Greek bombshell sinks TVX (March 18, 2002)
Massive writedowns eroded an otherwise profitable year for TVX Gold (TVX-T).The gold miner lost US$227.9 million (or US$1.24 per share) in 2001 on revenue of US$158.3 million, compared with earnings o…
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Inca Pacific tables resource for Magistral
Vancouver — Inca Pacific Resources (IP-V) and partner Anaconda Peru have tabled an updated mineral resource for the Magistral copper-molybdenum-silver project.The new resource weighs in at 105 millio…
Solitario cuts PGMs at Pedra Branca
Vancouver — Denver-based Solitario Resources (SLR-T) has intersected new platinum-palladium mineralization at its Santa Amaro and Cedro 1 prospects at the Pedra Branca project in Brazil.Solitario’s S…
Eldorado pays down debt (March 18, 2002)
Vancouver — With its debt now under control, Eldorado Gold (ELD-T) intends to develop its assets in Brazil and Turkey.Since the completion of its special warrant financing worth $23.5 million, Eldora…
No democracy, no change
To the surprise of practically no one, Robert Mugabe was declared the winner of Zimbabwe’s presidential election on March 13. Election officials said he had taken 57% of the votes, compared with 42% f…
News – 18-MAR-02
South Africa produces less gold (March 18, 2002)
South Africa’s gold output tumbled in 2001 but is now stabilizing, according to that country’s Chamber of Mines.Production slipped to 393,254 kg, from 427,981 kg in 2000 — the lowest level since 1953…
OMET benefits R&D companies
Five research and development projects will be the first to receive funding under the Ontario Mineral Exploration Technologies (OMET) program.The $8-million program is designed to assist projects that…
Holmer Gold raises US$6m
Toronto-based junior Holmer Gold Mines (HGM-V) has closed a US$6-million debt financing with TCC Ventures, a U.S.-based venture capital firm.Following due diligence, Holmer will also issue 1 million s…
Int’l Curator cuts new zone
Vancouver — International Curator Resources (IC-T) has discovered a gold zone along strike of the Hunt target on the Assean Lake project, 120 km northeast of Thompson, Man.Collared 3.5 km away from t…
New valuation code out in draft form
Canada has moved closer to adopting standards for mineral property valuation with the draft report of a committee of the Canadian Institute of Mining, Metallurgy and Petroleum.The CIM’s Special Commit…