Kinross Gold to issue warrants
Three investment dealer firms have agreed to acquire six million Kinross Gold (TSE) warrants at $4.25 each for aggregate proceeds of $25.5 million. The warrants are convertible into an equal number of…
News
LAST BUT NOT LEAST — Asarco sells Australian unit
International base metals producer Asarco (NYSE) has sold its remaining 45.3% interest in Asarco Australia for US$79.5 million. The sale of the 66.5 million shares will result in an after-tax gain of …
LAST BUT NOT LEAST — Silver Star raises $518,000
A stock offering by Silver Star (CDN) will raise $518,000. The company plans to use $410,000 to explore its Dasserat, Launay and Pascalis-Vauquelin gold properties in northwestern Quebec. Most will be…
LAST BUT NOT LEAST — Gold reserves rise in South Africa
South Africa’s gold and foreign currency reserves rose by 28.9% from November to December, 1993. Figures released in Pretoria by the Reserve (central) Bank show December’s total was 9.1 billion rand (…
Global Stone completes offering
Following regulatory approval of its special warrant prospectus, Global Stone (TSE) has received, from escrow, $28.8 million from the sale of 6.3 million special warrants. About $10 million from the o…
Aurora secures mine financing
Australian mining firm Aurora Gold has secured US$45 million in funding for its gold and silver project in Kalimantan, on the Indonesian island of Borneo. Rothschild Australia, NM Rothschild & Sons an…
IGR options Ghana concession
CDN-listed International Gold Resources (IGR) has entered an option agreement with Adjumadium Mining to acquire a 51% participating interest in a 50-sq.-mile concession in Ghana, West Africa. The agre…
True potential of Cominco’s Red Dog nears realization
It was enough to make even the most skeptical base metal investor salivate: an open-pit deposit containing 85 million tons grading 17.1% zinc, 5% lead and 2.4 oz. silver per ton at a strip ratio of le…
METALS COMMENTARY — Stainless steel growth good for nickel
Stainless steel represents at least 60% — and maybe as high as 70% — of nickel consumption, and fairly steady growth seems certain in the near future. Production was up again in 1993, to about 11.4 …
NEWS IN BRIEF — Abacus looks for stratabound gold
Abacus Minerals (VSE) has obtained more trench assay results from its gold property in Brookfield, N.S. Trench 4 uncovered a sample which ran 0.76 grams gold per tonne over 19 metres, including a sect…
Drill results rejuvenate gold project
A 16,000-ft. drill program by Teck (TSE) is returning attention-grabbing gold values from the Thunder Lake West gold prospect near Dryden, Ont. The first infill hole intersected 0.89 oz. gold per ton …
NEWS ROUNDUP — MSV producing at Chibougamau
Toronto-listed MSV Resources has released production figures for the fourth quarter. The Montreal-based company produced 12,700 oz. gold and 3.5 million lb. copper from 126,726 tons of material. The c…