Newmont hurt by gold price
Proven and probable reserves for Newmont Gold (NGC-N) at the end of 1997 stood at 52.7 million oz. gold, down 5% from the previous year.The apparent decline is a function of the gold price used to cal…
News
Minorca buys Canarc shares
Minorca Resources (mar-t) has purchased a $1-million private placement in Canarc Resource (CCM-T), consisting of just over 1.3 million shares at 75cents each.Minorca has also acquired 800,000 addition…
Noranda options Caber
The exploration arm of Noranda (NOR-T) has signed a deal with Southern Africa Minerals (SAF-T) to earn a 55% interest in the Caber base metal property, situated near Matagami, Que.For its interest, No…
Quebec seeks tougher mining regs
Prompted by the Bre-X Minerals debacle, the Commission des valeurs mobiliers du Quebec (CVMQ) has introduced new regulations designed to boost the credibility of mining companies in the Quebec securit…
Index (March 23, 1998)
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NEWS IN BRIEF (March 23, 1998)
Jersey Goldfields (JRG-V) has changed its name to Jersey Petroleum (JPI-V)
Wheaton River advances Bellavista
Wheaton River Minerals (WRM-T) has received encouraging results from column-leach tests on two composite samples taken from its Bellavista gold deposit in Costa Rica.The Toronto-based company, which o…
Falco shutting Kidd copper smelter for two weeks
Falconbridge (FL-T) will close its Kidd Creek smelter for two weeks at the end of March as a result of lower copper production and prices.Production at the Kidd Creek operation, which consists of thre…
Kemess costs plague Royal Oak — Company may restructure debt or issue shares to finance mine
A sizable cost overrun at the Kemess gold-copper project in north-central British Columbia has pulled Royal Oak Mines (RYO-T) into troubled financial waters.The company recently announced that its cap…
CCAA: Bankruptcy Act lite
.BGUEST COLUMN/Bruce LeonardThe recent market decline has significantly impacted resource companies.Downsizings, closures, layoffs and reduced levels of operations have all made their mark. However, w…
PEOPLE — ORCANA RES.
John Tait appointed chairman. John Hedges, Henry Sandri and Paul Ankcorn appointed directors.
LETTERS TO THE EDITOR — Minister should get serious
At the recent Prospectors & Developers Association of Canada convention in Toronto, I had the opportunity to hear the Honourable Chris Hodgson, minister of Northern Development and Mines for the provi…