American Mineral raises $30 million
Arkansas-based American Mineral Fields (VSE) has raised $30 million to acquire, explore and develop mining properties worldwide.Through a private placement, American issued 4 million special warrants …
News
Spot prices at a glance (May 06, 1996)
Wednesday, May 1, 1996Week’s Price (US)ChangeGold*$391.00-$0.10Silver*$ 5.33+$0.01Platinum*$400.50-$2.75Nickel**$ 3.56-$0.05Lead**$ 0.370.00Copper $ 1.21+$0.01Zinca$ 0.46-$…
Queenston, Franco-Nevada acquire Inco ground near Kirkland Lake
A land package exceeding 100 sq. km in area has been assembled by Queenston Mining (TSE) and Franco-Nevada Mining (TSE) in the Kirkland Lake area of northeastern Ontario, and the two companies plan to…
Noranda defends stake in New World project
Even when surrounded by its own shareholders, Noranda (TSE) can not avoid the controversy over the New World gold-copper-silver project in Montana.At the annual meeting, shareholder James Barrett, a r…
Leader Mining picks up Knife Lake copper property in N.E. Saskatchewan
Alberta-listed Leader Mining International has taken an option on the Knife Lake copper property in northeastern Saskatchewan from Copperquest (CDN).Leader will spend $1 million on exploration over th…
Placer corrects claim to mine safety record
As a result of a previously unidentified lost-time accident at Placer Dome’s Campbell gold mine, the mine is correcting its claim to a Canadian safety record.Placer Dome reported 1.8 million man hours…
Development work under way at Mount Polley
Partners Imperial Metals (TSE) and Sumitomo are developing, under a revised agreement, the Mount Polley gold-copper project in central British Columbia.The new agreement gives Sumitomo a 45% interest …
Archon drilling geophysical targets
In the Northwest Territories, Archon Minerals (VSE) has resumed a 6-hole drill program for potential kimberlites.The company, under the direction of President Stewart Blusson, is testing geophysical a…
McLellan sells Canada to international investors
Canadian mining companies hold interests in more than 2,700 properties spanning 99 countries around the world. Anne McLellan, minister of Natural Resources Canada, wants to lure those companies back h…
GOLD FUNDS (May 06, 1996)
Gold Funds as of April 25, 1996BGRCentralNet Value$24.70$6.70Price$19.40$6.800Discount21.46%1.5%Value$193,126,000$123,075,240…
STOCK MARKETS — Golds advance as base metals stagnate
The Toronto Stock Exchange enjoyed a steady rise over the period ended April 30, with the TSE 300 composite index reaching a record 5,154.32 before settling back to close at 5,146.47, a modest gain of…
Akiko and Gold Canyon make up
Former partners Gold Canyon Resources (VSE) and Akiko Gold Resources (VSE) have settled their differences over Ontario’s Springpole project.The dispute arose over Akiko’s claim to its right to buy a 2…