News in Brief (June 20, 1988)
Playing a much more aggressive role in the Vancouver market, Homestake Mining recently concluded option agreements with McConnell-Peel Resources (VSE) and Sheba Copper Mines. The agreements, which cov…
News
People (June 20, 1988)
Quartz Mountain Gold Corp. — David S. Jennings appointed president and chief executive officer.
Sikaman, Centenary in joint venture
A joint venture agreement has been entered into by Sikaman Gold Resources (TSE) and Centenary International Mining of Australia to develop a base metal property in northwest Australia. Sikaman may ear…
Kiena, Sigma approve merger with Placer
Shareholders of Kiena Gold Mines (TSE) and Sigma Mines (TSE) have approved merging with Placer Dome. Sigma shareholders voted 94% in favor while Kiena shareholders voted 89% in favor at annual and spe…
Magnacon returns best hole
Having found a financial backer in Edmonton-based Echo Bay Mines (TSE), Flanagan McAdam Resources (TSE) considers itself in good shape for what should be a pivotal year in the company’s history. Under…
Mining industry thrown an unexpected lifeline by Ottawa
If mining observers were staring into their crystal balls last October and predicting the demise of many junior sector companies, some recent developments are forcing the pessimists to take another lo…
Homestake takes position in Vancouver companies
Developing “strategic relationships” has become an important part of Homestake Mining’s investment strategy in recent months, particularly in Canada. A few weeks ago the company entered into a series …
Audrey’s new sulphide lens, biggest since Quemont find
With four drills on site, Audrey Resources (TSE) is beginning to outline the dimensions of a new massive sulphide lens discovered recently near the company’s 70%- owned Mobrun mine workings at Rouyn-N…
Income from Barrick down, Horsham says
Due to the dilution of its ownership position in American Barrick Resources (TSE) of Toronto, The Horsham Corp.’s (TSE) share in the gold producer’s income declined this year. Horsham reported first q…
Cassiar negoitating to buy copper mine from Newmont Mines
At press time The Northern Miner learned that Cassiar Mining (TSE) was negotiating the purchase of Newmont Mines’ Similkameen Copper operation near Princeton, B.C. The move by Cassiar appears to be an…
Inco expects its nickel price will top $5/lb
The world’s premier nickel producer, Inco Ltd. (TSE), says its expects its average realized price for nickel will exceed $5(US) per lb for the second quarter of 1988. The company, which doesn’t normal…
FINANCING (June 13, 1988)
VANCOUVER Approach — min 600,000 offered @ 35 cents per sh. Claw — 600,000 sold for gross $127,400. Dundee — gross proceeds rec $270,000. Tungco — 700,000 shs offered @ 82 cents per sh. Trans As…