Sale of assets helped Westmin in ’96
A one-time gain of $62.7 million from the sale of coal assets enabled Westmin Resources (WMI-T) to post net income of $21.3 million for 1996 on revenue of $100.8 million.By comparison, the company ear…
News
Queenstake Res. arranges private placement
Queenstake Resources (QTR-T) will use the proceeds from a $16.4-million private placement to fund exploration and development of its properties in Chile, and elsewhere in Latin America.The financing c…
Link confirms silver-gold veins
Drilling on Link Minerals’ (LMVL-C) Hombre Libre concession in Honduras has confirmed the existence of vein-hosted silver-gold mineralization.The 18-hole program tested three separate target areas — …
Agnico fails to repeat banner year
While Agnico-Eagle Mines (AGE-T) didn’t lose money in 1996, it nonetheless experienced a steep drop from the profit levels experienced in the previous year.The company reported net income of $300,000 …
COMMENTARY — Silver inventories could fall
The silver market in 1996 was much tighter than expected. A rise in mine production was offset by declining supply from government sales. As a result, the total supply of newly refined silver in the m…
More work for Petaquilla
Having kissed and made up after a short-lived dispute over a feasibility study, Adrian Resources (ADL-T), Teck (TEK-T) and Inmet Mining (IMN-T) have signed an agreement for the development of the Peta…
Guyana Goldfields drills Peters mine
Drill results are in hand from the first few holes of an ongoing program at the Peters mine property in Guyana, reports operator Guyana Goldfields (GGFI-C).Hole 1 returned 30 ft. grading 0.059 oz. gol…
Newmont reports boost in reserves
A global exploration effort has enabled Newmont Gold (NGN-N) to boost its gold reserves for the sixth consecutive year.The company ended 1996 with 37.1 million equity ounces of proven and probable res…
Trenching results impress at Dunkwa play
Encouraging trench results are reported from the southern portion of the Dunkwa gold property in Ghana.Ownership of Dunkwa is shared by Birim (90%) and the Ghanaian government (10%). Battle Mountain C…
THE DIAMOND PAGE — Dia Met forms Venezuelan partnership for alluvial property
Dia Met Minerals (DMM-T) is forming a joint venture in Venezuela to look for the hard rock source of diamonds on an alluvial property there.The Kelowna, B.C.-based company will join forces with the Ve…
THE DIAMOND PAGE — Sonora completes plant expansion at South African diamond mine
By April, Sonora Gold (SON-T) expects to have reached design capacity at the Klipdam diamond mine in the Kimberley-Barkly West area of South Africa.Once this is achieved, the mine is expected to produ…
TSE INDICES (March 03, 1997)
1997Feb 25Feb 24Feb 21Feb 20Feb 19HighLowComposit…