FINANCING (July 18, 1988)
ONTARIO Golden Mink — final rec iss offer 500,000 @ 50 cents per unit to net $250,000. VANCOUVER Cross Lake — 400,000 sold for gross $200,000. Footwall — 500,000 sold for gross $250,000. Keefer –…
News
ARX Resources merger
As reported in last week’s issue, a new company called AXR Resources (ASE) has been created through the amalgamation of Argentex Resources Exploration (VSE) and Sholia Resources (ME). However, there w…
Editorial “Greenhouse” scare boosts nuclear power
Despite the recently-announced abandonment (after it had been completed) of a major U.S. nuclear power station, other events have offered hope and expectation that there will be no slowing in the worl…
MVP takeover proposal for troubled Camindex
In order to get its hands on gold production, MVP Capital Corp. (TSE), a mining finance company, has made an offer to acquire a minimum 90% interest in Camindex Mines (TSE). MVP is offering Camindex s…
American Reserve hits at Paymaster
Deep drilling completed on the Paymaster mine property in Timmins, Ont., has intersected strong gold values 175 ft below the workings of the shutdown mine, partners Associated Porcupine Mines (TSE) an…
OBITUARY John Black
John Black, a well known mining executive, died recently in North Vancouver. He lived his early days in St. Louis, Miss., and attended Queen’s University before joining Rio Algom in the early years of…
Energex program in Toodoggone expected to cost $1.5 million
Mobilization for a $1.5-million exploration program on Energex Minerals’ (VSE) Al project in the Toodoggone area north of Smithers, B.C., is under way. The program is designed to increase reserves of …
Metal Prices FUTURES PRICES (July 18, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Jul 97.25 95.85 96.25 — 4.25 Sep 92.60 91.20 9…
Lac completes 14 Garrison holes
Fourteen holes have been completed in an ongoing drill program at the 106-claim Garrison gold property in northeastern Ontario, related companies Silverside Resources (TSE) and Proteus Resources (VSE)…
Ex-Pegasus managers to fund Neptune’s dream
To be successful, mining companies run by innovative and free- wheeling people have to be married to financial backers who are equally innovative and free- wheeling. Neptune Resources (TSE) has done j…
Comex set to begin trading high grade copper contracts
A high grade copper contract will be introduced July 29 by the New York Commodity Exchange (Comex) in response to a growing supply of, and demand for, Grade 1 cathodes. Hugh Sigmon, Comex’s director o…
Jerome, Muscocho inching towards Swayze mine goal
Jerome Gold Mines (ASE) has arranged for a private placement through First Toronto Capital Corp., to fulfill its obligations at the Jerome mine joint venture at Swayze, Ont. Under an agreement with pa…