Montreal Exchange Juniors may merge
A proposed takeover bid (at $1.50 per share) of a junior by Quebec gold producer Cambior Inc provoked a response by the junior, but it wasn’t perhaps what Cambior was expecting. The junior, Nova-Coges…
News
Kenora Prospectors reports encouraging drill results
COATS-listed Kenora Prospectors and Miners has reported more encouraging values from follow-up drilling on the Shoal Lake gold property located 40 miles west of Kenora, Ont. One of the target zones of…
Reduced earnings for Malartic Hygrade
Net income of $543,363 (14 per share) on revenue of $5.7 million was recorded by Malartic Hygrade Gold Mines (Canada) (VSE) during the first nine months of 1988, compared with $3.3 million (91 per sh…
Minnova examining Chu Chua for possible copper production
The Chu Chua massive sulphide deposit near Kamloops, B.C., is being evaluated by Minnova Inc. (TSE) for potential open pittable, high grade copper ore that might supply additional feed to the Samatosu…
Hemlo’s ’88 output nears 900,000 oz
Relatively low production costs continue to be the order of the day at the Hemlo gold camp in northern Ontario, where production from the three gold mines operating there is expected to total about 90…
Dolphin encouraged by Cape Ray results
Recently winding up its 1988 exploration program at its Cape Ray gold project in southwestern Newfoundland because of climatic conditions was Dolphin Explorations (TSE). About 56,700 ft of core sample…
Pegasus plans shareholder protection
The novel shareholder protection rights program adopted by Pegasus Gold Corp. (TSE) is designed to prevent “creeping takeovers and other coercive acquisition tactics,” the company says. The plan has b…
Higher base metals prices boost Westmin earnings
Higher base metal prices brightened the financial picture considerably for Westmin Resources (TSE) during the first nine months of 1988. The company reported net earnings of $16,066,000 or 9 per commo…
FINANCING (December 12, 1988)
ONTARIO Augmitto Expls. — final rec iss offer min 750,000 & max 2,000,000 @ $4 per Cl A spec sh to net min $2,760,000 & max $7,360,000. Dynalta Egy — final rec iss offer min 3,000 & max 10,000 @ $1,…
J.A.G. pondering on-site test mill
Encouraging results have been received by J.A.G. Mines (ME) from underground sampling of the Aubelle vein at the Belleterre property in northwestern Quebec. Average grade of the assays of 10 bulk samp…
Crown Resource Corp acquires Carlin bet
Crown Resource Corp. (NASDAQ) has optioned a 34,000-acre exploration property in the southern portion of the Carlin trend in Elko Cty., Nev. The property, which lies about six miles southeast of Newmo…
Joly’s output exceeds early expectations
Operating results from the Jolu gold mine during November have exceeded original expectations. Operated by Corona Corp. (TSE), the mine north of La Ronge, Sask., produced 5,266 oz of gold from ore gra…