Cantung to sell Queenstake shares
An Australian company, Balmoral Resources nl, has agreed to purchase the majority of Canada Tungsten Mining’s interest in Vancouver-based Queenstake Resources. The shareholding has been for sale for s…
1987
Deka nears production for Minnova, Syngold
A production decision is still some time away for the Deka (Donalda mine) prospect in northwestern Quebec, but Syngold Exploration President Barry Simmons is confident the project will be developed. A…
Six-month recovery 7,300 oz for Canroes
Gold recovery during the second and third quarters will be 7,300 oz with an estimated production cost, including processing, of $227(US) per oz, Canreos Minerals reports. The company says it mined 65,…
Marker, Varna unite as Varna Gold Inc.
Calgary-based Marker Resources has merged with Varna Resources to form a new amalgamated corporation called Varna Gold Inc. The new company will hold working interests in approximately 400,000 net acr…
Perron gears Sleeping Giant for early ’88 production
Output of 50,000 oz gold is expected during each of the first two years of operation of Perron Gold Mines’ Sleeping Giant mine in northwestern Quebec which is expected to go into production early in 1…
Investors everywhere bewildered as world markets continue in
..Nothing so gives the illusion of intelligence as personal association with large sums of money. John Kenneth Galbraith, Canadian economist With so much wealth erased during the past two weeks as …
Chesbar to drill at Yeo Twp. bet
Gold values of 0.62 oz gold per ton and 0.31 oz were obtained from grab samples taken to check an earlier set of sampling results from Chesbar Resources’ 8-claim, optioned property in Yeo Twp. in nort…
$35-million credit facility to finance Canamax projects
Toronto-based Canamax Resources has reached an agreement with National Westminster Bank of Canada to finance construction and development of Canamax’s three new gold mines. They include the company’s …
Surf Inlet to explore old Surf mine workings
Vancouver-based Surf Inlet Mines recently completed a private placement with Beltech Corp. of Australia to raise $1 million to finance the first phase of a major underground program at the Surf Inlet …
Copper heading for oversupply
After four years of substantial shortfall, it appears the global copper market is set to revert to oversupply in 1988 as production surges ahead, Shearson Lehman Brothers reports in its Annual Review …
Arbitration win for Teeshin Res.
Teeshin Resources has won an arbitration hearing which allows the company to become the operator of the Dome Mountain gold project in British Columbia. Teeshin will be replacing Canadian United Minera…
Colony Pacific to purchase Westmin Blue Moon interest
The fact that Imperial Metals Corp. was after Westmin Resources’ Blue Moon project has probably been one of Vancouver’s worst kept secrets over the years. But it became very apparent in May, 1986, whe…