Pegasus merger deal with USMX collapses
Merger negotiations have been terminated between Pegasus Gold (TSE) and USMX Inc. (NASDAQ). The decision to terminate was made by the latter which cited “new developments . . . the potential ramificat…
News
TerraGold to explore Newfoundland claims
Following the completion of a preliminary prospectus, a new company called TerraGold Resources is gearing up to explore five mineral properties in Newfoundland and another in New Brunswick. TerraGold,…
Diana Resources
Diana Resources (VSE) announces a 7,000 ft drill program which will begin shortly on its 82 claim Obatogamau gold property in the Chibougamau area of Quebec. Two surface gold showings will be tested, …
North American, Dundee buy Kennco’s Vszza Twp. interests
The joint-venture team of North American Rare Metals (ME) and Dundee-Palliser Resources (TSE) has now finalized an agreement with Kennco Explorations to purchase all of that firm’s rights and interest…
Umex ponders its options
With nickel and copper prices continuing strong, Umex Inc. has been quietly re-examining the potential of its shutdown Thierry mine at Pickle Lake, Ont. Umex closed the low grade copper-nickel produce…
Mineral output up in New Brunswick
New Brunswick experienced a marked increase in the value of minerals produced in 1988 over 1987 values. Natural Resources and Energy Minister Morris Green has released preliminary figures which show t…
Moneta pulls good hole in Michaud Twp
The first hole in a winter drill program at Moneta Porcupine Mines’ (TSE) Michaud Twp. property 70 miles east of Timmins, Ont., has intersected 0.47 oz gold per ton over a core length of 12.1 ft. The …
Managing resource conflicts in a gold mining paradise
Nevada had a long history of mining booms and mining busts when gold in commercial quantities was discovered in the Carlin Trend. By the latter half of the 1980s, what was happening in Nevada was reco…
Glimmer hopes for success on Hislop and Barnet bets
Like many junior explorers, Toronto-based Glimmer Resources (TSE) is attempting to survive in the current market climate by vending out the properties in its portfolio to larger companies. “We look fo…
Editorial Confidence in uranium
Unexpected but welcome rumblings in the uranium industry. First, Denison Mines announces plans to shed its oil and gas holdings and commit to uranium as its core business. Uranium was the mineral up…
Uranium Resources aims to boost output
Despite the decline in uranium prices during the past year, Uranium Resources (VSE) posted record earnings for both its fourth quarter and fiscal 1988. The Dallas-based company produces uranium in Sou…
Goldquest-Chevron deal
Toronto-based junior Goldquest Exploration (TSE) has signed a letter of intent with Chevron Minerals whereby the latter may earn a 50% interest in certain properties belonging to Goldquest in the Red …