Greenstone moves into black in first quarter
Greenstone Resources (GRE-T) is continuing its drive towards opening four mines in Central America in just three years. And, having nearly doubled its mining revenues over the past year, the company m…
News
Ag Armeno takes up option on Batu Hijau
In an agreement with Indonesian industrialist Jusuf Merukh, Ag Armeno Mines & Minerals (AGM-V) has taken an option to buy an 18% interest in the Batu Hijau gold deposit on Sumbawa Island in Indonesia….
Borneo Gold begins drilling at Bunut
Toronto-based Borneo Gold (BNO-V) has begun an initial 5,500-metre diamond drilling program at its Bunut gold project in West Kalimantan, Indonesia.The company holds a 90% interest in a seventh genera…
Yamana expands Lejano discovery
Yamana Resources (YRI-T) reports that new assay results from drilling in Patagonia have extended the area of known mineralization at the Lejano silver-gold prospect, part of Yamana’s Santa Cruz projec…
Oroperu looks to enhance Nueva Condor
Oroperu Resources (OROP-C) has reported encouraging operating results from its recently acquired Nueva Condor polymetallic mine, near Lima, Peru.The operation entered production in early 1998 and earn…
Laramide finances program
Toronto-based Laramide Resources (LAM-T) will finance exploration work on its Bilbao polymetallic property in central Mexico by drawing on funds raised in a private placement.Proceeds of $300,000 will…
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — Dow and gold continue slide
The Dow Jones Industrial average lost 72.49 points, or 0.8%, during the May 27-June 2 report period to close at 8,891.24. Gold producers also lost ground as the price of the yellow metal continued to …
Companies (June 08, 1998)
Ag Armeno Mines & MineralsAlberta EnergyAmerican Bullion MineralsAnglo AmericanArchon MineralsAshton Mining of CanadaAsia Pacific ResourcesAvminBlack Hawk MiningBMR GoldBorneo GoldBroken Hill Propriet…
London silver fix procedure altered
For the first time since its establishment in the 1890s, the London silver fix has undergone significant procedural changes.The changes, which took effect June 1, stipulate that all orders are to be c…
MOST ACTIVE ISSUES, May 27-June 2
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Prime shareholders unhappy with Homestake bid
Concerned that Homestake Mining (HM-N) has made a low-ball bid for the 49.4% interest of Prime Resources Group (PRU-T) that it does not already own, several shareholders spoke out against the offer at…
GEOLOGY 101 — Diamond deposits, Pt. 2
Diamonds fall into one of four categories. They are, in order of decreasing value: gem, near-gem, industrial and boart. Individual diamonds are measured in carats (1 carat equals 0.2 gram), whereas th…