Vengold tables loss, responds to criticism
Saddled with a US$115-million debt load and a first-quarter net loss of US$16.7 million, Vengold (VEN-T) found itself facing some criticism from shareholders at its annual meeting in Vancouver.Several…
Articles by Northern Miner Staff
Manhattan wins approvals
It was a long time coming, but Manhattan Minerals (MAN-T) has finally received all necessary government approvals to begin exploration on the Tambo Grande mining concessions in northern Peru.The Peruv…
Taseko poised to close deal for Gibraltar copper mine
Hunter-Dickinson-led Taseko Mines (TKO-V) has entered into an agreement with Boliden (BOL-T) to acquire the Gibraltar copper mine, near Williams Lake in central British Columbia.Gibraltar is a large-s…
Newmont’s Batu Hijau nears completion
The huge Batu Hijau copper-gold mine on the Indonesian island of Sumbawa is 90% complete and due to enter production in the fourth quarter. Commercial production is expected to follow in the first qua…
Kennecott reports Rocking Horse winner
Kennecott Canada Exploration has discovered a new kimberlite body on the Rocking Horse property, northwest of the Jericho region in the Nunavut Territory.Rocking Horse is one of three properties in wh…
Richmont posts modest quarterly loss
Low gold prices are taking their toll on Richmont Mines (RIC-T), a Montreal-based gold miner with operations in Quebec and Newfoundland.The company posted a loss of $517,685 (or 3 cents per share) on …
METAL PRICES (May 17, 1999)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateMay 11May 10May 7May 6…
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — UK gold sales scuttle month-long rally
Britain’s central bankers added to gold’s woes during the May 5-11 report period by announcing that they would sell 125 tonnes (4 million oz.) of the country’s 715-tonne gold stockpile during fiscal 1…
EDITORIAL & OPINION — ODDS ‘N’ SODS — Drawn out days
The following is the fourth in a series of articles in which the author, an exploration geologist based in Delta, B.C., recounts his experiences working in the jungles of Venezuela in the late 1980s a…
Ashanti posts record quarter
West Africa’s largest gold miner, Ashanti Goldfields (ASL-T), achieved record production in the first quarter, while, at the same time, reducing cash costs to below what they were a year ago.The 402,1…
Cameco enters deal with Cogema Resources
For $243 million and a pretax gain of about $63 million, Cameco (CCO-T) has sold interests in three uranium projects in northern Saskatchewan to French government-owned Cogema Resources.Cogema acquire…
Ashton finds more micros in new Buffalo Hills pipes
Microdiamond analyses of samples from four new kimberlite pipes found in the Buffalo Hills region of northern Alberta have determined that three of the pipes are diamondiferous.Ashton Mining of Canada…