Sampling ups RJK’s reserves
Estimates of the amount of gold contained in the Box and Athona deposits near Uranium City, Sask. are about to increase significantly due to a sampling/assaying program called total gold extraction. T…
1989
Cathedral in red ink for third quarter
A net loss of $113,000 was reported by Cathedral Gold (TSE) for the third quarter ended Sept 30. For the first nine months of the year, net loss was $256,000 on revenues of $1.22 million. Gold product…
FINANCING (December 18, 1989)
Desert Gold — gross proceeds; rec $270,000. Varitech Res — min 450,000 offered @ 55 cents per sh. Golden Peaks — gross proceeds rec $218,750. Gold Summit — min 800,000 offered @ 35 cents per sh….
Rouyn has revenues
Rouyn Mining Resources (TSE) generated revenue of $4.9 million for the year ended Aug 31. Earnings were $808,330 or 9 cents per share. There are no comparative results from prior years. The company’s…
New chairman of QSC named
A new chairman has been named for the Quebec Securities Commission. Paul Fortugno, 43, currently vice-chairman of the regulatory organization, will begin his 5-year term Jan 3. Fortugno will replace P…
People (December 18, 1989)
NUSPAR RESOURCES — Alex Burton appointed to the board of directors and named vice-president of operations.
Trelleborg probes Spanish deposit
A major zinc deposit may have been uncovered by Trelleborg in southern Spain. The Swedish company, which recently purchased a 50% ownership in Falconbridge Ltd., is reported to be excited about one of…
Vancouver Stock Exchange Seven Mile High active
Trading on the Vancouver market was somewhat lacklustre for the week ended Dec 12 with the VSE Index mostly at the 700-point level. On a more positive note, gold began to inch back up from the $400(US…
Fancamp to explore Mattagami gold bet
Montreal-based Fancamp Resources (VSE) and privately owned partner Fort Rupert Resources are preparing to begin drilling early in 1990 at their jointly owned Lac Marcaut gold-silver property, 136 mile…
First Toronto loss includes writedowns
Writedowns of certain assets contributed to a 9-month loss of $32.5 million ($2.53 per share) by First Toronto Mining (TSE), which has undergone a management change. For the same period last year, the…
Parquet, Cache in option deal
An option has been granted by Parquet Resources (TSE) to Explorations Cache (ME) whereby the latter may acquire up to a 50% interest in the former’s Courville gold property, 30 km northeast of Val d’O…
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…