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…
1993
Canamin updates Huckleberry reserves
With 4,090 metres having been drilled on the newly discovered East zone, New Canamin Resources (VSE) estimates preliminary reserves at its Huckleberry property near Kemano, B.C., are 31 million tonnes…
Chilean copper mine — Minera’s Ivan gets green light
Having secured a commitment for US$18 million in debt financing from the Chase Manhattan Bank of Canada, Minera Rayrock (TSE) is bringing into production its Ivan copper deposit in northern Chile. The…
Rome shareholders approve transaction
Shareholders of Rome Resources (VSE) have agreed to acquire joint-venture and exploration rights in Armenia by issuing 12 million shares to businessman Gregorio Becerro. The transaction has yet to be …
Metall boosts Teck interest
Copper-producer Metall Mining (TSE) has increased its direct and indirect voting interest in Teck (TSE) to 33.5% from 28.5%. In a private transaction, Metall acquired 273,500 A shares of Teck, bringin…
LETTERS TO THE EDITOR — Manitoba’s Bill 41 threat to
For many years, on a personal basis and through the Prospectors and Developers Association of Canada (PDAC), I tried, without success, to bring out the facts about the low state of minable ore reserve…
AROUND THE GLOBE — Takla and Fairfield option Tanzania
Alberta-listed Tan Range Exploration has granted Takla Star Resources (ASE) and Fairfield Explorations (ME) an option to develop the Luhala and Ngula gold projects in Tanzania. Takla and Fairfield can…
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…
Rea evaluates old Bissett mine
In re-evaluating its Bissett mine, 160 miles northeast of Winnipeg, Man., Rea Gold (TSE) projects reserve potential to be more than one million oz. of contained gold. Minable reserves, as previously e…
Russian gold mine — Cyprus to develop Russian bet
A joint venture formed by a unit of Cyprus Minerals (NYSE) and five Russian partners has won a bid to develop a gold mine in the Madagan region of far-eastern Russia. The advanced Kubaka mine project …
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…