News in Brief (March 30, 1987)
Signet Resources has changed its name to New Signet Resources Inc. on a basis of 1 new for 4 old shares.
News
Equity parent buying shares
Equity Silver Mines has agreed to sell Placer Development or a subsidiary 6.6 million special voting shares at a price of $5.62 per share. The value of the transaction is approximately $37 million. Eq…
Brokerage firm finance Fury to production
A major London brokerage firm has agreed to finance Fury Explorations’ Grantsville property to production. The value of recoverable silver from the modest heap leach project is said to compare favorab…
Investment Comment Waiting for Lac/Corona decision
It has been nearly four months since Lac Minerals and International Corona Resources wrapped up their arguments to the Ontario Court of Appeal over the ownership of the Hemlo Page-Williams mine. At th…
COATS Trading Features (March 30, 1987)
Clavos Porcupine Mines continued to advance, closing at 43 cents -48 cents . The company holds a 27.5% net profits interest in a gold property being worked by Canamax Resources. Located northeast of T…
Correction (March 30, 1987)
In the March 16th issue we erroneously said that mining contractor Patrick Harrison was honored at the Operator’s Conference in Elliot Lake last month. That report should have said J. C. MacIsaac, not…
Sullivan has loss, blames placer mine
Problems at the Valdez Creek placer mine in Alaska are being cited as the primary reasons behind the 1986 loss at Sullivan Mines. Sullivan and partners have experienced higher operating costs, delays …
D’Or Val drills high grade gold
D’Or Val Mines, which is scheduled to pour its first gold by month-end from its Beacon mine near Val d’Or, Que., has come up with a spectacular drill hole. Hole 96-13, drilled below the 7th level and …
Vancouver Stock Exchange Heavy, record-breaking volume
Yesterday the Vancouver market roared as investors stampeded into speculative issues and the index broke yet another record. For the first time ever, it breached the 1,645 level and vse spokesperson H…
Alberta Stock Exchange Shabu looking shaky
One of the highest flyers on Alberta during the past month has been Shabu Gold Mines. The issue, which came out at 35 cents in February, soared past $11 today. Unbelievable as it may sound, Shabu’s o…
Ahead of schedule Pegasus output climbing
With mining and processing operations under way one month ahead of schedule in Montana, Pegasus Gold is projecting cumulative gold production for 1987 of approximately 225,000 oz. Last year the compan…
Report from Calgary Naneco plans heap leaching
Naneco Resources, as a result of 1986 exploration and development programs, is planning for commercial production from two heap- leach gold properties in the United States. An extensive infill and dev…