Placer to option McFinley project
McFinley Red Lake Mines (TSE) expects to solve some of its recent troubles by optioning its 30-claim Bateman Twp. gold project near Red Lake, Ont., to Placer Dome (TSE). The two companies have signed …
1992
Eastmaque, Equinox merger gains shareholder approval
Shareholders of both Equinox Resources (TSE) and Eastmaque Gold Mines (TSE) recently approved the merger of the two companies leaving Equinox the surviving entity. The companies expect to complete the…
IMM celebrates 100th anniversary
The Institution of Mining and Metallurgy (London) recently hosted a dinner in Toronto to mark the 100th anniversary of the organization’s founding. Guest speaker was Hugh Allen, president of the IMM a…
Taseko earmarks $8.5 million for Fish Lake work
Private placement financing totalling $7.1 million has been arranged by Taseko Mines (VSE), allowing the company to proceed with an $8.5-million exploration, engineering, feasibility and permitting pr…
Metal prices, summer strike cause 1991 loss for Curragh
Weak metal prices and a summer strike at the Faro, Yukon, zinc-lead mine, forced Toronto-based Curragh Resources (TSE) to take a net loss of $98.3 million or $3.06 per share in fiscal 1991. In 1990, C…
Minnova confirms Benoit reserves
The first phase of drilling completed on the Benoit property southeast of Miquelon, Que., established the continuity of the known zone but failed to intersect any additional gold zones. Minnova (TSE),…
Governor General opens MacMillan mineral gallery
“A great day for Canadian mining” was the consensus of some 500 invited guests attending the recent gala opening of the Viola MacMillan Mineral Gallery here. The gallery provides a home for the magnif…
Toronto Stock Exchange (March 16, 1992)
Shares of Aber Resources emerged among the volume leaders during the week ended March 10 as the diamond explorer flew an airborne survey over its 420,000-acre property in the Northwest Territories. As…
Cheni works to restructure long-term debt
With economic reserves essentially exhausted and a balance sheet in critical condition, Cheni Gold Mines (TSE) is working to refinance its bank debt as well as restructure the company’s long-term liab…
PRODUCER PRICES (March 16, 1992)
ALUMINUM: MW U.S. market US61-62 cents per lb. (Feb. 27, 1992). ANTIMONY: New York dealer US82-84 cents per lb. (Aug. 8, 1991). BISMUTH: New York dealer US$2.90-3.10 per lb. (Jan. 23, 1992). CADMIUM: …
Wharf opposes United Coin mine deal
Wharf Resources (TSE), the largest unsecured creditor of United Coin Mines (TSE), says it will fight to have a recent agreement between United Coin and MinVen Gold (TSE) revoked. Under the agreement, …
Royal Oak takes control of Trader
Shareholders of Trader Resource (TSE) unanimously approved an offer to exchange 15 million shares for interests in two Ontario mineral properties held by Royal Oak Mines (TSE). Royal Oak now owns over…