Partners secure Refugio financing
Banks have agreed to finance the Refugio gold project in northern Chile. Chilean approval for the drawdown of a US$85-million gold loan is expected before the new year. The capital cost is estimated a…
News
Demand helps buoy metal prices
Physical supply, robust demand, speculation and slowly dwindling stock levels continue to underpin virgin metal prices. Producers, indicating that they see nothing to slow it down, are naturally happy…
Trillion drills Jena mines complex
The Jena Mines complex in Zimbabwe has undergone the first phase of a 16,000-metre program of surface drilling. Trillion Resources (TSE) says 15 holes, totaling 4,460 metres, have extended the Stump o…
Richmont issuer bid
Junior Richmont Mines (TSE) believes its shares are undervalued and has taken action to reverse the situation. The company has notified the Toronto and Montreal stock exchanges that it intends to make…
Ferrous scrap market changing
A major structural change to the volatile market for ferrous scrap will occur during the next 10 years, according to a study on scrap and scrap substitutes by CRU International of London. Increased st…
NEWS ROUNDUP — Armeno closes San Bartolome
Continuing operating losses at the San Bartolome mine in Ecuador have prompted owner Ag Armeno Mines & Minerals (VSE) to wind up the operation. The mine is held by a wholly owned subsidiary of the com…
NEWS ROUNDUP — Sharpe, Freewest program
Drill-testing is planned for the Jump River project in north-central Wisconsin. The objective is to test for possible extensions of the Bend and Horseshoe deposits and to test nearby geophysical condu…
NEWS ROUNDUP — Bolivar cuts Cuban deal
An agreement with the Cuban government gives Bolivar Goldfields (VSE) a half interest in the exploration and development of four concessions in that country. The properties comprise more than 7,900 sq…
METAL PRICES (December 05, 1994)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne…
NEWS ROUNDUP — Minefinders options property
Toronto-based Minefinders (VSE) can obtain the Lista Negra silver property in Mexico’s Sonora state. Sampling by means of a hammer percussion drill has returned up to 23.05 oz. silver per ton from a s…
NO HEADLINE (December 05, 1994)
Price (US) Week’s Change Gold* $382.35 ” $2.15 Silver* $5.08 ” $0.09 Platinum* $409.60 ” $0.90 Nickel** $3.64 + $0.20 Lead** $0.29 ” $0.01 Copper $1.36 + $0.10 Zinc $0.51 ” $0.01 Courtesy of Scotiaban…
Kinross, Kassan focus on Tanzania
Two companies — Kinross Gold (TSE) and affiliated junior Consolidated Kassan Resources (VSE) — have completed a share purchase and option agreement with East African Mines (EAM), a private company t…