PCA shareholders give nod to offer by Rio Algom
Preferred shareholders of Potash Co. of America (pca) have voted in favor of an amalgamation between their company and a wholly-owned subsidiary of Rio Algom Ltd. Rio Algom reports the preferred share…
News
A necessary delay
The lawsuit between International Corona Resources and Lac Minerals has developed into much more than a dispute within the mining industry. The case is now going before the Supreme Court of Canada and…
Some light in dark days
What with the fall of insider-trader Ivan Boesky, the market crash on Black Monday, and the recent release of a film, “Wall Street”, which excoriates the whole industry, it hasn’t been exactly a happy…
Uncertainty needs to be cleared up
If there was ever a time of uncertainty about financing junior minin g companies, it’s the last quarter of 1987. Did Michael Wilson’s white paper on tax reform spell the end of flow-through? Will chan…
Montreal listing for Spirit Lake
A Toronto-based junior mining company, Spirit Lake Explorations, inactive for many years prior to being revived in 1986, was recently listed for trading (symbol sel) on the Montreal Exchange. The comp…
Shareholders question Giant Bay option deal
What constitutes a fair option? That was the question on everybody’s mind at the recent Giant Bay Resources annual meeting. Indeed, most of the discussion period centred around President Claus Jensen’…
Eastmaque begins tailings operation
The first tailings have been pumped by Eastmaque Gold Mines to the mill at Kirkland Lake, Ont., the company reports. Although ice cover over Kirkland Lake was having a detrimental affect on dredging o…
Houston expects production decision by late spring
VANCOUVER — A production decision is expected by late spring on the Silver Queen polymetallic property near Houston, B.C., owned 60% by Houston Metals Corp. and 40% by New Nadina Exploration. A feasi…
LMX among big traders
With 1987 coming to a close most investors are out of the market and are setting strategies for next year. Not surprisingly, some are still licking their wounds from the Oct 19 crash and it will take …
Cominco participates in Chile gold deposit
VANCOUVER — In its second production decision this year, Cominco Resources International will participate in the development of the Marte gold deposit in north- central Chile. The project falls withi…
Wharf holding boosts output for Dickenson
Toronto-based Dickenson Mines appears well on its way to boosting its gold output significantly after gaining effective control of Wharf Resources of Calgary. With its 66% interest in the Arthur W. Wh…
Alaska Apollo plans 200 ton/day gold mine
An independent report on Alaska Apollo Gold Mines’ Shumagin gold property on Unga Island, Alaska, estimates the cost of bringing the 200-ton-per-day mine on-stream to be much higher than the company a…