NovaGold expands Maritime holdings
With the staking of 65 claims adjacent to its Sewell Brook base metal property in New Brunswick, NovaGold Resources (TSE) has increased its total holdings in the area to 247 claims.The company made it…
News
Golden Giant suspension hurts Hemlo’s bottom line
Production problems at the Golden Giant mine, near Marathon, Ont., took their toll on Hemlo Gold Mines (TSE) in 1995.Operations were suspended for 20 weeks following a 13-week strike and a 7-week shut…
Falconbridge lone bidder for Diamond Fields
In the absence of a rival bid for Diamond Fields Resources’ (TSE) stake in the Voisey’s Bay nickel-copper-cobalt deposit in Labrador, the wheels have been set in motion for the takeover of the company…
Formation reports drill results
Formation Capital (TSE) reports encouraging results from seven holes drilled in late 1995 at its Sunshine project in east-central Idaho.The holes were drilled in the previously untested Sunshine East …
Britannia and Bren-Mar sink decline at Lexington project
An underground exploration decline has reached the upper mineralized zone at the Lexington gold-copper project near Grand Forks, B.C.Partners Britannia Gold (VSE) and Bren-Mar Resources (VSE) report t…
Santa Fe records low profits in ’95
Santa Fe Pacific Gold (NYSE) recorded lower earnings in 1995 as a result of decreased production.The company earned US$39.8 million (or 30 cents per share) in 1995, down from US$56.7 million (46 cents…
Black Hawk and Granduc Mining sign merger deal
Black Hawk Mining (TSE) and Granduc Mining (TSE) will merge under an agreement that will also clear a large debt from the latter’s books.Each Granduc share can be traded for one share in the merged co…
Quebec benefits from higher metal prices, investment
The Canadian economy may have stumbled in the first half 1995, but Quebec’s mining industry experienced encouraging year-end results nonetheless.High interest rates at the beginning of the year, the s…
GOLD FUNDS (February 26, 1996)
Gold Funds as of Febuary 15, 1996BGRCentralNet Value$22.20$7.11Price$18.38$6.750Discount17.22%5.1%Value$173,542,000$122,170,275…
Copper, moly prices gave boost to Cyprus Amax
On the strength of higher sales and lower costs, Cyprus Amax Minerals (NYSE) reported record earnings for 1995.Excluding writedowns and special items, the company earned US$462 million (US$4.77 per sh…
COMMENTARY — Lac de Gras and the environment
Land and self-government agreements with natives in the central Arctic should be made before diamond mining begins there, urges the Canadian Arctic Resource Committee (CARC).CARC made its recommendati…
Skarn zone outlined at Rock Creek
Drilling on the Rock Creek joint venture in southern British Columbia is outlining a zone of skarn mineralization.Phoenix Gold Resources (VSE) and Orion International Minerals (VSE) jointly hold a 51%…