Lonmin makes offer for Ashanti Goldfields
Lonmin has come through with a merger offer for troubled Ashanti Goldfields (ASL-N), valuing the Ghanaian gold miner at US$820 million.The London-based platinum producer was offering 0.744 share for e…
News
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Stocks decline as spot gold settles to US$320 per oz.
After several weeks of excitement, gold started to settle down during the holiday-shortened Oct. 6-12 report period, with spot prices restricted to within the US$315-325-per-oz. range. Over the week, …
Rock to re-drill Chilean copper prospect
Although no significant mineralization was encountered in last year’s limited drilling on the Coiron property in the Chilean Andes, a re-interpretation of the data from a subsequent induced-polarizati…
Hot values intersected at Silvertip
Peruvian Gold (PVO-V) and Imperial Metals (IPM-T) have encountered encouraging silver-zinc-lead values at their jointly held Silvertip project in northern British Columbia.The second hole of a 3-hole …
Sulliden ready to drill at Santo Toribio in Peru
Promising early results from the Santo Toribio project in Ancash department in west-central Peru offer Sulliden Exploration (SUE-M) hope it can imitate a nearby success story.Santo Toribio is about 7 …
Minefinders boosts Dolores (October 18, 1999)
Toronto-listed Minefinders (MFL-T) has arrived at a new resource estimate for its wholly owned Dolores gold-silver property in Mexico’s Chihuahua state.Using a cutoff grade of 0.3 gram, Minefinders ou…
MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — VSE quiet during short trading week
The Vancouver Stock Exchange composite index lost 2.01 points, or 0.5%, to close at 420.62 over the holiday-shortened report period ended Oct. 12. The mining index followed suit by dipping 2.21 points…
Navigator closes $1m financing
Junior Navigator Exploration (NVR-A) has completed a $1-million private placement consisting of 4 million units priced at 25 cents each.A unit consists of one share and one warrant entitling the holde…
DIAMOND PAGE — Kimberlite sill outlined
Drilling at the Back Lake diamond project, 100 km south of Lac de Gras in the Northwest Territories, has traced the Munn Lake kimberlite sill for 1.3 km along strike.Partners Island-Arc Resources (IAR…
Romarco buoyed by Goldfield results
Initial drilling at the Goldfield project in southwestern Nevada has returned encouraging results for Romarco Minerals (R-T).The company drilled 77 holes (33,865 ft.) at the 15,000-acre property in a …
Romania updates mining law
In 1998, as part of an effort to revive its struggling economy, the government of Romania enacted a new mining law. The statute allows both foreign and Romanian entities to obtain exploration and expl…
Careers (October 11, 1999)
Endako MinesBag 4001, Fraser Lake, B.C. V0J 1S0…