Northern Platinum takes on Wellgreen
Junior Northern Platinum (VSE) has been granted a 1-year extension on an expenditure deadline on the Wellgreen property in the Yukon. The company now has until Nov. 30, 1995, to spend $200,000 on expl…
News
Cons. Bonanza buys gold mine in Mozambique
Alberta-listed Consolidated Bonanza Metals (ASE) will buy a gold mine in Mozambique and undergo a name change. In addition to acquiring the producing Monarch gold mine near Manica, Bonanza will gain c…
Minieres du Nord to drill Isle-Dieu
Montreal-listed Explorations Minieres du Nord has drafted an exploration program for its Isle-Dieu gold-copper property near Matagami, Que. Thirteen holes totaling 2,380 metres will be drilled on the …
Detector drilling at Pistol Lake
Diamond drilling has begun on Detector Resources’ (ASE) Pistol Lake gold project, 90 km west of Thunder Bay, Ont. The 1,300-metre, 6-hole program will attempt to define the downdip extension of the Co…
Caledonia acquires two South African producers
Toronto-listed Caledonia Mining has completed transactions to acquire two companies with operating gold mines in South Africa for a total of $49.1 million. Caledonia can acquire a 100% interest in Bar…
NEWS ROUNDUP — Tandem boosts holdings in NAR
Junior Tandem Resources (ME) has increased its interest in NAR Resources (ME) to 34.5% from 30.1%. Tandem subscribed for 120,000 shares of NAR, paying 50 cents per share, or $60,000 in aggregate. Afte…
PRODUCER PRICES (December 26, 1994)
ALUMINUM: MW U.S. market US89.5 cents-90.5 per lb. (Dec. 9, 1994). ANTIMONY: MW New York dealer US$2.80-2.90 per lb. (Dec. 2, 1994). BISMUTH: MW New York dealer US$3.90-4.20 per lb. (Oct. 27, 1994). C…
Barrick options Michaud-Nufort
Mining giant American Barrick Resources (TSE) can earn a 60% interest in the Michaud-Nufort property in northeastern Ontario’s Michaud Twp. The company may earn this interest by paying $400,000 cash a…
COMMENTARY — Cameco recycling; coal clean-up
Construction is under way on a recycling plant at uranium producer Cameco’s Blind River, Ont., refinery. The $10-million plant will take liquid byproduct from the refining process and convert it into …
Production woes at Colomac
Production problems at the Colomac mine north of Yellowknife, N.W.T., have prompted owner Royal Oak Mines (TSE) to downgrade its overall 1994 production forecast for the four gold mines that it owns. …
Amayapampa drill program disappoints
Drilling on the Amayapampa gold project in Bolivia is returning lower grades outside the area of historic and active workings. Past and present mining on the property focused on small-scale, undergrou…
NEWS ROUNDUP — Echo Bay gets poison pill
Shareholders of Echo Bay Mines (TSE) voted 75.6% in favor of a rights plan. The shareholders rights protection plan, also known as a “poison pill,” is designed to thwart a hostile takeover by increasi…