Lonmin freezes plans to boost stake in Ashanti
Denver — British-based platinum producer Lonmin says it has no plans to increase its stake in Ashanti Goldfields (ASL-N), despite reports that the government of Ghana may be willing to sell some of i…
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Thunderbox gets green light
An independent study envisages an open-pit operation employing conventional processing techniques at the Thunderbox gold project in Western Australia. Accordingly, LionOre Mining (LIM-T) and Dalrymple…
Homestake buys Aussie project from Rio Tinto
Denver — In return for US$27.6 million, Homestake Mining (HM-N) will acquire the Cowal project in New South Wales, Australia, from North Gold (WA), a wholly owned subsidiary of Rio Tinto (RTP-N).Acco…
Cassiar settles insurance claim
An investment group holding 49.62% of Cassiar Magnesium (CIR-T) says its decision to terminate senior management, including former chairman Clifford Frame, was done “in the best interest of all shareh…
Atna Res alters strategy
Vancouver — Atna Resources (ANT-T) has received low-grade results from a 3-hole drill program targeting the past-producing Lone Pine base metal mine, near Mayer, Ariz., and, as a result, is shifting …
Fording’s Gardiner leads North American tour
By fall of this year, Fording Coal expects to have left the broad umbrella of railway giant Canadian Pacific and become a stand-alone, publicly traded company. In preparation for that event, President…
Regulators OK equity financing
Having received regulatory approval, First Quantum Minerals (FM-T) is proceeding with an equity financing of 4.6-7.6 million treasury shares.The shares, priced at $4.05 apiece, are being offered in On…
Resource sector drives CDNX
The Canadian Venture Exchange composite index tacked on 32.13 points, or 0.9%, to close the week ended June 5 at 3322.54. The mining index added 83.83 points, 1.2%, to its value and finished at 7228.1…
The Northern Miner — North American Mining Index (June 11, 2001)
78.86 (-1.56)(Sept. 30/98 = 100)…
The Northern Miner — Small Producers Index (June 11, 2001)
58.13 (+1.27)(Sept. 30/98 = 100)…
Grib pipe eludes Archangel
Denver — Last-minute manoeuvres by Russia’s Arkhangel’skgeoldobycha (AGD) threaten to derail resolution of a longstanding dispute with Canada’s Archangel Diamond (AAD-V) concerning the Grib kimberlit…
Placer squeezes more gold out of Pipeline
Denver — The start of mining at the South Pipeline deposit and an ore-sales agreement with the Jerritt Canyon operation are expected to contribute to a 17% increase in gold output at the Pipeline com…