News

Russian oil giant seeks to dissolve Archangel deal

Denver — A newly filed lawsuit is threatening Archangel Diamond’s (AAD-V) ongoing efforts to resolve a title dispute over the Verkhotina diamond licence in northern Russia. LUKoil, Russia’s largest o…


OMET gets advisory committee

The Ontario Mineral Exploration (OMET) program now has a technical advisory committee.The committee will evaluate proposals and make funding recommendations submitted to OMET, a 4-year, $8-million ini…



Base metals stand firm

Base metals markets enjoyed a second good week during the Aug. 20-24 period, with most managing to at least hang on to the gains made late the previous week.Nickel was the strongest performer, as the …


Field trips highlight SEG conference

The Society of Economic Geologists (SEG) is planning six field trips in conjunction with its Global Exploration conference, slated for April 14-16, 2002, in Littleton, Colo.The trips will encompass:- …


Gold founders in weak market

Denver — Falling consumer confidence kept a lid on financial markets, holding the Dow Jones industrial average to a 47.89-point (0.5%) gain during the report period ended Aug. 28 at 10,222.03, while …


Decline in oil and gas pulls down CDNX

Vancouver — Canada’s junior exchange lost ground over the week ended Aug. 28. Oil-and-gas-related issues led the way with a 3.7% plunge in the sector. The Canadian Venture Exchange composite index fe…


Rockinghorse yields large number of stones

Additional microdiamond results from the newly discovered Anuri pipe on Tahera’s (TAH-T) Rockinghorse property in Nunavut indicate that the kimberlite body is significantly diamondiferous.Six hundred …



More consolidation expected in gold sector

John Ing of Maison Placements Canada has long made the case that gold is an effective hedge against both a lower U.S. dollar and a weaker economy. For most of the past six years, however, the U.S. eco…


US Gold gains Mexican base metal property

Denver — After concentrating for years on the Tonkin Springs gold project in Nevada, U.S. Gold (USGL-O) is shifting its focus to a silver-lead-zinc property in Mexico.The company leased the 47-ha Zim…


Crown defaults on debentures (September 03, 2001)

Denver — Financially beleaguered Crown Resources (CRRS-O) says it will not be making its final, US$15.4-million payment, thereby defaulting on its 5.75% convertible subordinated debentures. The payme…


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