Patrician picks up Argyle
Patrician Gold Mines (PXX-A) has acquired ground near the past-producing Ashley gold mine in an area 25 km west of Matachewan, Ont.The junior acquired a full interest in the 2,198-ha property, named A…
News
Hecla holds the line on production costs
Low silver and gold prices are taking their toll on Hecla Mining (HL-N), despite ongoing efforts to reduce production costs at mines in North and South America.The Idaho-based company reported a net l…
Miramar conserving capital
Miramar Mining (MAE-T) made a profit of $1.6 million in the third quarter, compared with a loss of $15.2 million in the corresponding period of 1997.The recent quarterly performance reflects a gain of…
Reserve figure grows at Taylor
A new resource estimate for the Taylor property west of Matheson, Ont., puts the indicated and inferred resource in the three known mineralized zones at 3.1 million tonnes grading 10.3 grams gold per …
DIAMOND PAGE — Monopros launches winter program on AK property
De Beers Consolidated Mines (DBRS-Q) has given the green light to a $14-million bulk-sampling program on the AK diamond property in the Northwest Territories.Monopros, the exploration arm of De Beers,…
DIAMOND PAGE — Partners recover diamonds from Jericho
The newly discovered Contwoyto-1 kimberlite in the Greater Jericho area of the Northwest Territories has yielded encouraging diamond counts for partners Lytton Minerals (LTL-T) and New Indigo Resource…
Asarco to take US$45m charge
New York, N.Y.-based Asarco (AR-N), which lost more than US$15 million in the third quarter, says it will take a US$45-million charge in the fourth quarter.The charge is intended to cover the costs as…
Azimut options more ground in Quebec
Two separate option agreements set the stage for Azimut Exploration (AZM-M) to earn interests in the Joutel and Malartic gold properties in Quebec’s Abitibi camp.To earn a 50% interest in the Joutel p…
Gitennes to sell flagship property in Peru to Cambior
Cambior (CBJ-T) will become the new owner of Gitennes Exploration’s (GIT-T) flagship property in Peru under the terms of a proposed option agreement between the two companies.In exchange for cash paym…
Rio Tinto cuts copper in Peru
A hole drilled on the Aguila concession in north-central Peru has intersected 400 metres of mineralization grading 0.63% copper and 0.04% molybdenum, as well as 0.04 gram gold and 1.9 grams silver per…
MINING MARKETS & INVESTMENT NEWS – INSIDER TRADING — Diadem execs nab options
Insider trading transactions recently reported in the OSC Bulletin, published by the Ontario Securities Commission, include the following:Diadem Resources (DIR-M) — Michael Bird, officer, was granted…
MINING MARKETS & INVESTMENT NEWS – EASTERN MARKETS — TSE cushioned by merger mania, producers take cover
Gold producers, base-metal companies edge downward in lacklustre week The Toronto Stock Exchange 300 index fell 113.13 points during the report period Nov. 25-Dec. 1, ending the week at 6,457.14. Trad…