Correction (October 23, 1989)
Contrary to information printed in a story in The Northern Miner last week, Dumont Nickel (ME) has not entered into a share exchange transaction with Sabina Resources (VSE) and Redaurum Red Lake Mines…
News
Orex plans to mine Goldboro to prove its economic viability
Quebec-based Exploration Orex (ME) is about to develop a large sub-level retreat longhole stope in the upper reaches of the Goldboro deposit, The Northern Miner learned on a recent visit to the proper…
Free Seminar
Geostat Systems International offers a free seminar on “Microcomputer Orebody modelling” to be held in Toronto at the Royal Hotel Nov 23. For registration, contact Geostat Systems International, Claud…
Metal Prices FUTURES PRICES (October 23, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Oct129.50 129.10 129.30 — 1.85 Nov– — 128.80 — 1.00 Dec129.80 127.10 128.30 + 0…
Takeover costs reduce earnings of Falconbridge
Expenses related to the recent takeover of Falconbridge Ltd. (TSE) led the major nickel producer to reduce its third-quarter earnings by $37 million. Noranda Inc. (TSE) and Swedish firm Trelleborg AB …
Aur, Louvem dispute makes operator status unclear at Louvicourt
Aur Resources (TSE) President Jim Gill recently attempted to downplay the effects that a legal dispute with partner Societe Miniere Louvem (TSE) could have on future development of their massive sulph…
Mazarin funding
Two government grants totalling $500,000 have been received by Societe d’Exploration Miniere Mazarin (ME), which is developing a graphite property near Fermont, Que., near the Labrador border. The Que…
Piedmont offering raises $2.8 m(US)
Piedmont Mining of North Carolina says it has raised $2.8 million (US) for exploration purposes from a recently completed rights offering. Under the offering, 1.45 million shares were purchased by Pie…
Hemlo Gold ups stake in Windarra
A recent private placement agreement between Hemlo Gold Mines (TSE) and Windarra Minerals (TSE) will see Hemlo Gold’s stake in Windarra increase to 30.4%, up from the previous level of 20.22%. Hemlo G…
Tarzan Gold and Golden Dragon agreement
Tarzan Gold (ASE) and Golden Dragon Resources (VSE) have entered into an agreement with Total Energold (TSE) where Total Energold can earn a 70% interest in 147 claims in Collet Twp., Que., by spendin…
Millar earns profit in Glamis share sale
Chester Millar, chairman of Vancouver-based Glamis Gold (TSE), recently earned $16,610 by selling a portion of his considerable stake in the company. According to a recent Ontario Securities Commissio…
FINANCING (October 23, 1989)
ONTARIO Whisper Lake Res — final rec iss offer 2,250,000 @ 40 cents per sh to net $556,312.50 CopperQuest — final rec iss offer 1,500,000 @ 21 cents per sh to net $300,000 VANCOUVER Black Rock Ne…