News

Members of both the New York Mercantile Exchange (Nymex) and the Commodity Exchange (Comex) of New York voted recently in favor of merging the two futures exchanges. Nymex, the world’s major trader of…

The proposed merger of privately owned Hendricks Minerals Canada and inactive Everdeen Resources has been approved. The new company, which will retain the name “Hendricks Minerals Canada,” will trade …

New York-listed Cyprus Amax intends to select a buyer for its 48.3% controlling interest in Canada Tungsten (TSE), which is active in North and South America. The decision evolved from the merger of C…

Encouraged by a pre-feasibility study, Lyon Lake Mines (ME) is hoping to have its Beta Vargas heap-leach gold project in Costa Rica in operation by the first quarter of 1995. President Guy Hebert said…

Four salient trends have emerged in the gold market. First, attitudes towards gold by the European central banks have been more positive during the past year, judging by official statements and report…

Drilling has resumed on Queenston Resources’ (TSE) Pandora gold property near Malarctic, Que. Operator Santa Fe Pacific Gold, a unit of Santa Fe Pacific (NYSE), says the 10,000-ft. program will test t…

Noranda (TSE) has filed a preliminary, short-form, shelf prospectus with the Ontario Securities Comission. The prospectus will allow the major to file up to US$500 million worth of debt securities for…

Environmental concerns about two mining projects in the U.S. were raised at the annual meeting of Noranda (TSE) in Toronto. In Montana, Noranda affiliate Hemlo Gold Mines, through 60%-owned Crown Butt…

World uranium production declined by almost 8% during 1993, to 85.3 million lb. equivalent U308. While production in most countries remained relatively stable, major decreases were recorded by the Cze…

Two directors of Starmin Mining (TSE) exercised options and sold shares in February. According to the Ontario Securities Commission’s OSC Bulletin, director Richard Brissenden exercised 50,000 options…

Surface drilling is under way on the San Bartolome mine property in Ecuador. Ag Armeno Mines & Resources (VSE) plans an initial 10,000 ft. of drilling, including 25 holes to test to the west and north…

Diamond drillers have started work on El Sultan, a gold project in Zacatecas state in central Mexico. Francisco Gold (VSE) hopes to identify a Carlin-type, limestone-hosted, disseminated, oxide orebod…