GOLD FUNDS (November 18, 1996)
Gold Funds as of November 7, 1996BGRCentralNet Value$22.70$6.06Price$17.90…
News
PEOPLE — COLERAINE MINING
Gratien Gelinas appointed president.
Westmin reports third-quarter loss
Lower copper prices and higher operating and exploration costs contributed to a $6.2-million loss for Westmin Resources (WMI-T) during the third quarter.The loss (equivalent to 12 cents per share) com…
Ambrex to start work program at Trairao in Brazil
With a preliminary resource figure calculated at its Aripuana project in Mato Grosso state, Brazil, Ambrex Mining (AMBX-C) is preparing to start work on a second prospect, the Trairao property.Trairao…
Hecla to shut down Grouse Creek mine
Having been deemed uneconomic at current gold and silver prices, the Grouse Creek mine will be closed next year.Operator Hecla Mining (HL-N), which owns 80% of the Idaho project, is currently mining o…
High River raises funds for gold projects in Siberia
The Russian gold mining company Buryatzoloto and its partial owner, High River Gold (HRG-T), have arranged financing to develop three gold mines in Buryatia, Siberia.The mines, known as Zun-Holba, Bra…
Tri Origin resumes Australian drilling
Junior Tri Origin Resources (TOE-T) has begun a 10,000-metre drill program on its fully owned Lewis Ponds polymetallic property in New South Wales, Australia.The program is intended to expand resource…
Roycefield advances Beaver Brook
With the mining lease now secure, Roycefield Resources (RYC-T) is well on its way to bringing the Beaver Brook antimony property into production. The company hopes to start production during the middl…
Homestake gains foothold in Alaska
The acquisition of two exploration properties in the Fairbanks district marks Homestake Mining’s (HL-N) first foray into Alaska.The major entered into an agreement in principle with Silverado Mines (G…
Royal Oak closing Hope Brook
Royal Oak Mines (RYO-T) will close the Hope Brook gold mine in southwestern Newfoundland next year and relocate the mill and mine equipment to its Matachewan gold project in Ontario.Hope Brook’s reser…
St Andrew boosts reserve at Taylor
Based on new results from the Taylor Twp. gold property in northeastern Ontario, St Andrew Goldfields (SAS-T) hopes to double possible reserves in one zone.One of the holes drilled in the West Porphyr…
Mining costs now available on net
The Internet’s world-wide web features free mining cost analyses and related data through a service provided by U.S.-based Western Mine Engineering.The new web site is designed to provide data related…