Fording Coal enters trade agreement in Thailand
The federal government’s recent 2-week trade mission to Asia, which included provincial leaders and business leaders, has resulted in a multi-million-dollar deal for Fording Coal.The Calgary-based com…
News
Mineral Resources’ bid on hold
Checked in its bid for a 32% stake in Anvil Range Mining (ARO-T), Mineral Resources (MIC-T) says it has been “forced to re-evaluate” its offer for outstanding shares of the company.Mineral Resources m…
Lyon Lake resumes drilling in Costa Rica
Montreal-based Lyon Lake Mines (LLL-M) has resumed drilling at its Canamazo gold concession in Costa Rica.The new campaign will include 5,000 metres of reverse-circulation drilling, with the first 1,2…
AFRICA SPECIAL — NEWS ROUNDUP — Hymex recovers 24.7-carat diamond
During 1996, Hymex Diamond (HMD-V) produced 21,552 carats of diamonds from its alluvial mining operations in Guinea, West Africa. The diamonds are currently being sold by auction in Antwerp, Belgium.T…
AFRICA SPECIAL — Pan African Res. to increase mineral exploration in Gabon
Having sold an 80% stake in the Eteke permit in Gabon, Pan African Resources (PARC-C) intends to step up the pace of exploration at its Kolissen property in the central portion of that African nation….
AFRICA SPECIAL — TNK tests Gope prospect
Toronto-based TNK Resources (TNKR-C) has discovered a kimberlite pipe at its 100%-owned Gope prospect in central Botswana.The company tested five geophysical and kimberlitic indicator mineral targets …
AFRICA SPECIAL — Cyprus Amax is winner in first ZCCM privatization
As a test drive of Zambia’s privatization policy, Zambia Consolidated Copper Mines (ZCCM) has accepted a bid of US$28 million from Cyprus Amax Minerals (CYM-N) for an 80% interest in the Kansanshi cop…
AFRICA SPECIAL — NEWS ROUNDUP — Samax funds African exploration
A recent financing has netted $2.3 million, to be used by Samax Gold (SMX-T) to explore its extensive portfolio of gold mining and exploration projects in Tanzania, Ghana, Congo and Senegal.The newly …
Gran Colombia takes stock of Echandia
Drilling at the Marmato property in Colombia has encountered additional gold mineralization.The discovery by Gran Colombia Resources (GRM-T) follows a 17-hole diamond drill program which spanned 4,094…
AFRICA SPECIAL — SouthernEra funds fissure project
A financing agreement is expected to provide SouthernEra Resources (SUF-T) with funds to develop the Klipspringer diamond project in South Africa.Proceeds of between $7.7 million and $15.5 million wil…
AFRICA SPECIAL — Banff seeks funds for Ugandan copper projects
A financial adviser has been retained by Banff Resources (BFF-V) to negotiate US$66 million of debt financing for the company’s Kasese and Kilembe projects in Uganda.An equity fiancing is also being c…
AFRICA SPECIAL — Bombore gold project undergoes drilling
In Burkina Faso, partners Channel Resources (CHU-V) and Solomon Resources (SRB-V) have begun the first phase of reverse-circulation (RC) drilling on their Bombore project.The work is focused on an ano…