$ 0.69–$ 0.06 Courtesy of Scotiabank. Inform…