Pan American adds to silver holdings
Toronto-listed Pan American Minerals is expanding its silver interests by purchasing a minority interest in Compania Minera Las Torras from a subsidiary of Homestake Mining (NYSE). The Mexican company…
News
Lower earnings for FMC Gold
New York-listed FMC Gold reported net income of US$600,000 for the recent fourth quarter, down $2.5 million from the same period last year. The closure of the Paradise Peak mill in Nevada and the Roya…
Falco results signal turnaround
Higher nickel prices and increased output enabled Falconbridge (TSE) to post solid results for both the fourth quarter and the past year. For the quarter, the company earned $81.4 million (or 46 cents…
ITEC to expand plant facilities
A subsidiary of St. Genevieve Resources (TSE), ITEC-Mineral, has determined that it can recover economic quantities of precious metals from tailings at its Norbec-Manitou mill in Val d’Or, Que. The su…
NEWS ROUNDUP — Bethlehem merging with Imperial
Two TSE-listed exploration companies, Bethlehem Resources and Imperial Metals, will merge. Bethlehem shareholders will receive one share of Imperial for every three shares tendered, or 50 cents in cas…
Freewest to drill Bathurst properties
Junior Freewest Resources (TSE) will drill two properties in the Bathurst camp of northern New Brunswick. High-grade massive sulphide boulders were discovered on the Willett property in 1975. Freewest…
NEWS ROUNDUP — New Finnish gold project
The Swedish-Finnish company Terra Mining Oy will open a gold mine in Pahtavaara in Finnish Lapland, where production will begin in about one year. The mine will employ 50 people and require an investm…
Sutton evaluates Kabanga
A preliminary economic evaluation on the Kabanga nickel-cobalt sulphide deposit in Tanzania has returned positive results for Sutton Resources (VSE) and BHP Minerals. BHP can earn a 58% working intere…
Murgor drilling
The first hole drilled on Murgor Resources’ (VSE) 14-claim Barry Twp. gold property in northwestern Quebec has intersected a 34-metre wide mineralized zone. Although assays are pending, the company re…
Noranda spending $20-m at Gaspe
For the second time in as many weeks, a unit of Noranda (TSE) is investing funds to develop a new ore deposit. Noranda Mining & Exploration (NM&E) will spend $9.5 million over the next two years to de…
Cathedral ups stake in Sterling
TSE-listed Cathedral Gold will increase its ownership in the Sterling gold mine to 90% from 52%. The company negotiated the purchase of Saga Exploration’s 38% interest for a total cash consideration e…
TVI forges ahead at Canatuan
With a cash payment of $2 million, TVI Pacific (ASE) has acquired the 5,000-hectare Canatuan property in the Philippines. Situated on the western tip of Mindanao Island, the polymetallic property host…