Lornex wind-up meets opposition
An agreement concluded earlier this month between Rio Algom (TSE) and Teck Corp. (TSE) which would see Lornex Mining (VSE) discontinued as a public company is said to be facing opposition by at least …
News
Aunore funding
Two private placements totalling $1 million have been completed by Aunore Resources (ME) with Middlefield Resource Fund 1988 Ltd. Partnership II. The company says proceeds from the placements (worth $…
Books (December 19, 1988)
Walter Guppy’s book “WetCoast Ventures” (N.M., Dec 5/88) can be ordered directly from him at Box 94, Tofino, B.C. VOR 2Z0. Or you can contact Guppy by phone (when he’s not out prospecting) at 604- 725…
Placer taking control of La Coipa
A gold and silver mining project in Chile with proven and probable reserves in excess of five million gold equivalent ounces appears to be on its way into the international property portfolio of minin…
Value of ’87 mineral production in Canada reaches $17.7 million
The value of mineral production in Canada (excluding petroleum and natural gas) totalled a record $17.7 billion in 1987, the Mining Association of Canada reports. Of that amount, the value of gold con…
Toronto Stock Exchange Gold equities dragged by tumbling bullion
Investors continued to beat on gold equities, dumping shares of companies in all catagories. The index responded to a $4 decline in the price of bullion, which opened at $422.60 on the second London f…
Noranda takes 100 tons from Central Crude bet
Noranda Inc. (TSE) is taking out a 100-ton surface bulk sample from five test areas on the No 6 and No 8 zones in the Mishibishu Lake area. Located 30 miles west of Wawa, Ont., the property is being e…
Corona-Varna deal
Corona Corp. (TSE) has the right to earn a 100% interest in a Newfoundland gold property owned by Varna Gold (ASE). The interest in the Mings Bight project can be earned by paying Varna $360,000 over …
Agnico’s Telbel shaft back to norman
With operations at its Telbel shaft now back to normal and its 32%- owned Dumagami Mines (TSE) subsidiary coming on strongly, Agnico- Eagle Mines’ (TSE) Paul Penna is breathing much easier these days….
Can-Mac flow-through
Can-Mac Exploration (VSE) has arranged a flow-through share financing of $300,000. Can-Mac will issue 909,091 common shares at a price of 33 per share. The company must spend the proceeds by Dec 31 o…
Canamax increases Mt Hundere’s reserve
Geological reserves have been increased by Canamax Resources (TSE) on the company’s Mt. Hundere zinc-lead property near Watson Lake, Y.T. Drilling has outlined reserves of 5.2 million tonnes grading 1…
Editorial Balancing act
Two of the bogeymen in our business culture are corporate concentration and hostile takeovers. But in the true spirit of a free market seeking its own level of equilibrium, these two forces may be in …