Governments sell Cameco shares
The two major shareholders of Cameco (TSE) intend to sell 2 million shares in a secondary issue. The governments of Canada and Saskatchewan say the shares will be sold at $25.50 each, on a bought-deal…
News
High-purity rare earths grow in demand
High-purity rare earths products represent an important and fast-growing market, says market analyst Roskill. Its report, The economics of rare earths 1994, states that separated rare earths claims ar…
Cumberland buys Asamera royalty
Gold explorer Cumberland Resources (VSE) acquired the 2% royalty against its interests in the Meliadine, Meadowbank and Parker Lake projects in the Northwest Territories. The company paid Asamera Mine…
COMMENTARY — Marketing clean coal technologies
The Energy Information Administration (EIA) in the U.S. expects world coal consumption to increase by 30% between 1990 and 2010, from 5.1 billion to 6.5 billion tons. Five regions stand out as major f…
Russian gold mining sector undergoes major changes
A major world gold producer for many years, Russia now ranks fifth on an international level, behind South Africa, the U.S., Australia and Canada. Russia produced about 65% of the former Soviet Union’…
Kazakhstan tailings get green light
A bankable feasibility study has been completed on the Leninogorsk gold tailings project in Kazakhstan.
Caledonia acquires Spanish gold mine
In a deal retroactive to Jan. 1, 1994, Caledonia Mining (TSE) has increased, to 83.2% from 24.8%, its interest in the Filon Sur gold mine in southern Spain. The mine, which employs 45 people, is in Hu…
MSV prepares Eastmain project for production
The owner of the Eastmain gold project in northern Quebec will receive a $3.4-million grant under a federal-provincial subsidiary agreement on mineral development. MSV Resources (ME) says the recently…
Metall expanding strike, downdip extent at Akie
Drilling on the Akie claims in northeastern British Columbia is expanding the strike and downdip extent of a recent massive sulphide discovery. Metall Mining (TSE) is earning a 60% interest in the pro…
INSIDER TRADING — Pure Gold officer exercises options and
The president of Pure Gold Resources (TSE) exercised options and sold shares in July. According to the Ontario Securities Commission’s OSC Bulletin, Donald Sheldon exercised 115,000 options at 33 cent…
Grouse Creek drilling cuts high-grade gold
Underground drilling by Hecla Mining (NYSE) has intersected several spectacular sections of gold-silver mineralization at the company’s joint-ventured Grouse Creek deposit in Idaho. One of the most im…
Cusac to reopen Michelle decline
The Michelle High Grade decline at the Table Mountain property of Cusac Industries (TSE) in northern British Columbia will be reopened. The structure was known previously as the Eileen decline; the co…