Bullish outlook for base-metal producers
Base metal prices may slip back next year from their 1988 highs if economic growth slows but they will likely remain significantly above their early-1980s lows for the period 1989-1993, London-based M…
News
Investment Comment Inco’s recap plans make it a buy
With a resounding 72% of shareholders approving Inco Ltd.’s controversial recapitalization plan, investors continue to support the company’s share price around the $39 mark. The recapitalization plan,…
La Fosse drilling underground at old Louvicourt mine
Earning a 10% interest in property 10 miles east of Val d’Or, Que., by carrying out underground exploration work is La Fosse Platinum (TSE). Owner of the property is COATS-listed Louvicourt Gold Mines…
INSIDER TRADES (December 19, 1988)
Dolphin — P. Brown bought 33,200 (Oct) @ $1-1.05 to hold 88,800. Laverty Red Lake — T. Gillett sold 210,000 (May) @ 72.5 to hold nil. Muscocho — Echo Bay bought 47,000 (Nov) @ $4 to hold 8,846,29…
News in Brief (December 19, 1988)
Unicorn Resources has changed its name to Pacific Unicorn Resources (PUC:VSE) on a 1-new-for-5-old share basis.
Inco Gold ups investment in High River
Following the merger of High River Resources (VSE) and Nor- Acme Gold Mines (TSE), Inco Gold will be entitled to own up to 40.1% of the new company. Inco Gold’s is a wholly-owned subsidiary of Inco Lt…
Northgate ups stake in Audrey Resources
Toronto-based Northgate Exploration (TSE) has increased its stake in Audrey Resources (TSE) from 20% to 28% by acquiring a block of 850,000 common shares from NIM and Co. Ltd. and CMP Resources Partne…
TSE stymies Pegasus poison pill program
The Toronto Stock Exchange has thrown cold water on a plan by Pegasus Gold Inc. (TSE) to protect itself from any unwelcome takeover attempt (N.M., Dec 12/88). The TSE has told Pegasus that its “poison…
Regulatory body gives nod to Midas
Notice of a plan by Midas Minerals (TSE) to acquire up to a 60% interest in the Tisdale gold project at Timmins, Ont., from Total Energold (TSE) and Davidson Tisdale Mines (TSE) has been accepted by t…
Province launches database series
The first of six new computer databases being developed by the Ministry of Northern Development and Mines’ Geoscience Data Centre is now available, Ontario Mines Minister Sean Conway announced recentl…
Finor drilling
More promising results have been reported by Finor Exploration (ME) from the Courville property near Val d’Or, Que. Finor is earning a 30% interest in the project from Parquet Resources (TSE), which d…
Ateba, Roxmark explore zone (December 19, 1988)
Assays of the gold mineralization at the 17th level of the old Magnet mine near Geraldton, Ont., have been encouraging, particularly where the entire widths of the mineralization are exposed in the wo…