News in Brief (December 18, 1989)
Canarim Investment Corp. has changed its name to L.O.M. Western Securities Ltd.
1989
Goldpost signs deal
Goldpost Resources (TSE) has sold its 78.3% share holding in Holcorp Gold Mines for $140,000. Holcorp agreed to sell to Goldpost eight patented claims consisting of surface and mineral rights containi…
Goldex hits zone on Ormico gold bet
Goldex Mines (TSE) says it has intersected a new gold zone while drilling Ormico Exploration’s Val d’Or, Que., claims from the 1,250- ft level on its own ground. Goldex recently completed the work nee…
Homestake drilling Kamad Silver property (December 18, 1989)
A drill program by a subsidiary of Homestake Mining (NYSE) is under way on the Kamad 7 claim adjacent to the Minnova/Rea Gold Samatosum mine near Barriere, B.C. According to Kamad Silver (VSE), previo…
Coughlan hearing scheduled for Jan 22
The Ontario Securities Commission has issued a notice of hearing to Terence Coughlan to appear before the commission Jan 22. The notice refers to allegations that Coughlan, as president of Seabright R…
Teck to drill Iron Mask
A reverse circulation drill program by Teck Corp. (TSE) is planned for the Iron Mask copper-gold project 20 km west of Kamloops, B.C. As operator, Teck can earn a 50% joint venture interest in the 4,5…
Toronto Stock Exchange Gold shares ease as bullion price drifts
Gold stocks, which have held centre stage on The Toronto Stock Exchange for the past few weeks, crumbled today, Dec 13, under a barrage of selling pressure which skimmed more than 200 points or 2.58% …
Tandem buys shares
Tandem Resources (ME) has purchased 1.37 million common shares of Ayrex Resources (ASE) for 20 cents per share. The transaction raises Tandem’s interest in the company to 56%.
Ontario’s annual mines symposium starts Dec 11
Ontario’s annual mines and minerals symposium is being held Dec 11-13 at the Metro Toronto Convention Centre. “The aim of the symposium is to allow participants to learn as much as possible about mine…
Golconda using new method at California gold project
Calgary-based Golconda Resources (ASE) recently announced some encouraging drill results from its Star City gold property in California. Golconda can earn a 60% stake at Star City where the company ha…
Giant slashes production costs
Third-quarter results of Giant Yellowknife Mines (TSE) indicate the gold producer is back on track after a period of fairly high production costs. Coincidentally, the company has been put up for sale …
Colony Pacific gets approvals for underground work
The proposed underground exploration program at the Blue Moon project owned 100% by Colony Pacific Explorations (TSE) was recently approved by all the required government agencies. The wait for enviro…