Newmont earns $24.5 million
Newmont Gold reported second quarter net income of $24.5 million or 23 cents per share, virtually identical to last year’s results for the same period. Gold sales in the quarter amounted to 194,500 oz…
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Black Hawk deal
Black Hawk Mining Inc. (TSE) has entered into an agreement with Lodi Metals (VSE) which gives Black Hawk the right to earn a 55% interest in Lodi’s graphite property near Smith Falls, Ont. Black Hawk …
Borealis to place Fat Lake assets into new subsidiary
Calgary-based Borealis Exploration (ASE) says it plans to form a new subsidiary before bringing its Fat Lake gold project into production next year. To be named Borealis Fat Lake Mine Ltd., the new en…
Inco consolidating 3 mill operations
The consolidation of three milling and concentrating operations in the Sudbury, Ont., area will be carried out by giant nickel producer Inco Ltd. (TSE) at a capital cost of $69 million. Affected by th…
Uranium’s future tied to political events
Global uranium production is expected to remain below consumption for several more years as inventories are depleted, writes Nuexco, a uranium brokerage firm in the United States, in a recent monthly …
High grade gold on Roxy zone
Drilling is continuing on the Roxy zone where several drill holes have intersected high grade gold values across wide widths, Golden Rule Resources (TSE) says. Operated by Saskatchewan Mining Developm…
Editorial Tomorrow’s gold mines
Developing mineral resources is a tricky business. It depends a great deal on government policy, not so much because of what governments can make happen but for what they can prevent from happening. C…
Drilling Planned for Nevada Joint Venture Discovery
A reverse circulation drill program is being planned by joint venture partners, Brican Resources (VSE) and Bow Valley Mining to test a large zone of gold mineralization recently discovered on the 8,00…
Legal actions abound at Hemlo gold camp
The Hemlo camp located along the northern shore of Lake Superior in northern Ontario is probably as well known today for the legal squabbles it has engendered as it is for the gold it contains. Supp…
Newfields Expands Presence in Eastern Canada
Already well established in the Kirkland Lake camp of Ont., Newfields Minerals (TSE), recently added two gold projects in Eastern Canada to its property portfolio. That’s in addition to a deal made ea…
Drop in metal prices hurts commodity index
A decline in the price of industrial metals helped bring the Scotiabank’s all-commodity price index down by 8.2% in July compared with the previous month. Senior bank economist Patricia Mohr said the …
Production problems hurt Hudson Bay Mng.
Production problems at Hudson Bay Mining and Smelting’s (TSE) Flin Flon, Man., copper smelter and zinc plant have hit the company were it hurts most — on the bottom line. Second-quarter net income of…