News in Brief (January 19, 1987)

Acadia Mineral Ventures says it has completed a private placement of flow-through shares, to raise a total of $400,000, at a price of $1.95 per share. President Donald Smith says the funds raised will be spent on exploration of the company’s Mooseland and Renfrew properties in Nova Scotia, before March 1.

The share purchase warrants of Falconbridge Ltd. which were posted for trading on Feb 11, 1983 were part of a unit offering by prospectus on Jan 26, 1983, expire on Feb 5, 1987.

An additional 1.3 million common shares of Noranda Inc. were listed on the TSE on Jan 9. This additional listing covers treasury shares to be issued by the company at $20 per share pursuant to the terms of a Dec 30 prospectus.

The 19th annual operators conference of the Canadian mineral processors division of the Canadian Institute of Mining and Metallurgy will be held Jan 20-22, at the Westin Hotel, Ottawa, Ont.

Guld Resources Corp. has changed its name to Medsource Systems on a share-for-share basis.

New Strategic Metals has changed its name to P.S.M. Technologies on a share-for-share basis.

The common shares of Novamin Inc. were posted for trading on the TSE on Jan 14. Directly and through its subsidiaries, the company owns varying interests in mining properties covering over 300,000 acres across Canada. Out of its authorized capitalization of 8.5 million common shares, 4,607,285 shares are issued and outstanding.

The common share purchase warrants in respect of 2,058,000 common shares of Augmitto Explorations were posted for trading on the TSE on Jan 14. The warrants were issued as part of a public offering of units in Quebec pursuant to a Sept 15 prospectus. Each warrant entitles the holder to purchase one common share of the company at a price of $1.75 on or prior to 4:00 pm, Montreal time, on Sept 15, 1987.

Copconda-York Resources has terminated its agreement with Corporate West Ltd. of South Perth, Australia. Under the terms, Copconda- York would have purchased 21.79% equity interest in Corporate West. The purchase was terminated without liability upon either party. Copconda-York says it intends to go ahead with its plans to complete a financing in order to provide funds for possible future projects.

Following the Jan 16 expiry date, Denison Mines options were to be removed from the TSE trading list. No new options will be posted for trading.

Flint Rock Mines has completed 1,200 ft of drilling on its patented claims in the Kirkland Lake area funded by $25,000 raised through the sale of 125,000 flow-through shares at 20 cents per share. Drill assay results failed to confirm surface findings but indicate the vein zone is anomalous in gold.