Ag Armeno takes up option on Batu Hijau
In an agreement with Indonesian industrialist Jusuf Merukh, Ag Armeno Mines & Minerals (AGM-V) has taken an option to buy an 18% interest in the Batu Hijau gold deposit on Sumbawa Island in Indonesia….
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Borneo Gold begins drilling at Bunut
Toronto-based Borneo Gold (BNO-V) has begun an initial 5,500-metre diamond drilling program at its Bunut gold project in West Kalimantan, Indonesia.The company holds a 90% interest in a seventh genera…
Oroperu looks to enhance Nueva Condor
Oroperu Resources (OROP-C) has reported encouraging operating results from its recently acquired Nueva Condor polymetallic mine, near Lima, Peru.The operation entered production in early 1998 and earn…
Laramide finances program
Toronto-based Laramide Resources (LAM-T) will finance exploration work on its Bilbao polymetallic property in central Mexico by drawing on funds raised in a private placement.Proceeds of $300,000 will…
GREATES VALUE TRADED, May 27-June 2
ExchgVal($000s)HighLowCloseChangeBarrick GoldT167…
Partners start work program at Free Maria
Operator Cambior (CBJ-T) and equal joint-venture partner MacMillan Gold (MMG-T) have begun an exploration program at the Free Maria gold project, situated in the Huamacucho area of north-central Peru….
GEOLOGY 101 — Diamond deposits, Pt. 2
Diamonds fall into one of four categories. They are, in order of decreasing value: gem, near-gem, industrial and boart. Individual diamonds are measured in carats (1 carat equals 0.2 gram), whereas th…
MINING MARKETS & INVESTMENT NEWS – MERGERS & ACQUISITIONS — Indocan acquires Prodigy
Toronto-based Indocan Resources (IDCN-O) has wrapped up its acquisition of Prodigy Resources.The deal was sealed upon the issue by Indocan of 15 million new shares to Prodigy shareholders. Indocan has…
MINING MARKETS & INVESTMENT NEWS – MERGERS & ACQUISITIONS — Rayrock Yellowknife draws finance arm and Minera into fold
Pursuant to its takeover of an affiliated company, Rayrock Yellowknife Resources (RAY-T) has amalgamated Irish-based subsidiary Rayrock International Finance.Both Rayrock International Finance and Min…
Prime shareholders unhappy with Homestake bid
Concerned that Homestake Mining (HM-N) has made a low-ball bid for the 49.4% interest of Prime Resources Group (PRU-T) that it does not already own, several shareholders spoke out against the offer at…
Gitennes steps out on Alumbre
Stepout drilling on the Alumbre zone continues to suggest to Gitennes Exploration (GIT-T) the existence of significant exploration upside on the Virgen property in north-central Peru.The company relea…
Black Hawk completes Triton merger
The merger deal between Triton Mining (TTM-T) and Black Hawk Mining (BHK-T) has closed.The two companies had agreed earlier this year to amalgamate, share-for-share, with Triton becoming Black Hawk’s …