Barrick ups 1st-quarter earnings and production
Thus far into 1994, American Barrick’s (TSE) earnings statement shows every sign of outshining that of last year. For the first quarter, revenues were US$187.3 million compared with US$144.1 million i…
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Habsburg modifies placement
Junior Habsburg Resources (TSE) reports that its previously announced private placement with Canaccord Capital has not been completed. Instead, Habsburg will sell, on a private placement basis, up to …
NEWS ROUNDUP — New Island in deal with Goldbar
Alberta-listed New Island Minerals (NIM) intends to acquire mining assets from CDN-listed Newfoundland Goldbar Resources (NGR). Included are 51% of the shares of Tiara Marble. NIM will retain ownershi…
Lac to triple reserves in next five years
For gold and base metal producer Lac Minerals (TSE), 1993 was a year with mixed results. Attempts to reduce cost and increase productivity were offset by after-tax provisions associated with mine clos…
Drilling by Pacific Sentinel in full swing at Casino project
Drills are turning again on the Casino property in the southwestern Yukon. Pacific Sentinel Gold (VSE) reports that four rigs are at work and an additional two rigs will be operational shortly. Drilli…
Maymac Pete buys Nevada placer deposit
Vancouver-based Maymac Petroleum (VSE) has paid $US500,000 for the Crescent Valley placer gold mine within Nevada’s Battle Mountain Trend. The property consists of 8,500 acres and a mill capable of pr…
Metall launches exploration program to extend life of Winston
Aiming to extend the life of its Winston Lake mine in northwestern Ontario, Metall Mining (TSE) has begun underground exploration of the nearby Pick Lake deposit. A 2.5-km.-long drift, costing $2 mill…
Nymex, Comex approve merger
Members of both the New York Mercantile Exchange (Nymex) and the Commodity Exchange (Comex) of New York voted recently in favor of merging the two futures exchanges. Nymex, the world’s major trader of…
Mutual options West African project
VSE-listed Mutual Resources is planning a surface exploration program for its newly optioned gold concession in Burkina Faso, West Africa. The company recently entered an option agreement with Comidok…
Granduc closes financing
Toronto-listed Granduc Mining has completed a previously announced $3.5-million financing with Conwest Exploration (TSE) and Jascan Resources (TSE). Proceeds from the loan will be used to complete Gra…
Government, MAC fund enviro study
The federal government, the Mining Association of Canada (MAC) and four provinces (British Columbia, Ontario, Quebec and New Brunswick) are collaborating in an attempt to identify economical ways to m…
Regional sells Fairfield shares
Junior Regional Resources (TSE) has sold 1.7 million shares of Faifield Minerals (TSE). Proceeds amount to $5 million. Some of the shares were sold under an option agreement for $1.10 per share. An ad…