Lytton principals take profits
Some officers and directors of Lytton Minerals (TSE) emerged as sellers of the diamond stock in mid-April. According to the Ontario Securities Commission’s OSC Bulletin, Director Donald Smith sold 90,…
News
Drillers mark half-century
The Canadian Diamond Drillers Association (CDDA) celebrated its 50th anniversary in early May amid the sun and fun of this hospitable southern U.S. city. The celebration was part of the Spotlight 93 c…
Falconbridge Gold posts quarterly loss, plans to focus on
At its annual meeting in Toronto, Falconbridge Gold (TSE) reported a loss of $343,000 (2 cents per share) in the first quarter compared to earnings of $802,000 (5 cents per share) in the same period l…
Gold’s rise may signal end to the long bear market
The price of gold rocketed to a high of US$385 per oz. on May 19 from a low in March of about $326. At presstime, the price had sagged, presumably as a result of profit-taking, to $373. Peter Allen, p…
Noranda hits base metals along Wollaston U belt in northern
A 3,700-metre winter drill program in the Foster Lake area of northern Saskatchewan has yielded significant zinc and copper values for Noranda Exploration, a division of Noranda (TSE). At Hewetson Lak…
Aurizon drilling Bruneau prospect
A 6,000-ft. drill program is under way on the Bruneau gold property, 31 miles southeast of Matagami, Que., reports Aurizon Mines (TSE). Soquem, which is testing geophysical anomalies associated with t…
Azco arranges financing for Sanchez copper mine
Recent financing arrangements have set the stage for Azco Mining (TSE) to bring the Sanchez operation into production in southeast Arizona. The copper project is one of three held by the company in th…
EDITORIAL PAGE — At last! At last!
We knew (or rather, we hoped) something was afoot when share prices of Canada’s major and minor gold producers started moving up sharply in January. It is a generally accepted investing principle that…
Louvicourt update at CIM meeting
Robert Bryce of Aur Resources (TSE) will discuss the Louvicourt project in northwestern Quebec at a May 28 luncheon of the Vancouver branch of the Canadian Institute of Mining, Metallurgy and Petroleu…
OBITUARY — James Bristow
Geologist and British Columbia-based consultant James Bristow died recently at Kamloops, B.C. He was 62. After graduating from the University of British Columbia in 1957 with a degree in geology and p…
Cyprus sells two gold mines
The sale of some gold mining assets is providing Cyprus Minerals (NYSE) with additional funds for capital programs aimed at reducing costs and expanding production. An 80% interest in the Golden Cross…
LATIN AMERICA ROUNDUP — Juniors target Venezuela’s Km 88
The recent spate of legal disputes over rights to concessions has not prevented junior companies from seeking to tie up ground in Venezuela’s Kilometer 88 district. Activity there is growing steadily,…