Ashanti to increase African property portfolio
In an effort to increase its gold production in Africa, Ashanti Goldfields has announced plans to acquire Toronto-listed International Gold Resources (IGR).IGR’s principal asset is the right to acquir…
News
METALS COMMENTARY — Changes are expected in cost structure of the nickel industry, study says
A recent study by mining and metal consultants Brook Hunt suggests the cost structure of the nickel industry will be “dramatically altered” by the end of the decade when the significance of the Voisey…
AMT raises funds for copper project
Toronto-listed AMT International Mining has closed an initial public offering of 6.5 million units priced at $1 per unit.Each unit consists of one AMT common share and one AMT common share purchase wa…
Arequipa readies for Peruvian drilling
In preparation for drilling at the Pierina gold project in north-central Peru, Arequipa Resources (TSE) has completed the first 1.8 km of a 5-km access road.Meanwhile, underground sampling of a tunnel…
Ashton begins drilling at Cross
Ashton Mining of Canada (TSE) is proceeding with a drilling program on its Cross property, in the southwestern region of the Northwest Territories’ Slave province.Work carried out there in 1995 led to…
FINANCING (April 01, 1996)
Stampeder Exploration — 10,000,000 shs @ $5.00 per sh.
NEWS IN BREIF
Minerva Gold Mines (MVM:VSE) has changed its name to Consolidated Minerva Gold Mines (MNV:VSE) on a 1-new-for-3-old-share basis.
Stroud confirms extensions at Leckie
A drill program at the Leckie property near Temagami, Ont., has extended the strike length of the known gold mineralization to 365 from 330 metres.Ten diamond drill holes intersected mineralization wi…
No Headline (April 01, 1996)
RemingtonCreek Resources (RCR:VSE) has changed its name to Grayd Resource (GYD: VSE) on a 1-new-for-3-old-share basis.
GOLD FUNDS (April 01, 1996)
Gold Funds as of March 21, 1996BGRCentralNet Value$23.04$6.83Price$19.00$7.000Discount17.53%2.5%Value$180,132,000$126,695,100…
Cristinas start hinges on mining law
Though a feasibility study at the Cristinas project in Venezuela is projecting yearly output at 450,000 oz. gold at an average cash cost of US$205 per oz., Placer Dome (TSE) is waiting to schedule con…
Feasibility leads to mine reopening
Results from a feasibility study of the OK copper mine near Milford, Utah, suggest that a reopening would be viable.The use of solvent extraction-electrowinning would enable the mine to produce about …