MH encouraged by Mag Lake play
Encouraging gold and base metal values have been uncovered at MH Resources’ Mag Lake property in the Northwest Territories. The company is owned 40% by Noble Peak Resources (ASE), 40% by Dejour Mines …
News
LAST BUT NOT LEAST — AMR gets Chinese rare earth plant
A subsidiary of Advanced Material Resources (ASE) has acquired a 60% interest in a rare earth oxide plant in East China. The plant, in Jiangyin within Jiangsu province, produces high-value rare earth …
LAST BUT NOT LEAST — Copper drives Arimetco into red
Lower copper prices drove Arimetco International (TSE) to a loss for the nine months ended Sept. 30. A loss of US$2.7 million on sales of US$15.2 million was reported for the period. This compares to …
Holmer arranges $1.3m financing
Toronto-based Holmer Gold Mines (ASE) has entered agreements with two investors to raise up to $1.3 million. The first private placement with MVP Capital (TSE) is for 1.2 million units at 30 cents eac…
Venezuela’s still hot — Verdict lifts Gold Reserve price
Following a Venezuelan Appeal Court’s decision on a lawsuit regarding ownership of the Brisas property, shares of Gold Reserve (TSE) climbed to record 52-week highs. Shares were trading at $20.25 at p…
Pioneer plans infill drilling
Infill drilling at Manitoba’s Puffy Lake gold mine should be under way by January, reports Pioneer Metals (TSE). The mine, northeast of Flin Flon, has been closed since 1989 and Pioneer hopes to retur…
NEWS ROUNDUP — Virginia, Placer in Quebec venture
Placer Dome (TSE) and Virginia Gold Mines (ME) have agreed to explore and develop various projects in northeastern Quebec. The terms of the agreement are as follows: * Placer will fund all expenditure…
NEWS ROUNDUP — Spirit trenches LaSalle concession
Junior Spirit Lake Explorations (ME) has completed two of three previously announced private placements for a gross amount totaling $300,000. Proceeds will go toward exploring the LaSalle concession i…
Promotional help available for industrial minerals
The industrial minerals industry in British Columbia will receive promotional help from the provincial government. “British Columbia produces about 20 different industrial minerals and could produce a…
DIAMOND PAGE — Diamond merchants make their pitch
Canadians have made progress but still have a long way to go when it comes to exploiting diamonds, according to two analysts who spoke at the recent Manitoba Mining, Minerals and Petroleum Convention….
Gold book compares international producers
A fundamental shortfall of supply over demand will cause the price of gold to rise in 1994 and 1995, according to Goldbook ’93, published by London-based T. Hoare & Co. Echoing this prediction is Rhon…
NovaGold samples high-grade zone
NovaGold Resources (TSE) is completing sampling, geophysics and geochemistry on its 70%-owned Pine Cove property, near Baie Verte, Nfld. Samples from the Romeo-Juliet structure have assayed as high 35…