NEWS ROUNDUP — Cyprus buys stake in El Abra
New York-listed Cyprus Amax Minerals will buy a 51% interest in the Chilean El Abra copper property. In return, Cyprus will pay US$330 million to Corporacion Nacional del Cobre de Chile (Codelco) and …
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NEWS ROUNDUP — Crystallex strikes Albino deal
Junior Crystallex International (VSE) has reached an agreement with Eurus Resources (VSE) to acquire all of the Albino property in southeastern Venezuela. In return for transferring its right to a hal…
Geomaque works San Francisco play
Junior Geomaque Explorations (TSE) raised $10.4 million from a recent share offering, most of which will be used to bring its Mexican gold property into production. Situated in Sonora state, the San F…
Commodity index in 5.9% decline
The commodity price index of The Bank of Nova Scotia dropped 5.9% in April from the previous month. The oil sector picked up but was more than offset by falling forest product and metal and mineral su…
TVX completes property purchase
An associated company of TVX Gold (TSE) has completed its acquisition of a majority interest in a controversial gold property in Venezuela. Known as Brisas del Cuyuni and situated in the Kilometre 88 …
First results reported from Meliadine play
Drilling on the Meliadine gold property in the Northwest Territories has enabled 50-50 partners Comstate Resources (TSE) and Cumberland Resources (VSE) to define, more clearly, the extent of the depos…
Eden Roc Mineral continues drilling
While one drill focused on near-surface exploration on Eden Roc’s (TSE) Ivory Coast property, a second has been defining the Brahima deposit in preparation for mining startup this fall. The Brahima is…
ODDS’N’SODS — Survey control underground essential to
Survey control in underground mines is essential to ensuring the efficiency of mining systems. I vividly recall my first venture into a mine, in the early years of the Second World War, at the Red Ros…
Imperial Metals shares to be sold
Five European shareholders of Imperial Metals (TSE) have filed notices of their intention to sell up to a total of 20 million shares of the company. The holding represents 38% of Imperial’s 52 million…
STOCK MARKETS — Markets stay the course despite drop in gold
Although the stock markets have been on a slide for the past month or so, trading on the Toronto Stock Exchange is still well ahead of last year. For example, the TSE’s average daily value of $808.1 m…
Deadline set for June 20 — Anvil negotiates Faro
A private company run by former executives of now-bankrupt Curragh expects to reach a deal with receiver Peat Marwick Thorne this month regarding the purchase of Curragh’s Faro lead-zinc mine in the c…
Dupont develops copper-gold process
A new, cost-effective, integrated process for the economic production of gold and copper from ores containing cyanide-soluble copper has been developed by DuPont. The company says this technology can …