United Keno digs up new partner

Article Abstract:

Dynatec Corp. of Richmond Hill, Ontario, has agreed to invest $11 million in United Keno Hill Mines Ltd. of Toronto, Ontario. The cash infusion will help rehabilitate and operate the Elsa properties. According to United Keno, production at an annual rate of about five million ounces will start in 1998. Meanwhile, Dynatec, a mining services, drilling services and metallurgical technology company, will serve as the mine operator. Dynatec will buy C$1.5 million United Keno shares as part of the deal. United Keno will also have to find a third party to buy another C$1.5 million of shares.

Comment:

Has agreed to invest $11 million in United Keno Hill Mines of Toronto, Ontario

Canada, Mining Machinery and Equipment Manufacturing, Mining Equip NEC, Mining machinery, Dynatec Corp.

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Manalta Coal approves poison pill on Luscar bid

Article Abstract:

Manalta Coal Income Trust, managed by Calgary, Alberta-based Manalta Coal Ltd., has approved a poison pill, a unitholder rights plan, to delay a C$550-million takeover bid by its coal mining competitor, Luscar Coal Income Fund, managed by Edmonton, Alberta-based Luscar Ltd. The rights plan, scheduled to expire on Oct. 1, 1998, could force investors to pay the final C$348-million owed for the units acquired on an installment plan. The rights issued to the unitholders would let each to buy trust units at a 50-per-cent discount to the market value.

Comment:

Its C$550-mil takeover bid is eyed to be delayed by Manalta Coal Income Trust's poison pill, a unitholder rights plan

Asset sales & divestitures, Coal, Coal Mining, Alberta, Luscar Coal Income Fund, Manalta Coal Income Trust

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United Keno changes contractor in Yukon

Article Abstract:

Burnaby, Brit Colum-based Procon Mining and Tunnelling Ltd. has been selected by Toronto, Ontario-based United Keno Hill Mines Ltd. as the new contractor for its silver mines in Yukon Territory, Canada. Procon Mining and Tunnelling will be tasked with operating and re-opening the silver mines of United Keno Hill Mines. The contract, which is expected to have a value of C$18 million to C$16 million, was designated as a top priority by United Keno Hill Mines' chief executive and chairman, Stephen Powell.

Comment:

Is selected by Toronto, Ontario-based United Keno Hill Mines as the new contractor for its silver mines in Yukon

Research and Development in the Physical, Engineering, and Life Sciences, Use of services, New orders received, Silver Mines, Silver Ore Mining, Yukon Territory, Mining Engineers, Silver mining, United Keno Hill Mines Ltd., Procon Mining and Tunnelling Ltd.

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