Cream Silver loses appeal
The British Columbia Court of Appeal recently ruled that Cream Silver Mines (VSE) is not entitled to compensation for the loss of its rights to explore and develop mineral claims in Strathcona Park on…
News
More about diamonds (February 22, 1993)
Canadian mining companies are involved in the search for diamonds both at home and abroad: N.W.T. — Ashton Mining of Australia has elected to exercise the buyback clause in its joint venture agreemen…
LATIN AMERICA — Morgain to drill Mexican prospect
Aiming to outline a heap-leachable copper reserve on its Cuatro Hermanos property in Mexico, Morgain Minerals (VSE) will launch a percussion drilling program on four separate oxide zones this month. M…
LATIN AMERICA — Granduc drops La Choya project
A proposed foray into a Mexican gold project was aborted by Granduc Mines (TSE) because of international tax considerations and other matters that altered original expectations. Granduc had planned to…
Tombstone to acquire Venezuelan option
Although still subject to a final formal agreement and regulatory approval, Tombstone Explorations (VSE) recently signed an agreement allowing it to acquire a 100% interest in 15 properties comprising…
LATIN AMERICA — Great Basin in deal with Fischer-Watt
Nevada-based Great Basin Exploration & Mining recently signed a letter of intent to joint venture the Santa Lucia property owned by Fischer-Watt Gold (NASDAQ). The property is a 45.5-sq.-km concession…
Woolgar joint venture expands territory
New prospecting permits have expanded the area of interest of the Woolgar joint venture in the Northwest Territories to 300,000 acres, Rhonda Mining (ASE) reports. Rhonda’s partner in the copper ventu…
Slight increase in 1992 value of Canadian mineral output
The total value of Canada’s mineral production in 1992 increased by 0.6%, or about $200 million from the 1991 level, the federal department of Energy, Mines and Resources reports. Preliminary estimate…
Noranda reducing output of its zinc concentrate
Production of zinc concentrate will be reduced in 1993 by 40,000-45,000 tonnes of contained zinc because of the worldwide surplus of zinc concentrate, Noranda Minerals, a unit of Noranda (TSE), report…
Skyline restructures its bank debt
Former gold producer Skyline Gold (TSE) released details of an agreement to settle $2.6 million of debt to the Royal Bank of Canada. The company will make an immediate payment of $739,500 to the bank,…
Placer verges on 2 million oz.
Low-cost mines in Papua New Guinea and operating improvements at several North American mines enabled Placer Dome (TSE) to more than offset last year’s 7% drop in the average gold price to US$344 per …
Metall proposes Minnova takeover
A proposal has been made by Metall Mining (TSE) to acquire all of the shares of Minnova (TSE) that it does not own at a price of one Metall common share and $4 for each Minnova common share. Metall ac…