LME WHSE LEVELS (December 14, 1998)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Dec. 7/98 (change from Dec. 1 in brackets):MetalStocks (tonnes)Change…
News
Orezone hits high-grade gold
Trenching by Orezone Resources (ORZ-M) has revealed a high-grade gold zone at the Intidougou property in Burkina Faso.Eight channel samples from a continuous zone of highly silicified, brecciated bed…
Eldorado posts 9-month loss, writedown
Eldorado Gold (ELD-V), which operates mines in Mexico and Brazil, suffered a writedown of US$100 million in the third quarter as a result of low gold prices.The total writedown includes US$39.2 millio…
Barrick launches takeover bid for Argentina Gold
Barrick Gold (ABX-T) has announced its intention to buy all outstanding shares Argentina Gold (ARP-V) for $4 each.With about 35.6 million shares outstanding, the takeover bid is worth $142 million pro…
CORRECTION (December 14, 1998)
A recent report about TVI Pacific Inc’s (TVI-T) plans to expand the Canatuan polymetallic project in the Philippines stated that two alternatives being considered would yield rates of return in excess…
DIAMOND PAGE — Lytton, New Indigo consider merger
Lytton Minerals (LTL-T) and New Indigo Resources (NDR-A) have resumed discussions regarding a possible amalgamation.The companies are 50-50 partners in the 684,000-acre Jericho project in the Northwes…
EDITORIAL & OPINION — GEOLOGY 101 — VMS deposits
Volcanic igneous rocks play a critical role in the formation of volcanogenic massive sulphide (VMS) deposits, which are important producers of copper, lead and zinc, as well as lesser amounts of gold …
PEOPLE — Bema Gold
Thomas Allen and Cole McFarland appointed directors.
INAP seeks solutions to acid drainage
Six Canadian companies are spearheading an effort to help control acid drainage at mining projects.Majors Placer Dome, Inco, Noranda, Teck, Rio Algom and Falconbridge are among 17 companies that forme…
Potash gets boost in Argentina
Argentina has been chosen as the site of a branch office of the Potash and Phosphate Institute of Canada.The new office, situated in Buenos Aires, is intended to improve access to South American marke…
Inuvialuit get reprieve from Senate
An aboriginal group from Canada’s Northwest Territories is continuing its efforts to amend the boundaries of a proposed park covering a portion of their territory believed to be prospective for nickel…
Inmet suspends mining at Winston Lake — Reserves to be recalculated during 3-month review period
With zinc prices remaining low and a newly developed ore zone failing to live up to expectations, Inmet Mining (IMN-T) is suspending operations at its troubled Winston Lake zinc-copper mine on the nor…