News

Costs at Eldorado Gold‘s (ELD-T) Kisladag project in western Turkey are being hampered by the effects of value-added tax (VAT).

High River Gold (HRG-T) incurred a $17 million loss for 2003, most ($14 million) of which is attributed to a writedown on the company’s share of the New Britannia mine in Manitoba. The mine is slated for closure later this year.

Drilling is ongoing at the Norman 2000 and Norman North copper-nickel deposits in the Sudbury area of Ontario, where FNX Mining (FNX-T) and Dynatec (DY-T) are preparing to begin feasibility work.

Reverse-circulation drilling by Golden Star Resources (GSC-T) at the Mininko property in southern Mali has proved mineralization at depth below known surface gold occurrences.

Vancouver — An agreement with several Chinese agencies gives Minco Mining & Metals (MMM-T) the right to earn up to a 51% interest in the Changkeng gold deposit in Guandong province.

Insider trading transactions reported in May 2004 Ontario Securities Commission Bulletin include the following:…

Toronto-based African Gold Group (AGG-V) has kicked off a 10,000-metre program of diamond drilling as part of a US$2.4-million first round of exploration at its 108-sq.-km Mankranho concession in Ghana.

SouthernEra Resources (SUF-T) has been awarded 41 diamond exploration permits covering 13,000 sq. km in the Democratic Republic of Congo (DRC).

Vancouver — A buoyant market for metallurgical coal is making it easy for Western Canadian coal companies to place new mines into production. The list includes the Willow Creek coal mine, scheduled to begin operations later this summer.

Pacific North West Capital (PFN-T) has intersected significant platinum-palladium mineralization in the Varley zone on its River Valley project, 65 km northeast of Sudbury, Ont.

Lundin Group company South Atlantic Ventures (SAA-V) has priced the share offering that will finance its purchase of the Zinkgruvan zinc mine in Sweden from Rio Tinto (RTP-N).