NEWS ROUNDUP — Noranda to drill Dileo Lake play
Late this summer, Noranda (TSE) plans to drill-test Fancamp Resources’ (VSE) Dileo Lake base metal property northeast of Chibougamau, Que. During a trenching program last summer, Noranda outlined high…
News
THE DIAMOND PAGE — Yearly output at River Ranch to exceed
Canada’s first overseas diamond producer, Redaurum (TSE), plans to increase annual production at its 50%-owned River Ranch mine in Zimbabwe to more than 400,000 carats. Earlier this year, the company …
Willoughby results shine for Gold Giant, Camnor
Drilling on the Willoughby property east of Stewart, B.C., is returning gold values for Gold Giant Minerals (VSE) and Camnor Resources (VSE) Camnor is earning a half interest from Gold Giant by spendi…
STOCK MARKETS — Surging gold sector fails to ignite TSE
Despite a strong performance in the gold sector, the Toronto Stock Exchange could manage only a meagre gain during the report period ended Sept. 6. The composite 300 index edged upwards by 13.46 point…
Stronger gold price recorded in first half
The first half of 1994 was a period of consolidation in the international gold market, in which players adjusted to a higher price range, according to Gold 1994 — Update I, compiled by Gold Fields Mi…
Bonus plans favored by U.S. metal mines
Metal mines in the U.S. outpaced coal mines in 1993 in incentive bonus plan implementation, according to a compensation survey by Mining Cost Service of Spokane, Wash. Incentive bonus plan utilization…
PRODUCER PRICES (September 12, 1994)
ALUMINUM: MW U.S. market US71.5-72.5 cents per lb. (Aug. 25, 1994). ANTIMONY: MW New York dealer US$2.35-2.50 per lb. (July 21, 1994). BISMUTH: MW New York dealer US$3.75-4.25 per lb. (July 28, 1993)….
PEOPLE — GREATER LENORA (September 12, 1994)
Charles Pitcher appointed president and chief operating officer.
Gibraltar drops Mount Polley option
Having carried out a first phase of work, Gibraltar Mines (TSE) has decided not to proceed with the second phase of its option on the Mount Polley copper-gold project in central British Columbia. The …
Drill program ongoing at East Ingerbelle deposit
With the Similco copper mine back in production, Princeton Mining (TSE) is continuing a drill program aimed at increasing the tonnage and grade of the Ingerbelle East deposit, situated 4,000 ft. south…
NEWS ROUNDUP — Falco Dominicana enters agreement
Ferronickel producer Falconbridge Dominicana has signed an amending agreement with the government of the Dominican Republic reinstating the company’s tax rate of about 50%. The company is owned 85.26%…
Sherritt notes
The outstanding zero coupon convertible subordinated notes of Sherritt (TSE), due in the year 2011, were redeemed Sept. 1 by the company. The aggregate redemption price was about $65.3 million. The re…