Royal Oak boosts output
Record gold production of 318,171 oz. in 1994 generated $33.2 million in operating cash flow for Royal Oak Mines (TSE). Net earnings for the year amounted to $22.1 million on revenue of $162.1 million…
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Sikaman boosts stake in projects
Toronto-based Sikaman Gold Resources (TSE) has concluded negotiations with Cormine S.E.P. to acquire a 100% interest in the Neuquen and Cerro Mayal gold projects in the province of Neuquen, Argentina….
LATIN AMERICA SPECIAL — Metates poses challenges for project
The Metates gold deposit in Mexico’s Durango state hosts a preliminary inventory of more than 200 million tonnes grading 1.2 grams of gold equivalent per tonne. Gold and silver account for about 80% a…
METALS COMMENTARY — Demand for metals strengthens
During the first half of March, metal markets shrugged off the downturn in prices that afflicted them in February. Physical demand for all metals was even stronger as processors took advantage of the …
LATIN AMERICA SPECIAL — Regeena optioning Chilean property
A letter of intent has been signed between La Serena Copper-Gold S.A. and Regeena Resources (VSE), which allows the latter to obtain an option to earn a 70% interest in La Cucaracha, a copper-gold pro…
LATIN AMERICA SPECIAL — Breakwater boosts El Mochito
Underground exploration at Breakwater Resources’ (TSE) El Mochito mine in Honduras has led to a 24% boost in minable reserves. Drilling of the five active mining zones in the second half of 1994 resul…
LATIN AMERICA SPECIAL — Yamana outlines gold targets in
Field crews have identified several gold targets on Yamana Resources’ (TSE) holdings in the Vanguardia district of Santa Cruz province in southern Argentina. An epithermal alteration system exceeding …
TVX buys Greek properties
Toronto-based TVX Gold (TSE) has paid about US$47 million for Greek-based Kassandra Mines. The company’s assets, situated on the Chalidiki peninsula in northeastern Greece, include mining concessions …
Cogema, partners approve McClean Lake uranium mine
Having received approval for development from federal and provincial governments, Cogema Resources has decided to proceed with the McClean Lake uranium project in Saskatchewan. The company and its par…
Almaden plans work for Rose
Once its partner completes an initial public offering on the Alberta Stock Exchange, Almaden Resources (VSE) plans to perform more exploration on its Rose gold-silver project near Summerland, B.C. Lau…
East Africa Gold negotiates placement
Vancouver-listed East Africa Gold has concluded negotiations for a private placement of up to 1.8 million units at $1.35 each. A unit consists of a share and a warrant entitling the holder to buy an a…
LATIN AMERICA SPECIAL — Swannell Minerals conducts
A preliminary US$200,000 exploration program is nearing completion on the Rio Tinto copper oxide property in the Mexican state of Chihuahua. Operator Swannell Minerals (VSE) can earn a half interest i…