Goldtex Resources, Canadian Mountain to merge
Talks between Canadian Mountain Minerals (CYM-A) and Goldtex Resources (GXR-A) have led to an agreement that will see the two companies merge.The merger agreement has yet to be approved by shareholder…
News
Homestake ceases underground mining — ‘Substantial loss’ at mine prompts company to get house in order
For only the second time in its 122-year history, the Homestake gold mine near Lead, S.D., has ceased production from underground.Homestake Mining (HM-N) stated, however, that after a dramatic restruc…
Breakwater nixes Bolivian zinc deal
Breakwater Resources (BWR-TWR-T) is scrapping its plans to buy a controlling interest in Bolivian zinc producer Minera.The company attributes the decision to delays caused by Minera’s failure to restr…
GREATEST VALUE TRADED, Jan. 21-27
ExchgValue(000’s)HighLowCloseChangeBarrick GoldT3…
Kinross sees cost reductions ahead
With gold prices still mired around US$300 per oz., speculation is growing that some companies will not be able to survive a prolonged period of depressed prices. Kinross Gold (K-T), fully aware that …
Noranda deal
ignites takeover talkNoranda (NOR-T) has agreed to sell its interest in Norcen Energy Resources Group to U.S.-based Union Pacific Resources Group for $1.8 billion in cash.Noranda owns 92.6 million sha…
AFRICA — NEWS ROUNDUP — Junior seeks diamonds
An agreement with Auridiam Botswana Proprietary sets the stage for M.I.T.Ventures (MVC-V) to earn up to a 60% interest in a diamond concession in northern Botswana.The concession contains five known k…
AFRICA — NEWS ROUNDUP — Ashanti advances Tera
A second-phase program by Ashanti Goldfields (AHD.U-T) will continue to test the Tera gold project in Niger.The African gold producer holds rights to earn 51% of Carlin Resources’ (CLM-V) 90% interest…
AFRICA — New plant for Hymex
Hymex Diamond (HMD-V) has installed an alluvial plant at its Diani diamond project in Guinea, West Africa.The junior says the plant is capable of handling 300 tons of diamondiferous gravel per hour, w…
AFRICA — Ace eyes Oboum play
A subsidiary of Vancouver-based Ace Development (AE-V) has signed an agreement allowing Johannesburg Consolidated International (JCI) to earn up to a 60% interest in the company’s Oboum licence in Gha…
AFRICA — Adikann seeks partners for projects
Low gold prices and a lack of investor interest in junior mining stocks have prompted Adikann Goldfields (ADK-V) to seek potential partners to explore its land holdings in Ghana.According to the cash-…
AFRICA — Easton discovers PGMs
Grass-roots exploration by Easton Minerals (em-v) in southwest Angola has led to the discovery of anomalous platinum and palladium, as well as three outcrops bearing sulphide mineralization.The junior…