USMX earnings fall
Despite a slowdown of mining activities, USMX (NASDAQ) earned US$330,000 (or 2 cents per share) last year, compared with a net income of US$2.6 million (or 17 cents per share) in 1993. The company’s o…
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High River options HudBay properties
Toronto-listed High River Gold Mines can acquire gold and silver production rights from certain properties in Manitoba held by Hudson Bay Mining & Smelting (TSE). The agreement covers 17 properties ad…
BHP, partner hit red metal
Two joint-venture partners — American Resource (NASDAQ) and a subsidiary of BHP Minerals — encountered copper mineralization in two drill holes on their Agua Rica project in Argentina. The drilling …
Ego near startup of Cobatec facility
The Cobatec cobalt recovery plant, near Cobalt, Ont., is scheduled to enter production this month, with the first shipment scheduled for March. The hydrometallurgical facility, which cost owner Ego Re…
Development plans for 543-S project
Joint-venture partners Great Lakes Minerals (TSE) and Brookline Minerals (VSE) will begin developing the 543-S copper project in Michigan’s Keweenaw Peninsula. Brookline will fund the $5.5-million, 3-…
Battle Mountain boosts earnings
New York-listed Battle Mountain Gold earned US$2 million in the fourth quarter of 1994, compared with a loss of US$400,000 for the same period in the previous year. This raises net income for the year…
Menora acquiring Czech royalty
Toronto-based Menora Resources (ME) plans to acquire a mill royalty and an option interest in a package of five gold properties in the Czech Republic. The junior will pay US$200,000 to the Harrison Gr…
IGR’s Bibiani play enhanced
Independent consultants estimate the Bibiani project in Ghana contains 1.8 million oz. gold, which includes measured and indicated resources from tailings, surface mine waste and the Main zone. Toront…
INVESTMENT COMMENTARY — MK Gold seen as undervalued
Brokerage house Robertson, Stephens & Co. recommends MK Gold (NASDAQ) as a buy, describing it as an “undervalued gold miner with a bright future.” And yet, despite this positive outlook, investors app…
Inco explores properties in Casa Berardi region
A program of line cutting, induced-polarization (IP) surveys and diamond drilling has begun on two properties held by Inco (TSE) in the Casa Berardi area of northern Quebec. In Casa Berardi Twp., Inco…
Mirage, partners drill testing Salvadoran play
Drilling on El Dorado, a gold project in El Salvador, has returned additional gold values for joint-venture partners Mirage Resources (VSE), Bethlehem Resources (TSE) and Dejour Mines (TSE). Bethlehem…
Emerald Isle and Stralak plan garnet production
VSE-listed Emerald Isle Resources and Stralak Resources have announced production plans for their high-grade almandine garnet project in Street Twp., about 24 miles from Sudbury, Ont. An all-weather r…