Galactic/Can-Pacific in Chinese venture
Galactic Resources (TSE) is teaming up with another Vancouver company, Can-Pacific Rare Earths, to conduct exploration in China. The new company Galactic Resources China, will attempt to strengthen th…
News
Rio Plata to Drill Hislop and Matheson Claims
A 4-month preliminary exploration program carried out by Rio Plata Resources (VSE) was recently completed on the Hislop and Matheson Township claims in northern Ontario. The company says geophysical s…
Rio Algom, Teck, planning wind-up of Lornex Mining
An agreement has been concluded between Rio Algom (TSE) and Teck Corp. (TSE) which should see Lornex Mining (VSE) discontinued as a public company. The tightly held company was incorporated in British…
American Barrick reports 9-month earnings increase
A 33% increase in production from seven gold mines has enabled American Barrick Resources (TSE) to report record third-quarter and 9-month earnings. The Toronto company increased its gold production t…
Echo Bay Mines earnings steady
Third-quarter earnings were steady for Echo Bay Mines (TSE), despite increased sales from expanded production. The company had net earnings of $13.5(US) million or 14 per share in the third quarter, …
Rockford, Ranger plan amalgamation
Rockford Minerals (TSE) has agreed in principle to amalgamate with Northern Ranger Minerals (ASE). The terms of the merger are one common share of the new company for each Rockford share held and thre…
Gibraltar strike affects earnings
Normal mining and milling operations remain suspended at Gibraltar Mines’ (TSE) open pit copper mine near Williams Lake, B.C. The Placer Dome (TSE) subsidiary said one of two alternative contract offe…
INSIDER TRADES (November 21, 1988)
Beaufield — J. Murdoch sold 25,000 (Sept) to hold 350,000. Dejour — NIM & Co 1988 bought 1,564,455 (July) to hold 1,564,455. Dumagami — Mentor bought 107,100 (June- Sept) to hold 319,300. Echo Bay …
Wye Resources drilling yields positive results
COATS-listed Wye Resources has reported positive drill results from the Saganaga property located near Kashabowie, 140 km west of Thunder Bay, Ont. The 43-claim property is under option from Curran Ba…
Augmitto option
Augmitto Explorations (TSE) has acquired an option to earn a 51% interest in the Bazooka property, adjacent to the western boundary of Augmitto’s gold property near Rouyn, Que. Under the terms of the …
Uranium Resources Signs New Sales Contract
A long term contract with a major U.S. electrical utility is expected to generate revenues of about $45 million(US) for Uranium Resources (VSE), which produces uranium in South Texas using low cost in…
Ketza ore reserve mishap puts PTO near bankruptcy
A serious ore reserve miscalculation at the Ketza River gold mine near Ross River, N.W.T., has put Pacific Trans-Ocean Resources (TSE) in a financial quandary. A joint venture partner with Canamax Res…