Correction (November 21, 1994)
The Daisy property is owned 75% by Inter-Rock Gold (ME) and 25% by Rayrock Yellowknife Resources (TSE). Incorrect information appeared in our issue of Nov. 7.
News
Gold Funds (November 21, 1994)
BGR Central Net Value $17.76 $6.58 Price $14.88 $6.875 Premium 4.5% Discount 16.26% Value $143,505,000 $124,432,688…
Aquaterre options Georgia
Junior Aquaterre Mineral Development (VSE) has acquired half of the Georgia River property in northwestern British Columbia. Previous work outlined a drill-indicated and inferred resource of 304,000 t…
Expansion planned at Porgera
A $77-million expansion plan has been approved for the Porgera gold mine in Papua New Guinea (PNG). Vancouver-based Placer Dome (TSE) holds an 18.9% interest in the joint venture. Among the other part…
Ridgeway deal nixed
The Ridgeway gold mine in South Carolina is back on the auction block following the announcement that Kinross Gold (TSE) and Kennecott Minerals have terminated their negotiations. In October, Kinross …
Eldorado boosts La Colorada tonnage
Development drilling at La Colorada mine property near Hermosillo, Mexico, is proving successful for owner Eldorado (TSE). The proven and probable mineral resource is now estimated at 12 million tons …
Metall on road to recovery
Three factors — higher metal prices, production from two new mines, and the purchase of an interest in a smelter — helped strengthen Metall Mining’s (TSE) performance in the third quarter. The compa…
Derivatives revolutionize gold markets, says author
Timothy Green, author of The World of Gold, has kept a close eye on gold markets for much of the past three decades. That was a relatively easy task years ago, he says, when it was a straightforward p…
Thunderwood explores Buchans
Geophysical and soil geochemical surveys are in progress on the Buchans base metal property in west-central Newfoundland. Current owner Thunderwood Resources (TSE) reports that the property hosted the…
Santa Fe acquires Bob Creek play
New York-listed Santa Fe Pacific Gold is set to acquire the Bob Creek gold property in Nevada’s Eureka Cty. To do so, it must spend at least US$150,000 on exploration over the next 12 months, and prog…
Inco advances McCreedy East
Nickel giant Inco (TSE) is moving ahead with plans to advance McCreedy East, its largest undeveloped nickel-copper deposit in Ontario’s Sudbury Basin, to the production stage. The first phase of devel…
EDITORIAL PAGE — Babbitt and the American Dream
U.S. Interior Secretary Bruce Babbitt has been a vocal critic of the 1872 Mining Law on the grounds that the statute allows mining companies (even foreign ones) to buy government land for a mere US$5 …