Armada and Leader in merger talks
Leader Mining International (LMN-A) has entered into talks with Armada Gold (AAU-T) for a possible merger of the two companies. However, an agreement is by no means imminent.Following an announcement …
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ODDS ‘N’ SODS — Not so sure-footed
Back in the early 1960s, I was working as a sample man at the Copper Rand mine in Quebec’s Chibougamau mining camp. The sample man’s job involved shift work, and on this particular day I was working d…
Depressed metal prices erode Noranda earnings
Though still in the black, Noranda (NOR-T) saw its second-quarter earnings dip by more than 50%.For the three months ended June 30, the major earned $28 million (10 cents per share) on revenue of $1.5…
PRODUCER & DEALER PRICES (August 17, 1998)
Aluminium: LME settlements US$1,291.50, alloy US$1,144 per tonne (Aug. 11/98).Antimony: Representative mid-market US$1,310 per tonne (Aug. 11/98).Bismuth: Representative mid-market US$3.55 per lb. (Au…
B.Y.G. busy at Mt. Nansen
At the Mt. Nansen property, north of Whitehorse, Y.T., B.Y.G. Natural Resources (BYG-T) has intersected gold porphyry mineralization near existing open-pit operations.The discovery hole bottomed in mi…
MINING MARKETS & INVESTMENT NEWS — Laramide funds program at Bilbao property
Junior Laramide Resources (LAM-T) will use proceeds of $375,000 from a private placement to explore the Bilbao project in Mexico’s Zacatecas state.The company says mapping and gravity surveying have e…
Manalta issues poison pill to delay Luscar bid
The directors of Manalta Coal Income Trust have recommended that shareholders reject a $550-million takeover bid by Luscar Coal Income Fund, approving a shareholders’ rights protection plan to delay t…
River Gold boosts profit from Canadian mines
Higher production and lower operating costs translated into a strong second quarter for River Gold Mines (RIV-T).The Canadian gold miner earned $5.5 million (or 18 cents per share) in the three months…
EDITORIAL — Champion needed for licensure — Anyone listening?
Toronto’s status as the mining finance capital of the world is in danger of being undermined unless Ontario’s geologists, geophysicists and geochemists are licensed by a professional organization with…
OBITUARIES — Richard Thompson
Richard Thompson, owner of Connors Drilling, has died. He was 48.A native of Portage la Prairie, Man., Thompson graduated from the University of British Columbia in 1972 with a bachelor of science in …
Rift adds to African holdings
A letter-of-intent agreement sets the stage for Rift Resources (RIF-V) to acquire the Adi Nefas gold and polymetallic massive sulphide deposits near Asmara in the East African nation of Eritrea.Subjec…
Crystallex to bid on mine
Orphaned by the bankruptcy of Rea Gold, the San Gregorio mine in northern Uruguay has attracted the attention of Crystallex International (KRY-T).Crystallex announced it has “established the principle…