MOST ACTIVE ISSUES (November 09, 1998)
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Articles by Northern Miner Staff
MINING MARKETS & INVESTMENT NEWS — Anglogold tenders bid for Minorco’s gold assets
The world’s largest gold producer, Anglogold (AU-N), has submitted a tender offer for the gold assets of Minorco (MNRCY-Q).The acquisition would add nearly 10 million oz. to Anglogold’s reserve base p…
GOLD FUNDS (November 09, 1998)
Gold Funds as of October 29, 1998BGRCentralNet Value$14.176.11Price$10.50…
MINING MARKETS & INVESTMENT NEWS — NEWS ROUNDUP — Inmet awaits tungsten mine cash
Inmet Mining (IMN-T) will have to wait until the end of November to collect the $48 million it is owed for selling its Austrian tungsten subsidiary, Wolfram Bergbau-und Hutten (WBH).The private Europe…
MINING MARKETS & INVESTMENT NEWS — NEWS ROUNDUP — Mitch halts production at Limon
The Limon gold mine in Nicaragua has been shut down following the widespread devastation caused by Hurricane Mitch.The suspension is expected to last two weeks as owner Black Hawk Mining (BHK-T) clean…
MINING MARKETS & INVESTMENT NEWS — NEWS ROUNDUP — Taurus terminates agreement
Vancouver-based International Taurus Resources (ITS-V) has cancelled its agreement with American Copper (ACC-V) to explore and develop the Lyon gold property in Yerington, Nev.Taurus intends to contin…
GREATEST VALUE TRADED (November 09, 1998)
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Writedown costs Denison third-quarter profit
Denison Mines (DEN-T) posted a loss of $10.4 million (3 cents per share) for the third quarter, following a writedown of $11.5 million on unsuccessful offshore oil drilling in the Mediterranean Sea.Th…
MINING MARKETS & INVESTMENT NEWS — NEWS ROUNDUP — BHP, Golden Star exces come and go
After a global search, Broken Hill Proprietary has appointed Paul Anderson managing director and chief executive officer. A management shakeup at the Australian-based resource conglomereate had been e…
Elkhorn gets boost
Treminco Resources (TMO-T) has received an updated resource estimate for the Elkhorn gold project in Montana.The Canadian subsidiary of Mineral Resource Development Inc. (MRDI), a division of H.A. Sim…
Summo confirms grades at Johnson
Junior Summo Minerals (SMA-T) reports that exploration drilling at the dormant Johnson Camp mine in Arizona has confirmed the thickness and grade of the Copper Chief deposit.Results from eight infill …
Noranda maintains strong balance sheet — Major’s restructuring program to focus on mining, metals
Like its competitors, Noranda (NOR-T) experienced drops in third-quarter earnings and revenue as a result of low metal prices.In the three months ended Sept. 30, the company earned $22 million (or 7 c…