Lago, RUX announce merger plans
Junior Lago Resources (LAGO-C) and RUX Resources, a private company owned 63% by William Resources (WLM-T), have agreed to merge.William will hold a 56% stake in the new company, which will have an in…
News
Phelps Dodge nixes Peruvian agreement
The Peruvian subsidiary of Phelps Dodge (PD-N) has terminated the conditional assignment agreement on Rio Amarillo Mining’s (RIO-V) Candelaria porphyry copper project in southern Peru.The US$5-million…
Minefinders signs for Mexican concessions
Minefinders (MFL-V) has signed a letter of agreement with USMX (USM-T) to acquire 70,000 ha of mineral concessions in northern Mexico’s Sonora state.The Correo gold-copper prospect comprises a former …
Gold Funds (November 25, 1996)
Gold Funds as of November 14, 1996BGRCentralNet Value$23.09$6.19Price$18.35…
MOST ACTIVE ISSUES, Nov. 13-19
ExchVol(000s)CloseKinross GldT1042410.10Bre-X MnrlsT…
LME Warehouse Levels (November 25, 1996)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Nov.18/96 (change from previous week in brackets):Copper96,125(-13,050)Tin9,235(-345)Lead114,775(-200)Zinc534,750(-2,725)Al…
GREATEST VALUE TRADED, Nov. 13-19
ExchValue($000s)HighLowCloseChangeBarrick GoldT36…
THE DIAMOND PAGE — SouthernEra tests Sugarbird fissure
Test-pitting by SouthernEra Resources (SUF-T) is assessing the diamond potential of the Sugarbird Northern fissure, part of the company’s Klipspringer property in South Africa.Seven test-pits, each ab…
THE DIAMOND PAGE — DiamondWorks explores in N.W.T
An exploration program aimed at searching for diamonds in Canada’s Northwest Territories is the first to be undertaken by DiamondWorks (DMW-V) in North America.The company can earn up to a 70% interes…
Northern Orion drills Agua Rica
Drill results are expanding to the potential of the massive Agua Rica porphyry copper-gold-silver-molybdenum deposit in Argentina.Situated in the northwestern province of Catamarca, the project is a 3…
Corrections (November 25, 1996)
World nonferrous exploration spending rose to $3.5 billion in 1996.Incorrect information appeared in our Nov. 4 issue.
Radisson finds free gold at O’Brien
Surface exploration by Radisson Mining Resources (RDS-M) has confirmed a zone of at least three quartz veins containing free gold at the past-producing O’Brien gold mine in the Abitibi region of Quebe…