SPOT PRICES (February 01, 1999)
Wednesday January 27, 1999Price (US)Week’s ChangeGold*$285.900.00Silver*$ 5.08…
News
AFRICA — Ashanti pays off financing, holds down debt
Through a restructuring of its hedging policy, Ashanti Goldfields (AHD-T) has paid off project financing at its two newest gold mines.The Ghana-based company closed out forward sales and put options, …
AFRICA — Fighting in Sierra Leone foils Nord’s production efforts
Nord Resources (NRD-N) has broken off negotiations with the government of Sierra Leone for the reopening of the Sierra Rutile operation after a rebel offensive on the capital city of Freetown plunged …
Armistice board survives
Dissident shareholders of Armistice Resources (ACI-M) have failed in a bid to unseat the board of directors at the company’s annual meeting.The dissidents, led by Gordon Usher-Jones and Mark Diamond, …
Companies (February 01, 1999)
Aber ResourcesAmerica Mineral FieldsAnglo AmericanArgentina GoldArmistice ResourcesAzco MiningBarrick GoldBlackrock VenturesBlackstone ResourcesConsolidated Trilogy VenturesDe Beers Consolid…
Kinross amends offer
The terms of a previously announced merger between Kinross Gold (K-T) and La Teko Resources (LAO-T) have been amended.Under the revised terms, La Teko shareholders will receive one Kinross share in ex…
Sirios funds work at Aquilon
Following an infusion of cash, Sirios Resources (SOI-M) is gearing up for a 10-hole, 1,500-metre drilling program at its Aquilon gold property in the James Bay region of northern Quebec.In late Decemb…
Fort Knox adds to holdings
In another Newfoundland cash-and-shares deal, junior explorer Fort Knox Gold Resources (FNX-T) has taken an option on a gold exploration property 60 km north of Gander.The agreement gives Fort Knox th…
‘Shifting sands’ theme of CIM/MES symposium
Few industries are as cyclical as mining, or as fraught with technical, social and environmental challenges. To help mining professionals manage risks and meet changing expectations, the Canadian Inst…
MOST ACTIVE ISSUES (January 25, 1999)
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Cross Lake reviews program
Cross Lake Minerals (CRN-V) has completed the final three holes of a 6-hole drilling campaign at its Sheraton-Timmins polymetallic property near Timmins, Ont.Though all three failed to intersect signi…
Troubles halt McClean Lake
The Atomic Energy Control Board’s decision to defer approval of a tailings management facility at the McClean Lake uranium project in northern Saskatchewan has caused project operator Cogema Resources…