Montanore drops property option
Noranda Minerals, a U.S. subsidiary of Noranda (TSE), reports that an option held by Montanore Reserves to reacquire a 45% interest in the Montanore silver-copper project expired July 29. As a result,…
News
Green light for Kodiak project
Construction can now begin on the Kodiak heap-leach gold project at Golden Bear mine in northwestern British Columbia. North American Metals (VSE) received the required mine development certificate fr…
NEWS IN BRIEF (August 15, 1994)
Leader Mining Corporation (LMC:ASE) has changed its name to Leader Mining International Inc. (LMN:ASE) on a 1-new-sh-for-5-old-shs basis.
MSV increases quarterly output
Second-quarter production at the Copper Rand and Portage projects near Chibougamau, Que., increased by 45%, compared with the same period in 1993, MSV Resources (ME) reports. Quarterly output of 104,0…
AMERICAS — Reclamation of California mercury deposits a
Previous mining of mercury deposits in the northern California Coast Range mercury belt has become the source of environmental geochemical concerns. Occurrence of metals in the surrounding rock, soil,…
AMERICAS — Mining industry faces a growing cost in
According to Statistics Canada, absenteeism will cost Canadian employers more than $10 billion in 1993. Two out of three employers that A. Foster Higgins surveyed at the end of 1992 also indicated tha…
AMERICAS — New York hosts pair of wollastonite miners
Wollastonite has been mined in New York state since the 1940s. The two companies currently mining the mineral in the state are NYCO Minerals and R.T. Vanderbilt. The NYCO deposit in Essex Cty. contain…
UN approves resolution regulating seabed mining
The United Nations General Assembly has passed a resolution regulating seabed mining, paving the way for ratification of the landmark UN treaty on the Law of the Sea, which has languished for years. T…
INSIDER TRADING — Great Lakes officials exercise options,
A director and a senior officer of Great Lakes Minerals (TSE) exercised options and sold shares in June. According to the Ontario Securities Commission’s OSC Bulletin, director Robert Cudney exercised…
GOLD FUNDS (August 08, 1994)
Gold Funds as of Aug 1 BGR Central Net Value $17.56 $6.85 Price $15.63 $7.375 Premium 7.7% Discount 11.02 Value $142,665,000 $133,482,338…
Royal Oak gives new life to northern Colomac mine
The drama surrounding Royal Oak Mines’ (TSE) takeover bid for Lac Minerals (TSE) is overshadowing the startup of the Colomac gold mine 137 miles north of Yellowknife, N.W.T. Royal Oak expects to produ…
Rights issue for Breakwater
Under a proposed rights offering, common shareholders of Breakwater Resources (TSE) will receive one right for each common share held. One right will entitle the holder to buy one common share at 10 c…