Precious metal issues popular
Investors have taken a shine to precious metal stocks, and Canadian gold producers are seizing the opportunity to issue new equity. Since the beginning of the year, the Toronto Stock Exchange’s gold a…
News
Royalty dropped from Clinton budget
A royalty on hardrock mining on public land in the U.S. will be dropped from the proposed fiscal 1994 budget of the Clinton Administration, the Associated Press reports. However, White House officials…
Development work continues at Louvicourt base metal project
The well-attended annual meeting of Aur Resources (TSE) in Toronto heard upbeat news about base metals development in Canada. The massive Louvicourt deposit, being developed by Aur and its partners, i…
LATIN AMERICA ROUNDUP — Sutton plans Guyana program
Drilling is to start shortly at the Marudi gold project of Sutton Resources (VSE) in south-central Guyana. The program will test geological/geophysical targets within an extensive gold-in-soil anomaly…
LATIN AMERICA ROUNDUP — Exall raises project financing
Proceeds of $5.58 million are reported by Exall Resources (TSE) from a private placement involving special warrants. The company will fund option payments and exploration and development relating to M…
LATIN AMERICA ROUNDUP — Manhattan lands Mexican option
Manhattan Minerals (VSE) has an option to acquire the Reyna de Oro Mineral concessions in Chihuahua, Mexico. It must spend US$2.5 million over five years and make graduated payments totaling US$300,00…
Arauco acquires copper properties
Junior Arauco Resources (VSE) has broadened its South American portfolio by acquiring five copper properties covering 185 sq. km. in Argentina. Arauco already has 22 properties in southern Chile, incl…
Tan Range, Mill-Ore to assess Tanzanian tailings project
Financing to assess the commercial viability of reprocessing gold tailings in Tanzania has been obtained by Tan Range Exploration (ASE). The Canadian Industrial Development Agency (CIDA) has approved …
INSIDER TRADING — Viceroy insiders offload stock
Insiders of Viceroy Resources (TSE) offloaded some of their holdings in February, when the stock was trading close to its 52-week high of $7. According the Ontario Securities Commission’s OSC Bulletin…
Home Ventures in private placement
Vancouver-based junior Home Ventures (VSE) has agreed to a private placement of one million units at 25 cents per unit to raise $250,000. Each unit consists of one Home Venture common share and one no…
LATIN AMERICA ROUNDUP — Drilling planned at Alamos project
Surface drilling of the Alamos property in Sonora, Mexico is planned by Tenajon Resources (VSE). The property hosts several targets that, collectively, could develop into a heap-leach operation employ…
Inflation traps residents of Russia’s northern climes
Dreams of saving money in Russia’s barren Arctic to buy a home and retire to the temperate south have perished in the grim reality of inflation. Officials say more than 800,000 of the Russian Arctic’s…