DIAMOND PAGE — Namibian Minerals raises $17m
By issuing 2 million special warrants, Namibian Minerals (TSE) has raised $17 million for exploration and development of its diamond concessions off the coast of Namibia.Each special warrant, sold for…
News
MOST ACTIVE ISSUES, June 26-July 2
ExchgVol(000s)CloseIndochina GldfT551911.20TVX Gold IncT…
Phelps Dodge eyes Suaqui Verde
An agreement between Azco Mining (AZC-T) and Phelps Dodge (PD-N) will allow for exploration of the Suaqui Verde copper deposit in Mexico’s Sonora state.Phelps Dodge can earn a 70% interest in a joint-…
Goldcorp adds to reserves at Red Lake mine
Ongoing drilling at Goldcorp’s (G-T) mine in Red Lake, Ont., has outlined an additional resource of 300,000 oz. in the lower levels.Drilling has been concentrated on extending the known mineralized zo…
Merger of Rea, American to yield 200,000 oz. gold
Shareholders have approved the merger of American Resource (AREE-Q) and Rea Gold (REO-T), paving the way for the creation of a new, mid-tier gold producer.James Hogan, now chairman (formerly president…
STOCK MARKETS — Western markets take a holiday breather
Over the holiday-shortened report period ended July 2, the Vancouver Stock Exchange composite index closed down 26.85 points at 1,226.19, while the resource index fell 70.15 points to finish at 2,196….
Gold Funds (July 08, 1996)
Gold Funds as of June 27, 1996BGRCentralNet Value$23.76$6.46Price$18.70$6…
Eldorado shareholders OK Gencor transaction
Shareholders of Eldorado Gold (ELD-T) and exploration affiliate HRC Development (HDC-V) have approved an equity-for-asset swap with Gencor, a South African-based international mining conglomerate.Eldo…
Scotland to open first gold mine
Scotland will soon join the ranks of gold producers, as Caledonia Mining (CAL-T) prepares to cut the ribbon on its US$11-million Cononish underground gold mine.Situated near the town of Tyndrum in the…
VenCan moves into central Honduras
Junior VenCan Gold (VCG-M) has acquired an exploration concession, featuring several old workings, near the mining town of El Rosario in central Honduras.This month, VenCan will map and sample the Opo…
ODDS’N’SODS — This gun for hire
The Aunor gold mine, situated four miles from Timmins, Ont., and nestled between two medium-sized producing mines, attracted many job applicants when the 600-ton-per-day mill started up in January 194…
DIAMOND PAGE — Archangel reports more results from Russia
At the Verkhotina diamond project in northwestern Russia, Archangel Diamond (AAD-V) is carrying out delineation drilling on the newly discovered kimberlite pipe 441.The first hole of the evaluation pr…