Fort Knox tests Wings Point
Preliminary drilling at the Wings Point property in north-central Newfoundland has returned heartening results for Fort Knox Gold Resources (FNX-T).Three of the four shallow holes each returned one in…
News
Anglogold comes to the aid of Acacia
Titan Anglogold (AU-N) intends to take over Australia’s Acacia Resource by 3.5 shares in exchange for 100 shares of Acacia, valued at a 24% premium on the Australian Stock Exchange.Meanwhile, rival bi…
Rubicon works at Palmer
Rubicon Minerals (RMX-V) has raised $250,000 in a private placement, with proceeds earmarked for drilling on its Palmer base metal project near Haines, AlaskaThe placement consisted of 500,000 non-flo…
LATIN AMERICA — Trans Hex digs in at Barra Grande project in Brazil — Black Swan forgoes option on Jequitinhonha River diamond property
Brazilian rivers have long-been known for their diamond potential, and partners Trans Hex International (THI-T) and Verena Minerals (VMCO-C) are showing their Barra Grande property, on the banks of th…
Lonmin makes offer for Ashanti Goldfields
Lonmin has come through with a merger offer for troubled Ashanti Goldfields (ASL-N), valuing the Ghanaian gold miner at US$820 million.The London-based platinum producer was offering 0.744 share for e…
PEOPLE — Minaterra
Brian Wallace appointed director.
PEOPLE — Homestake (October 18, 1999)
Igor Levental appointed vice-president, investor relations; Stephen Orr appointed vice-president, North American operations.
Romarco buoyed by Goldfield results
Initial drilling at the Goldfield project in southwestern Nevada has returned encouraging results for Romarco Minerals (R-T).The company drilled 77 holes (33,865 ft.) at the 15,000-acre property in a …
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Stocks decline as spot gold settles to US$320 per oz.
After several weeks of excitement, gold started to settle down during the holiday-shortened Oct. 6-12 report period, with spot prices restricted to within the US$315-325-per-oz. range. Over the week, …
Romania updates mining law
In 1998, as part of an effort to revive its struggling economy, the government of Romania enacted a new mining law. The statute allows both foreign and Romanian entities to obtain exploration and expl…
Kinross, United Tex-Sol hit high grade in Timmins (October 18, 1999)
Operator Kinross Gold (K-T) and partner United Tex-Sol Mines (UTZ-A) have intersected high-grade gold mineralization at the Clavos project in Timmins, Ont.In addition to intersecting 94.6 grams gold p…
Atna drops Dry Creek project in Alaska
Atna Resources (ATN-T) has elected to back away from the Dry Creek and Anderson Mountain massive sulphide projects in Alaska.The projects were a joint venture with Grayd Resource (GYD-V). The two comp…