Lac posts loss in second quarter
Citing lower realized gold prices and a decrease in production, Lac Minerals (TSE) reported a loss of US$800,000 for the quarter ended June 30 compared with second-quarter earnings of US$4.4 million (…
News
U.S. REPORT — Inventory sought of abandoned mines
The U.S. federal government has been asked to conduct an inventory of abandoned mine sites. The request came from the president of the American Mining Congress (AMC), John Knebel, who asked for an inv…
Busy summer for Stewart area
The Stewart camp in northwestern British Columbia is abuzz this summer as work programs fly into full gear on several advanced projects. The largest is being carried out by Lac Minerals (TSE) on the R…
Newhawk drilling at Sulphurets
Two separate drill programs are being carried out this summer by Newhawk Gold Mines (TSE) on the Sulphurets property, 60 km north of Stewart, B.C. Work on the 60%-owned Bruceside project is to focus o…
Athabaska revises Ramrod agreement
A revised agreement between Athabaska Gold Resources (TSE) and Consolidated Ramrod Gold (TSE) has been approved by Royal Oak Mines (TSE). Royal Oak, which owns 3.4 million shares of Athabaska, tried t…
Bre-X acquires 80% interest in Indonesian gold property
Calgary-based junior Bre-X Minerals (ASE) has acquired an 80% working interest in an advanced gold project in East Kalimantan, Indonesia. The 57,571-hectare property contains three main occurrences, t…
LAST BUT NOT LEAST…Kinross issues special warrants
Underwriters Midland Walwyn Capital, Nesbitt Thomson and Goepel Shields & Partners have agreed to acquire 10 million special warrants of Kinross Gold (TSE) at $2.50 each for total proceeds of $25 mill…
LAST BUT NOT LEAST…Kalahari acquires Abitibi properties
Vancouver-based Kalahari Resources (VSE) has acquired 31 properties along the Abitibi greenstone belt of northwestern Quebec and northeastern Ontario. The properties were chosen by a group of prospect…
LAST BUT NOT LEAST…Reed Lake extends gold zone
A sampling program on the Corbiere Twp. property near Wawa, Ont., has extended the gold-rich pyrite zone another 60 metres to the west, reports Reed Lake Exploration (ASE). The 3-metre-wide zone, whic…
Low metal prices squeezing Highland Valley mine
With reserves of 632.9 million tonnes averaging 0.414% copper and 0.0068% molybdenum yet to be mined, the huge Highland Valley copper mine near this interior community has about 15 more years to look …
NEWS ROUNDUP — Trev announces drill program
Drilling funded by Cameco (TSE) will test a high-grade gold discovery made by Trev (ASE) on its Cornice Mountain project near Stewart, B.C. The project is 15 km from Lac Minerals (TSE) Red Mountain go…
Miramar lands Con funding
VSE-listed Miramar Mining has secured funding for its purchase of the Con mine in Yellowknife, N.W.T. Sprott Securities and Yorkton Securities agreed to buy, through a bought deal, 11.25 million speci…