Whim Creek consortium buying Aussie company
Whim Creek Consolidated, acting on behalf of a consortium, has signed a deal with C.R.A. Ltd., to purchase all the shares of Forrest Bay Pty. for $76.5 million. Members of the consortium include Austw…
News
Accounting policy change adds to Galactic loss
A much more conservative accounting policy has been adopted by Galactic Resources, major gold producing asset of which is the Summitville mine in Colorado. As a result, Galactic reported a year-end ne…
Canadians find gold on Aruba
In something of a coup, a little known junior Canadian mining company, Monte Carlo Gold Mines, has obtained the exclusive mining concession to this beautiful Dutch island in the Caribbean Sea just 15 …
Increased gold production tops on Northgate’s agenda
With a healthy working capital of just over $18 million, Northgate Exploration is out seriously shopping for a new acquisition in the precious metals arena. .T No small task, as President John Kearn…
Dolphin flow-through
Flow-through shares of Dolphin Explorations will be issued to a fund at a price of $1.19 per share, not at $1 as was previously announced by the company. Dolphin will receive proceeds totalling $357,0…
Stockmen name change
Shareholders of Stockmen Energy approved a name change to Stockmen Oil and Gas, the company says. Also, approval was received for a consolidation of shares on a 1-for- 10 basis.
New LME contract in U.S. dollars
A new aluminum contract denominated in American dollars will begin trading June 1 on the London Metal Exchange (lme). The new contract, which will have a delivery point in Singapore, the first outside…
Second adit for Gulf Titanium
Gulf Titanium says a second production adit is planned at its Cruse/Belmont project in Montana. The new production working will open up the No 8 level while development work on the sixth level stockpi…
Roxmark encouraged at Geraldton bet
Results of the winter exploration program at the company’s Geraldton, Ont. property are encouraging, reports Roxmark Mines’ President Stanley E. Malouf. Located in Errington Twp., the property include…
Round Mountain to double in size
The world’s largest open pit heap leach gold mining operation is about to double in size. The Round Mountain mine in Nye Cty., Nev., owned by Echo Bay Mines (50%), Homestake Mining (25%) and 25% by Ca…
Golden Trio gets Hemlo property
Golden Trio Minerals has acquired an option on a 166-claim property in Pic Twp., Ont. Located west of the Hemlo gold mines, the claims are held by International Maple Leaf Resources. Golden Trio has t…
New test for Red Lake gold property
With junior mine financing made vastly easier these days, and interest in gold mining now at a high pitch, many of the long-dormant mines and properties are being given another chance. This includes t…