Newmont receives approval for Batu Hijau
The government of Indonesia has granted Newmont Gold (NGC-N) a construction permit for the Batu Hijau copper-gold project on the island of Sumbawa.The last week has been a tense one for the Denver-bas…
News
Copper, lead prices affect Cominco’s earnings
While zinc prices were robust during the first quarter, copper and lead prices were not, resulting in a moderate decrease in earnings for Cominco (CLT-T).The company reported a profit of $21 million (…
Bre-X files for protection from creditors — Directors resign as three exchanges delist stock
First, the gold project collapsed, then the share price. Now, Bre-X Minerals itself appears to be self-destructing.Following the damaging revelations of a technical audit on its Busang property in Kal…
Drilling begins at Adumasa project
A 2,000-Metre program of diamond drilling is under way at the Adumasa property in Ghana, a joint venture of Norcan Resources (NRE-V) and AMI Resources (AMU-V).The work will follow up on three prominen…
EDITORIAL AND OPINION — Better disclosure could have prevented fraud — The sting
Now that Strathcona Mineral Services has so stunningly discredited Bre-X Minerals and its Busang project, the fingers are pointing, and backs are being covered. We would do well to examine the logic o…
Golden Knight posts $56.1-Million loss for 1996
The $58.8-Million writedown of its 40% carried interest in the Casa Berardi joint venture resulted in a loss of $56.1 million for Golden Knight Resources (GKR-T) in 1996.The loss is considerably great…
Gold Funds (May 19, 1997)
Gold Funds as of May 8, 1997BGRCentralNet Value$21.10$5.89Price$16.00$5.8…
MOST ACTIVE ISSUES, May 7-13
ExchgVol(000s)ClosePure Gld ResT445190.48Placer DomeT…
STOCK MARKETS — Vancouver market comes out ahead as Alberta follows suit — Some Indonesia explorers gain ground; American Bullion questioned for poor showing
The Vancouver Stock Exchange posted its first winning week in six weeks, rising 32.82 points to close at 1,045.67 points for the report period ended May 13.The Alberta exchange rose 73.31 points to cl…
Cerro Colorado enters feasibility stage in Panama
Toronto-based Tiomin Resources (TIO-T) has awarded a contract to an independent engineering firm to study the feasibility of developing its Cerro Colorado porphyry copper deposit in Panama.Kvaerner Me…
ODDS ‘N’ SODS — Eldorado the beautiful, Part 2
Between early February and late June of 1939, Canadian artist and Group of Seven member Franz Johnston completed more than 100 paintings and dozens of pencil and pastel sketches at the Eldorado mine, …
Drilling planned for Cabo’s Cuban gold-Copper play
Cabo Exploration Ventures (CVE-V) is preparing to drill the Trinidad concession in south-Central Cuba.The program will begin following geophysical work, now in progress, on the San Juan and Cortinas p…