New clearing system for metal exchange
The London Metal Exchange will introduce a new clearing system May 29. Changes to the current form of trading will include the introduction of a single monthly prompt date for 12 months beyond the exi…
News
Lac Shortt royalty deal upsets Opawica meeting
The sharp differences between Opawica Explorations Inc., vendor of the Lac Shortt gold mine property of Corp. Falconbridge Copper, and that company surfaced during a lengthy annual meeting of Opawica …
Four Seasons
Four Seasons Resources has negotiated a $100,000 flow-through share financing which will be used to fund exploration at its Nova Scotia gold property. The company has ground adjacent to and on strike …
Teck earnings rose in quarter
The latest quarterly earnings for Teck Corp. included revenues from the David Bell mine at Hemlo which produced 23,100 oz gold during the period. Teck reported net earnings of $6.5 million or 12 cents…
Drilling starts on Goldbrae’s Stump Lake bet
Drilling has started on Goldbrae Developments’ Stump Lake property in B.C. under option with Saturn Energy and Resources The initial program consists of 2,500 ft of diamond drillng on target No 1 whic…
Onitap adding third drill rig
A third drill rig is being added on the Boston-Richardson property held by Onitap Resources. Located near Isaac’s Harbour, N.S., the property includes a former producing mine which yielded 50,000 oz o…
Investment Comment Three anaylsts look at Inco
The latest financials coming out of Inco Ltd. have clearly been hurt by the tumbling price of nickel. Though the company did manage to break even for the latest fiscal year ended Dec 31, it did so by …
Locator options Theresa property
Locator Resources has acquired an option to earn a 50% interest in the Theresa gold property near Geraldton, Ont. The 18-claim property was partially developed from 1948-1953 by three shafts to a dept…
Zuni Energy plan to recover scrap from ocean floor
The economics of mining mineral-rich nodules on the ocean floor has been debated for years. And it’s almost a certainty this practice would not be feasible at today’s metal prices. But how about refin…
News in Brief (February 23, 1987)
William Frederick Christensen has filed a notice of intention to distribute 150,000 shares of Lytton Minerals through the facilities of the Toronto Stock Exchange on or after Feb 17. The shares to be …
Report from Calgary Dawson Eldorado options Nevada bet
Results of a diamond drilling program on the Lone Star gold property near Dawson, Yukon Territory, have been announced by Dawson Eldorado Mines. The program, operated by Arbor Resources, was conducted…
Durham increases voting interest in Oakwood Petroleum
The board of directors of Durham Resources has agreed to acquire approximately an additional 30% voting interest in Oakwood Petroleums for the issuance of 8,310,676 Durham shares. This will increase D…