Gencor, Lonrho make CIS plans
South African mining house Gencor and British-based mining group Lonrho are setting up a joint company to develop gold mines in the former Soviet Union. The new company will be equally owned and will …
News
Drilling under way on Grizzly zone
Further drill-testing of the Grizzly zone is in progress at the Golden Bear mine property in northwestern British Columbia. Owner North American Metals (VSE) plans to drill 4,200 metres in a 31-hole p…
Cream Minerals starts anew
With a one-for-five roll-back now behind it, Cream Minerals (VSE), formerly known as Cream Silver Mines, is ready to start anew. The company recently arranged a private placement of 400,000 units at 3…
NEWS ROUNDUP — Dakota drills Gilt Edge mine
Reverse-circulation drilling has wound down on Dakota Mining’s (TSE) Gilt Edge gold mine near Deadwood, S.D. The 9,475-ft. program was aimed at extending the Anchor Hill orebody. As of December, 1993,…
NEWS ROUNDUP — Asarco, Coeur d’Alene form new company
Two New York-listed companies — Asarco and Coeur d’Alene Mines — have combined certain assets, thereby forming a new company. The new entity, known as Silver Valley Resources, holds the fully develo…
NEWS ROUNDUP — Greenstone pays off note
With mining well under way at its wholly owned Santa Rosa gold mine in Panama, Greenstone Resources (TSE) has paid off a US$5-million promissory note prior to its due date. The note, payable to Freepo…
Pan Pacific pursues interests in Asia
To position itself closer to its exploration projects in Southeast Asia, Vancouver-based Pan Pacific Gold (VSE) is establishing two base operations, one in Hanoi, Vietnam, and the other in Beijing, Ch…
Kennecott drills Milagro property
Salt Lake City-based Kennecott Exploration has drilled six widely spaced HQ holes (2.5 inches in diameter) on a gold-copper property in Honduras. The 52-sq.-mile concession is held by Milagro Minerals…
Castle Minerals in Mexico
A name change has been proposed for Castle Minerals (VSE), along with a share consolidation on a 2-for-1 basis. (The company has 30.6 million common shares outstanding.) In other activities, the junio…
Red metal’s rise leaves BHP in black
Australian-based resource giant Broken Hill Proprietary (BHP) experienced a jump in sales and other revenues for the 6-month period ended Nov. 1, 1994. The 10% rise was in part due to the improved per…
Pallaum focuses on South Pacific plays
Additions to management and a planned change of focus will take Pallaum Minerals (ASE) to Papua New Guinea in quest of gold. Trading in the issue is currently halted at the company’s request while a r…
Rio Algom buying Alcan division
Copper producer Rio Algom (TSE) is acquiring Alcan Aluminum’s Metals Goods distribution business. Metals Goods operates a network of 39 facilities throughout the U.S. which sells and distributes stain…