NEWS ROUNDUP — Noranda cancels Parquet option

Noranda Exploration, a unit of Noranda (TSE), has informed Parquet Resources (ME) that it does not intend to make its next option payment of $40,000 on Parquet’s Duparquet Twp. property near Rouyn-Noranda, Que.

As a result, Noranda will lose its option to earn a 50% interest in the base metal property and the agreement will terminate on Feb. 5, 1993.