Canabrava drills for diamonds
Canabrava Diamond (CNB-V) is set to begin a first-phase drill program to test newly discovered kimberlites on the company’s Whitefish Lake property, 25 km northeast of Wawa, Ont.The property consists …
Articles by Northern Miner Staff
Diamonds recovered from Tuzo — Summer program planned for neighboring Doyle Lake project
The Tuzo kimberlite pipe on the AK property in the Northwest Territories has returned positive mini-bulk sampling results.De Beers Consolidated Mines (DBRS-Q) subsidiary Monopros recovered 108 carats …
FINANCINGS — New Claymore funds Buffalo Hills exploration
New Claymore Resources (NCS-V) has agreed to a brokered private placement of up to 1 million units at $1.60 each, for gross proceeds of up to $1.6 million.Each unit will consist of one common share an…
Rayrock Yellowknife wraps up takeover of Minera Rayrock
Rayrock Yellowknife Resources (RAY-T) has succeeded in its bid to take over affiliate Minera Rayrock (MRN-T).Rayrock, a Toronto-based gold and copper producer, had held a 37.5% interest (19.1 million …
William Resources sinks deeper into red
Despite having boosted overall gold production in 1997, William Resources (WIM-T) ended up deeper in the red.The mid-tier gold producer lost $77.5 million (or $1.58 per share) on revenue of $94 millio…
Discovery made in Peru — Juniors buoyed by “trespass” drilling
It isn’t often that a junior company is pleased when a major company trespasses on its property to drill a few holes.But Nicholas Tintor, president of New Inca Gold (NIGL-C), says he is “extremely ple…
First Dynasty sells Armenian gold
Singapore-based First Dynasty Mines (FDM-T) has exported its first shipment of gold dorefrom the Ararat tailings project in western Armenia.A total of 312 oz. gold was sent to a refinery in the United…
DiamondWorks to return to Koidu
With pro-government forces now in control of the area surrounding the Koidu diamond concession in eastern Sierra Leone, DiamondWorks (DMW-T) is planning its return.At an annual meeting held recently i…
GOLD FUNDS (June 01, 1998)
Gold Funds as of May 21, 1998BGRCentralNet Value$15.58$5.95Price$11.85$5.
NEW HORIZONS — Gold and medical research
The ability of gold atoms to stick together even when beaten into gossamer-thin layers has been known since ancient Egyptian times. Now, researchers have produced an even thinner layer of gold — no t…
LETTER TO THE EDITOR — Planning for Canada’s mining future
We appreciate your compliments in a recent editorial (“Congratulations, CIM,” T.N.M., May 4-10/98). In our centennial year, the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) is indeed p…
MINING MARKETS & INVESTMENT NEWS — QUERY — Casmyn digs itself into a deep hole
I am a shareholder of Casmyn, a company traded on the Nasdaq Bulletin Board. The shares of the stock went from around US$4 to a few cents in a couple of months. The company issued a statement in Febru…