Ambitious Kinross buys Falconbridge Gold
Toronto-based Kinross Gold (TSE) is on its way to becoming a new player on the Canadian gold mining scene. Just last month the company purchased two U.S. gold mines for US$16.8 million (see separate s…
1993
Placer sells Dona, mining to continue
With minable reserves nearly depleted, Placer Dome (TSE) has sold its Dona Lake gold mine to mining contractor Ross-Finlay for $2 million. The sale includes the mine, a 550-ton-per-day mill (south of …
AROUND THE GLOBE — Canalaska grants option to Delgratia
An option to earn 80% of the El Pauji concession in Venezuela has been granted to Delgratia Developments (VSE) by Canalaska Resources (VSE). The concession is about four kilometres south of Placer Dom…
Cazador’s option on BT extended
VSE-listed Cazador Exploration’s option to acquire 49% of the BT gold deposit near Lynn Lake, Man., has been extended, giving it breathing room to fulfil its commitments to the Keystone joint venture….
Stade buys shares
Calgary-based Golden Rule Resources (TSE) has agreed to buy 2.5 million units of Stade Exploration (ASE) at 26 cents per unit. Each unit will consist of a class A share and a share purchase warrant. O…
Northern Crown adds to Mexican holdings
By acquiring an option on the 2,200-hectare Mesa property in Sonora state, Northern Crown Mines (VSE) has added to its holdings in Mexico. To earn the interest, the company must pay US$225,000 over fi…
NEWS ROUNDUP — Ramrod adds to Cranbrook ground
Toronto-listed Consolidated Ramrod Gold has added to its ground position near Cranbrook, B.C., by entering an agreement to acquire the St. Joe claims, which lie north of its FORS and Vine properties. …
LETTERS TO THE EDITOR — Harcourt and company `myopic
The following is an open letter to Michael Harcourt, premier of British Columbia, in response to his government’s decision to expropriate the Windy Craggy copper project in favor of creating a provinc…
FINANCING (July 19, 1993)
Southwestern Gold Corp. — 800,000 shs @ $1.00. Eurus Resource Corp. — 1,500,000 units @ $1.19 and each unit consists of sh and 2 wts and 2 Series A wts purchase sh. Glamis Gold Ltd. — 2,000,000 shs…
LAST BUT NOT LEAST … Belmoral receives shareholder nod
Shareholders of Belmoral Mines (TSE) have approved a transaction which will take them out of debt and into oil and gas interests. Geopetrol Resources, a private Alberta company, has an option to buy t…
Hedman completes 4.2m-unit placement
A private placement of 4.2 million units at 12 cents each has been completed by Hedman Resources (ASE). Each unit consists of one common share and one warrant. The warrants can be exchanged for shares…
COMMENTARY — Gold price moves higher
There seems to be a cyclical element in the Western world’s gold production. It took 15 years, from 1951 to 1966, for annual production to rise by 75% to 1,285 tonnes (reflecting the development of th…