CORRECTION (February 01, 1999)
The reserve figure quoted for the Glimmer mine in our Jan. 18 issue was incorrect. The mine, situated in northeastern Ontario, has reserves of 1.3 million tonnes grading 10.3 grams gold per tonne, plu…
News
AFRICA — De Beers ensures Botswana’s place atop rough diamond sector
The Orapa mine in Botswana is in the midst of a US$400-million expansion project aimed at boosting annual production to 12 million carats. Consequently, the mine life will be halved to 30 from 60 year…
GOLD FUNDS (February 01, 1999)
Gold Funds as of January 21, 1999BGRCentralNet Value$14.015.90Price$9.25$…
AFRICA — Fighting in Sierra Leone foils Nord’s production efforts
Nord Resources (NRD-N) has broken off negotiations with the government of Sierra Leone for the reopening of the Sierra Rutile operation after a rebel offensive on the capital city of Freetown plunged …
Armistice board survives
Dissident shareholders of Armistice Resources (ACI-M) have failed in a bid to unseat the board of directors at the company’s annual meeting.The dissidents, led by Gordon Usher-Jones and Mark Diamond, …
Kinross amends offer
The terms of a previously announced merger between Kinross Gold (K-T) and La Teko Resources (LAO-T) have been amended.Under the revised terms, La Teko shareholders will receive one Kinross share in ex…
Sirios funds work at Aquilon
Following an infusion of cash, Sirios Resources (SOI-M) is gearing up for a 10-hole, 1,500-metre drilling program at its Aquilon gold property in the James Bay region of northern Quebec.In late Decemb…
Fort Knox adds to holdings
In another Newfoundland cash-and-shares deal, junior explorer Fort Knox Gold Resources (FNX-T) has taken an option on a gold exploration property 60 km north of Gander.The agreement gives Fort Knox th…
AFRICA — Tri-Star buys back old Minorca interests in Africa
Following its October merger with Minorca Resources, McWatters Mining (MCW-T) has moved to shed Minorca’s West African interests.Tri-Star Gold (TSG-V) has bought back the interests Minorca held in 13 …
AFRICA — Jean-Gobele at feasibility
Determined to bring its gold deposit into production by the end of the year, Semafo (SMF-T) has engaged a consultant for a final feasibility study at the Jean-Gobele project in eastern Guinea.RSW-Bero…
AFRICA — Sadiola Hill mine cracks half-million-ounce barrier
Higher-than-expected mill capacity allowed Iamgold (IMG-T) and its South African-based partner, Anglogold (AU-N), to produce more than half a million ounces from the Sadiola Hill gold mine in western …
AFRICA — Sutton advances Bulyanhulu — Mining costs projected at US$45-59 per ton
Sutton Resources (STT-T) has appointed Standard Bank London to arrange US$130 million in project financing for the Bulyanhulu gold project in Tanzania.Standard Bank will underwrite US$40 million and a…