News in Brief (April 03, 1989)
Lakeshore Minerals (ASE) has acquired a 33-claim gold property in Maricopa Cty., Ariz. Consideration paid for the claims was 100,000 common shares of Lakeshore. The property is subject to a 10% net pr…
News
Toronto Stock Exchange Firm U.S. buck and high rates keep traders
Another day of directionless trading took hold of the market as the composite index remained essentially unchanged at 3560.90 pts — up 0.15 pts. Volume was a lacklustre 19.29 million shares. High int…
KING OF ZINC
As base metals mines go, the No. 12 mine in Bathurst, N.B., is No. 1 in more ways than one. No mine in the world can top it in terms of zinc-in-concentrate produced each year (about 238,000 tonnes). A…
Teeshin, MacDonald plan to amalgamate
An agreement in principle has been reached between Teeshin Resources (VSE) and MacDonald Mines Exploration (COATS) regarding a proposed amalgamation of the two companies. The directors of both firms h…
Alberta Stock Exchange Guinness rises
While the name is certainly eyecatching, there is apparently no connection between Toronto-based Guinness Gold Resources and the well known Irish brewer. Nevertheless, an attempt by Guinness Gold to c…
People (April 03, 1989)
PIERCE MOUNTAIN RESOURCES — G. Krueckl has resigned from the board of directors.
FINANCING (April 03, 1989)
VANCOUVER Digger Res Inc — 600,000 sold for gross $270,000. TSA Expls Ltd — gross proceeds rec $500,000. Agristar Inc — 4,000,000 offered @ $1.497 per sh. Int’l Brace Res — 600,000 shs offered @ 4…
Citadel financing
Citadel Gold Mines (TSE) has received approval from The Toronto Stock Exchange allowing the company to proceed with a private placement of first preferred shares valued at $5.5 million. The shares are…
Orenda Gold no longer exists
I recently inherited 100 shares of Orenada Gold Mines purchased in 1945, and I would like to know if these shares have any current value. If they are of value, how can I redeem them? R.M., Leamington,…
Cameco earns $52 million
Cameco — A Canadian Mining and Energy Corp. realized earnings of $52.8 million on sales of $236.5 million in 1988. The company, which was formed from the merger of Eldorado Nuclear and the Saskatchew…
Granges increases stake in Trout Lake mine
With a major development program to increase reserves and facilitate exploration at depth nearing completion, Granges Exploration (TSE) has moved to increase its stake in the Trout Lake mine located n…
Queries orenda Gold no longer exists
I recently inherited 100 shares of Orenada Gold Mines purchased back in 1945. I would like to know if these shares have any current value, and if so, where I can redeem them. R.M., Leamington, Ont. We…