Holloway below expectations
The current slump in gold prices is taking its toll on Teddy Bear Valley Mines (TBY-T), the 15.35% owner of the Holloway gold mine in northeastern Ontario.Operated by Battle Mountain Canada (BMC-T), w…
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LME WAREHOUSE LEVELS (February 02, 1998)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Jan.27/98 (change from Jan. 20 in brackets):MetalStock(tonnes)Change…
Quest Int’l to explore Djibouti
Quest International Resources (QIX-T) and its private partner, Seven Stars Minerals, have signed an agreement with Djibouti for the exploration of mineral resources in this small East African nation.S…
Drilling continues at Vueltas del Rio
Infill drilling at one of the two main zones of the Vueltas del Rio gold project in northwestern Honduras continues to intersect impressive mineralization for property owner Geomaque Explorations (GEO…
Eskay Creek replaces reserves — More ounces than at mine’s 1995 startup
An aggressive surface and in-mine exploration program at Prime Resources Group’s (PRU-T) Eskay Creek gold-silver mine in northern British Columbia has surpassed its objective of replacing all the rese…
Two miners die in rockfall
Two miners died in a recent rockfall at the Quinsam coal mine, 22 km north of Campbell River, B.C.Hillsborough Resources (HLB-T) reports that three miners were trapped when the tunnel in which they we…
Mispec outlines resource at Jampang
Operator Mispec Resources (MPE-M) has calculated a resource for three closely spaced zones on its Jampang gold property in West Java, Indonesia.The combined resource for the Lipi, Pasir Keusik and Put…
Noranda deal
ignites takeover talkNoranda (NOR-T) has agreed to sell its interest in Norcen Energy Resources Group to U.S.-based Union Pacific Resources Group for $1.8 billion in cash.Noranda owns 92.6 million sha…
Goldtex Resources, Canadian Mountain to merge
Talks between Canadian Mountain Minerals (CYM-A) and Goldtex Resources (GXR-A) have led to an agreement that will see the two companies merge.The merger agreement has yet to be approved by shareholder…
Etruscan to sell property
The Hackett River base metal property is about to change hands.NovaGold Resources (NRI-T) has announced plans to acquire Hackett River Resources, which has a 53% interest in the property, situated 400…
Junior active in Congo
Newly listed Magnesium Alloy (MGAC-C) has set its sights on becoming a major producer of magnesium metal.Toward that end, the junior has acquired two exploration permits in the Kouilou region of the D…
Placer Dome takes US$247-million writedown
Low bullion prices have induced Placer Dome (PDG-T) to take an after-tax writedown of US$247 million, or US99cents per share.The Vancouver-based major will record an unaudited loss for 1997 of US$260 …