LAST BUT NOT LEAST — Electra boosts earnings
A half interest in the Aurora Partnership gold mine enabled Electra Mining Consolidated (VSE) to earn $382,462 (14 cents per share) in the first quarter. This compares with a loss of $42,416 for the s…
1994
LAST BUT NOT LEAST — HMC options ground in east
CDN-listed Hendricks Minerals Canada can earn a 75% interest in three properties in New Brunswick and Nova Scotia. The agreement covers gold geochemical and geophysical anomalies in Paleozoic volcanic…
LAST BUT NOT LEAST — Hardrock arranges private placement
Toronto-based Hardrock Extension (TSE) and a private investor have arranged a private placement of more than 740,000 shares at 20 cents each. Proceeds will be used this summer to explore a property in…
MINING IN CHILE — S. Amer. Gold and Copper developing
Hoping to become a 100,000-oz.-plus gold producer within the next three years, South American Gold and Copper (SAGC) is busy developing mining projects in Chile. Targeting “non-grassroots” projects wi…
LAST BUT NOT LEAST — Cliff ups stake in Cassiar property
Junior Cliff Resources (TSE) can increase its ownership in the Cassiar joint venture to 50% from 30% Situated in northeastern British Columbia, the former-producing Cassiar mine site consists of build…
Rio buying Polaris production royalty
Toronto-based Rio Algom (TSE) has agreed to buy a 25% royalty interest in the production proceeds from the Polaris mine on Little Cornwallis Island, N.W.T. The royalty interest is the main asset of NC…
NEWS ROUNDUP — Madsen to sell units
Toronto-based Madsen Gold (TSE) has proposed a private placement of 80-100 units at $12,350 each. A unit will consist of 9,000 flow-through common shares at $1.25 each and 1,000 common share purchase …
Gold demand on the rise in Pacific Rim markets
Gold demand in major developing markets in the Pacific Rim rose 10% to a record 98.4 tonnes during the first quarter of 1994 — a 10% rise over the same quarter last year, the World Gold Council repor…
PEOPLE — LATIN AMERICA GOLD
Alvin Einbender appointed chairman of the executive committee of the board; Gerard Munera appointed chairman; Carmen Fimiani appointed president; William Mulligan appointed executive vice-president of…
Stewart area an anomaly of activity in idle B.C.
While exploration and development are declining in many parts of British Columbia, the region surrounding the historic mining town of Stewart, B.C., is anything but quiet. The mineral-rich district is…
Gaspe workers sign contract
Unionized workers at the Gaspe Mines division of Noranda Minerals voted recently to accept a new 3-year contract after going on strike for two weeks. The 440 union members voted 58% in favor. The work…
$1.4-billion Falconbridge issue one of the largest in Canada
Strong base metal markets, particularly for nickel and copper, have helped a syndicate of underwriters float one of the largest Canadian equity issues of all time. A prospectus for almost 72 million s…