Formation reports drill results
Formation Capital (TSE) reports encouraging results from seven holes drilled in late 1995 at its Sunshine project in east-central Idaho.The holes were drilled in the previously untested Sunshine East …
News
Britannia and Bren-Mar sink decline at Lexington project
An underground exploration decline has reached the upper mineralized zone at the Lexington gold-copper project near Grand Forks, B.C.Partners Britannia Gold (VSE) and Bren-Mar Resources (VSE) report t…
Santa Fe records low profits in ’95
Santa Fe Pacific Gold (NYSE) recorded lower earnings in 1995 as a result of decreased production.The company earned US$39.8 million (or 30 cents per share) in 1995, down from US$56.7 million (46 cents…
Black Hawk and Granduc Mining sign merger deal
Black Hawk Mining (TSE) and Granduc Mining (TSE) will merge under an agreement that will also clear a large debt from the latter’s books.Each Granduc share can be traded for one share in the merged co…
Quebec benefits from higher metal prices, investment
The Canadian economy may have stumbled in the first half 1995, but Quebec’s mining industry experienced encouraging year-end results nonetheless.High interest rates at the beginning of the year, the s…
GOLD FUNDS (February 26, 1996)
Gold Funds as of Febuary 15, 1996BGRCentralNet Value$22.20$7.11Price$18.38$6.750Discount17.22%5.1%Value$173,542,000$122,170,275…
Copper, moly prices gave boost to Cyprus Amax
On the strength of higher sales and lower costs, Cyprus Amax Minerals (NYSE) reported record earnings for 1995.Excluding writedowns and special items, the company earned US$462 million (US$4.77 per sh…
COMMENTARY — Lac de Gras and the environment
Land and self-government agreements with natives in the central Arctic should be made before diamond mining begins there, urges the Canadian Arctic Resource Committee (CARC).CARC made its recommendati…
Skarn zone outlined at Rock Creek
Drilling on the Rock Creek joint venture in southern British Columbia is outlining a zone of skarn mineralization.Phoenix Gold Resources (VSE) and Orion International Minerals (VSE) jointly hold a 51%…
Coeur, Galena mines to reopen
Silver Valley Resources, a joint venture between Coeur d’Alene Mines (NYSE) and Asarco (NYSE), will reopen the Coeur and Galena silver mines near Wallace, Idaho.The former closed in 1991 as a result o…
Minefinders drills Bolsa oxide zone
Drilling at Minefinders’ (VSE) Bolsa property in Mexico’s Sonora state is testing a near-surface, highly oxidized zone of gold-silver mineralization.Mineralization has been tested over a strike length…
Goldstake grabs Indonesian ground
Shareholders of Goldstake Explorations (TSE) will meet on March 14 to approve share issues to finance the acquisition of three properties in Indonesia.Goldstake has already announced the acquisition o…