Homestake makes bid for remainder of Prime
San Francisco-based Homestake Mining (HM-N) has made an offer to acquire the 49.4% of Prime Resources Group (PRU-T) that it does not already own.The deal would see Prime shareholders exchange each of …
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Rayrock Yellowknife wraps up takeover of Minera Rayrock
Rayrock Yellowknife Resources (RAY-T) has succeeded in its bid to take over affiliate Minera Rayrock (MRN-T).Rayrock, a Toronto-based gold and copper producer, had held a 37.5% interest (19.1 million …
EDITORIAL — Mining traditions worthy of respect — Staking our claim
At Inco’s 1997 annual meeting in Toronto, an aboriginal spokesman stood up and warned shareholders that their $4.3-billion investment in the Voisey’s Bay project was a mere “paper investment” insofar …
SUPPLIERS NEWS ROUNDUP — Satellite firms win business award
Richmond, B.C.-based Radarsat International and Rockville, Md.-based Earth Satellite have won a Canadian-American Business Achievement Award, in recognition of their remote sensing partnership.The awa…
MINING MARKETS & INVESTMENT NEWS — Tenke engaged in joint-venture negotiations
With the feasibility study for Tenke-Fungurume nearing completion, Tenke Mining (TNK-T) is negotiating with major companies interested in participating in the huge copper-cobalt project in the Democra…
MINING MARKETS & INVESTMENT NEWS – EASTERN MARKETS — TSE coasts as metal miners fall on weakened prices
The Toronto Stock Exchange 300 index lost 36.42 points over the May 20-26 report period, finishing the week at 7,625.96.The big news of the period was gold’s plunge to US$292.60 per oz. on the morning…
William Resources sinks deeper into red
Despite having boosted overall gold production in 1997, William Resources (WIM-T) ended up deeper in the red.The mid-tier gold producer lost $77.5 million (or $1.58 per share) on revenue of $94 millio…
New association to fight for land rights
Beginning with land-use planning in Ontario and then reaching out across the continent, the fledgling North American Mining Association (NAMA) has set out to co-ordinate the advocacy efforts of all se…
Truck accident begets cyanide spill
An accident involving a truck on its way to the Kumtor gold mine in eastern Kyrgyzstan is causing headaches for Cameco (CCO-T) and may lead to a lawsuit or criminal proceedings.The truck, which was ca…
WESTERN MARKETS AND INVESTMENT NEWS – WESTERN MARKETS — South Voisey’s Bay juniors’ stocks hit hard
The Vancouver Stock Exchange composite index was off 1.5%, or 9.26 points, closing at 614.57 over the holiday-shortened report period ended May 19. The mining index slipped 10.07 points, or 2.1%, to f…
GOLD AND PRECIOUS METALS — Anzex drills for platinum in New Zealand
Anzex Resources (AZX-V) has initiated a drill program at its wholly owned Longwood project on New Zealand’s South Island.Anzex’s exploration licence covers the entire Longwood igneous complex, which t…
EDITORIAL — Training and technology not dirty words — Intellectual elitism
Bill Graham, president of the Canadian Association of University Teachers (CAUT), believes students are humanized by understanding philosophy, ancient history, or paintings on ancient Greek vases. Unf…