Arctic reorganization may hinge on debt payments

Article Abstract:

Arctic Precious Metals Inc's reorganization may depend on the postponement of payments on $330 million worth of debt. The company was the guarantor of a $120 million loan that its affiliate and the now-defunct Royal Oak Mines Inc had secured with Trilon Financial Corp and its mining affiliate, Northgate Exploration Ltd. The company also provided similar guarantees to owners of $175 million in senior subordinated notes and $34 million in hedge loans that was used by Royal Oak to build and operate its Kemess gold mine in British Columbia.

Financial management, Arctic Precious Metals Inc.

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Former Arakis Energy chief fined $1.2-million

Article Abstract:

The British Columbia Securities Commission has fined former Arakis Energy Corp CEO Terry Alexander and banned from trading Vancouver-listed securities for 20 years. The official committed violations in 1993-1995, including trading with knowledge of unpublicized company changes and failure to make insider trading reports. Alexander was in the process of securing financial sources for a Sudanese oil project.

British Columbia, Arakis Energy Corp.

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Lundins go where others fear to tread

Article Abstract:

The Lundin family's involvement in the oil and mineral mining business, with companies such as Lundin Oil AB, is presented.

Sweden, PETROLEUM AND COAL PRODUCTS, Officials and employees, Mergers, acquisitions and divestments, Mining industry, Petroleum industry, Lundin Oil A.B.

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