Earnings rise for Teck and Cominco
The sale of its 10.8% stake in Diamond Fields Resources saw the 1996 net earnings of Teck (TEK-T) jump by almost 184% over the previous year.The Vancouver-based major reported net earnings of $255 mil…
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N.A. Tungsten expands its base of mineral assets
Vancouver-based North American Tungsten (NTC-V) can acquire the tungsten assets formerly held by Canada Tungsten, which was recently merged with Aur Resources (AUR-T).These assets include:* the former…
Stratabound establishes Mexican presence
Junior Stratabound Minerals (SB-A) will buy a polymetallic property in northeastern Mexico.Situated near the city of Monclova in Coahuila state, the property is accessible by paved highway and gravel …
Espalau Mining samples gold prospects in Ecuador’s El Oro province
Channel sampling by Espalau Mining (EPU-M) at the Paraiso joint venture in Ecuador’s El Oro province has uncovered high gold values.The Val d’Or, Que.-based company can earn a half interest in the pro…
Monarch expands reserves at Camorra mine in Venezuela
Exploration programs in 1996 enabled Monarch Resources (MRE-T) to boost reserves at its Venezuelan gold mine known as La Camorra.At the same time, the company achieved record gold production of 56,549…
Geomaque boosts output from Mexican mine
In January, Geomaque Explorations (GEO-T) reached a new production record at its San Francisco gold mine in Mexico’s Sonora state.The open-pit, heap-leach operation cranked out 5,142 oz., representing…
LITERATURE REVIEW — Newmont sets new production record at Carlin operations
Gold production during 1996 reached 2.3 million oz., setting a new record for Newmont Gold (NGC-N) and parent Newmont Mining (NEM-N).Newmont Gold earned US$94 million last year while Newmont Mining, w…
LITERATURE REVIEW — Guyanese and Canadian production land Cambior back in the black
Expansion of the Omai mill in Guyana, along with increased production from the Bouchard-Hebert mine in Quebec, enabled Cambior (CBJ-T) to report improved cash flow and earnings in 1996.The Montreal-ba…
LITERATURE REVIEW — Echo Bay writes down past to focus on its mining future
The writeoff of the Alaska-Juneau gold project took its toll on the 1996 earnings of Colorado-based gold producer Echo Bay Mines (ECO-T).The company reported a net loss of US$69.6 million before speci…
LITERATURE REVIEW — KazMinCo, Aranlee enter Kazakstani properties deal
A deal with a subsidiary of Kazakhstan Minerals (KMU.U-T) will allow Aranlee Resources (ARB-V) to acquire 10 mineral properties covering 9,7000 sq. km in central Kazakstan.Aranlee will acquire the pro…
LITERATURE REVIEW — Cameco reports record earnings
A general improvement in world uranium markets enabled Cameco (CCO-T) to report record earnings of $138 million last year — a 35% increase from earnings of $102 million reported in 1995.Revenues doub…
Omni hits gold at Goddell Shear
Underground drilling at the Goddell Shear project in the Mount Skukum area of southern Yukon is returning some noteworthy intercepts.Omni Resources (ORI-V) reported results from four holes, which were…