Richmont posts quarterly loss
Montreal-based Richmont Mines (RIC-T), which has operations in Quebec and Newfoundland, is feeling the pinch of low gold prices, increased cash costs and reduced production.The company posted a loss o…
News
Tahera funds work at Jericho (August 16, 1999)
Through a private placement, Tahera (TAH-T) intends to raise $3.5 million, a portion of which will be used to explore the Jericho diamond properties in the new Canadian territory of Nunavut.The privat…
Index (August 16, 1999)
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Placer reports solid quarter, continues cost-cutting efforts
North America’s third-largest gold mining company turned a profit in the second quarter, demonstrating an ability to adapt to lower gold prices by increasing efficiency and maintaining solid hedging p…
Homestake makes $100,000
Higher production pushed Homestake Mining (HM-N) into the black during the second quarter of 1999, despite poor gold prices.The company earned US$100,000 in the 3-month period, compared with a loss of…
Aquest seeing gold, antimony at Anabella
Drilling at the Anabella project in the western highlands of Guatemala has encountered intermittent zones of gold-antimony mineralization, reports operator Aquest Minerals (AQU-V).The results come fro…
PEOPLE — Bolivar
Ian Ward appointed director.
Rubicon starts drill program at Palmer
Junior Rubicon Minerals (RMX-V) has begun a 5-to-8-hole, 4,000-ft. drill program at the Palmer base metal project in southeastern Alaska.The road-accessible project, 35 miles northwest of the port of …
SPOT PRICES (August 16, 1999)
Precious MetalsPrice (US$/oz.)ChangeGold$256.90-$0.60Silver$ 5.34+$0.14…
Freewest raises drilling funds
Junior Freewest Resources Canada (FWR-M) has raised $245,000 to explore two gold properties in New Brunswick.The funds were raised through a private placement of 980,000 treasury shares priced at 25 c…
PEOPLE — Battle Mountain (August 16, 1999)
Ian Atkinson appointed vp operations and exploration.
MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — EuroZinc, Grayd buck trend as VSE tumbles
The Vancouver Stock Exchange composite index nosedived 14.26 points, or 3.4%, over the report period ended Aug. 10 to close the week at 400.89. The mining index also lost ground, shedding 6.35 points,…