Editorial The crash that wasn’t
The Toronto Stock Exchange’s main indicator, the TSE 300, dropped 142 points or 3.5 % on Friday the Thirteenth, but to hear brokers and market regulators talk, it was a non-event. The Dow Jones index,…
News
News in Brief (October 23, 1989)
Ontario Geological Survey, regional geological staff, Ontario geoscience research grant recipients and guest speakers will give presentations at the Ontario mines and minerals symposium Dec 11-13 at t…
RFC raises $5 million for Orielle feasibility study
A $5-million financing has been completed by RFC Resource Finance Corp. (TSE). The cash was raised from the sale of 2.6 million special warrants by Bunting Warburg. Each special warrant was sold at $2…
Mining issues suffer during market debacle
The typhoon lashing the financial markets is making sure the metals sector is not ignored. Although metals prices have remained essentially unchanged following the Friday the 13th debacle in New York …
Montreal Exchange Black Friday scare
Fears of a repeat of Black Monday two years ago failed to materialize during the week, although this year’s Black Friday version threw a scare into the investment community. A 4.8% drop in the mining …
Market collapse short lived on Montreal;s stock exchange
One of the main differences between the October market collapses of 1987 and 1989 has to be the recovery time. Investors this time around seemed to bat hardly an eyelash before diving in again during …
Marcee planning to drill property in central Nfld
Macree Resources (COATS) has received a letter of intent from Yorkton Securities of Toronto for a $500,000 common share underwriting. Proceeds of the offering will be partially used for general corpor…
Newfoundland review, CIM coincide
The Newfoundland Department of Mines and Energy’s thirteenth annual open house and review of activities begins Nov 2, 1989, at the Radisson Plaza Hotel in St. John’s, Nfld. Once again, the department’…
Glimmer benefits from drill results near Matheson
A significant gold discovery has been made by Noranda Inc. (TSE) on property held under option from Glimmer Resources (VSE). The 14-claim property is in Beatty and Hislop twps., about 45 miles east of…
Golden Point reports Wawa project results
A $300,000 exploration program has been recommended to follow up a gold-bearing quartz vein system on Golden Point Exploration’s (ASE) McMurray Twp., property near Wawa, Ont. The 41-claim property is …
Northgate ups stake in Geddes Resources
Toronto-based Northgate Exploration (TSE) has emerged with a larger stake in Geddes Resources (TSE). By purchasing 1.85 million Geddes shares through a private placement, Northgate has increased its s…
France unveils Olympic coins
The first gold and silver coins of the French Olympic Coin program were recently unveiled in Toronto. Sales of the coins will help fund the 1992 Winter Olympic Games set for Albertville, France. The O…