News in Brief (September 11, 1989)
Blackdome Mining has merged into MinVen Gold Corp. (MVG: TSE, VSE) each on a share-for- share basis. Blackdome shareholders have received payment of a special dividend of 42.5 cents per share.
News
Granges boosts gold production in first half
Consolidated gold production for Granges Inc. (TSE) rose to 47,351 oz in the first half of 1989 from 25,687 oz in the comparable pe riod last year. The company reported consolidated gold production of…
METAL PRICES PRODUCER PRICES (September 11, 1989)
ALUMINUM: MW U.S. Market US82.00 cents – 84.00 cents per lb. (Aug 24, 1989). ANTIMONY: New York dealer US90 cents -95 cents per lb. (Aug 10, 1989). BISMUTH: New York dealer $4.70-$4.85(US) per lb. (A…
Mining Corp. closing doors
Citing a lack of opportunities in the mining construction business, Mining Corp. of Canada says it will wind up its business activities by the end of 1989. The wholly-owned subsidiary of Noranda Mine…
McNickle dives
Poor drill results from the Lac St. Jean nickel prospect owned by McNickel Inc. resulted in a sell-off. The issue tumbled to $1.50-$1.75 on active trading today. Results from a series of drill holes, …
Northgate emerges with 50% stake in Neptune gold bet
Toronto-based Northgate Exploration (TSE) has emerged with a bigger stake in Neptune Resources’ (TSE) Colomac gold project after exercising its opti on to acqu ire a 30% interest in the project for $2…
Reed seeks funding
An equity financing is being sought by Reed Lake Exploration (ASE). If completed, the cash raised would fund a follow-up exploration program o n Reed’s Holdswo rth gold property near Hawk Junction, On…
Spot prices at a glance (September 11, 1989)
Week’s Price (US) Change Gold* $360.00 –$ 1.20 Silver* $ 5.09 –$ 0.04 Platinum* $475.75 –$ 1.35 Nickel** $ 5.31 –$ 0.41 Lead** $ 0.32 –…
Calpine bids to avoid errors in Eskay Creek assay results
Partners Calpine Resources (VSE) and Consolidated Stikine Silver (VSE) are using an assaying technique they hope will avoid any innaccuracies in t he results r eleased from the Eskay Creek property in…
Corona sells Bond holding
North American gold producer Corona Corp. (TSE) has decided not to pursue an investment strategy to gain control of Bond International Gold (TSE). Corona says it has exercised its right to sell its 7%…
McNickel cuts low grade nickel
A series of assays from a drill program being completed by McNickel Inc (coats) has yielded lower than expected values in nickel and copper. Investors in the issue scurried to sell which resulted in M…
Amax Gold to explore Villeneuve prospect
Vancouver-based Villeneuve Resources (VSE) has leased its 117- claim group in central Nevada to Amax Gold (TSE). The property lies immediately north of Amax’s low- cost Sleeper gold mine. The agreemen…