Louvicourt project on time, budget
Production of the Louvicourt project is scheduled to begin in October, 1994, a short five years after discovery of the base metal deposit, northeast of here. “Quebec is still the best place to explore…
News
Deak begins mining operations at Astoria
Production has started at the Astoria gold mine near Rouyn-Noranda, Que., reports operator Deak Resources (TSE). Mining of 12,000 tons per month will be carried out by Val d’Or, Que.-based contractor …
NEWS ROUNDUP — Cambior increases Omai interest
The majority owner of the producing Omai gold mine in Guyana has increased its interest by 5%. Cambior (TSE) has exercised an option granted by Golden Star Resources (TSE) and will pay $2 million to G…
STOCK MARKETS — Gold stocks charge ahead as gold tops US$350
Gold stirred from a lengthy slumber during the week ended April 27, gaining more than US$10 to US$350 per oz. in New York and sending gold shares to new 52-week highs on the Toronto Stock Exchange. Th…
Lockout in force at Myra Falls mine
A lockout notice was delivered recently by Westmin Resources (TSE) to 364 unionized employees at its Myra Falls mine near Campbell River, B.C. Westmin said protracted negotiations with Canadian Auto W…
LATIN AMERICA ROUNDUP — Miramar completes Cuban acquisition
Shareholders of Matlock Mining of Australia have approved the sale to Miramar Mining (VSE) of Matlock’s interests in two Cuban projects. Miramar now holds a 50% interest in the Hierro-Mantua copper le…
Huckleberry drilling confirms new zone of mineralization
Drilling on the Huckleberry property near Kemano, B.C., has confirmed the presence of a new zone of copper mineralization about 4,000 ft. east of the main deposit. New Canamin Resources (VSE) discover…
Conwest shares
Conwest Exploration (TSE) has entered into a “bought deal” agreement worth almost $55 million. Underwriters, led by First Marathon Securities, will buy three million B subordinate-voting shares of the…
Roxmark option
Roxmark Mines (TSE) is negotiating an option agreement for 32 claims in Odlum Twp. in the White River area of northern Ontario. Any agreement is subject to a due diligence review and regulatory approv…
INSIDER TRADING — Aur insider sells into rally
As the operator of a developing mine and — to add speculative appeal — a major participant in the Northwest Territories diamond hunt, Aur Resources (TSE) has been climbing in price on the Toronto St…
Bethlehem leases Poison Mountain
Copper-miner Bethlehem Resources (TSE) recently reached an agreement-in-principle with Lac Minerals (TSE) to lease (with an option to purchase) the Poison Mountain copper-gold-molybdenum property nort…
Copper price in decline
Copper, one of the few industrial metals to maintain its value in the current depression, has lost its shine and suffered steep reverses in recent weeks. The metal recently reached a five-and-a-half-y…