Strong new powers recommended for OSC
A task force studying the Ontario Securities Commission (OSC) is recommending broadening the regulator’s powers. The changes would allow the OSC, which oversees Canada’s largest securities market, to …
News
LAST BUT NOT LEAST — US$3.5-m placement for Crystallex
A US$3.5-million private placement will enable Crystallex International (VSE) to make option payments on and explore its Venezuelan gold projects. The 3-year convertible debenture will be convertible …
Princeton set to resume operations at Similco mine
The Similco copper mine near Princeton, B.C., will resume production in early August. The decision by owner Princeton Mining (TSE) reflects a 40 cents-per-lb. increase in the price of copper since ope…
Commodity index surges in May
In a surge which reflects signs of improving industrial activity in continental Europe, the Bank of Nova Scotia’s commodity price index jumped 7.2% in May. All sub-indexes increased, with base metals …
De Beers joint-ventures Yamba Lake diamond bet
De Beers Consolidated Mines has agreed to joint-venture the Yamba Lake diamond project held by Mill City Gold (VSE) and Tanqueray Resources (ASE). The agreement, which is subject to a due diligence ex…
LETTERS TO THE EDITOR — Tatshenshini video would be good
From coast to coast, Canada has never known such mineral wealth from combined copper, gold, silver and cobalt reserves as that which is indicated in the northwest corner of British Columbia. The inves…
Royal Oak offers `paper of questionable value’ — Lac strikes
A week and a half after Royal Oak Mines (TSE) made its widely publicized, hostile takeover bid, the management of Lac Minerals (TSE) has responded with a scathing critique of the offer. Speaking at a …
Cominco Res. gold discovery
Cominco Resources International (TSE) has added a new gold discovery to its exploration projects in Turkey. The find was made on the Saray property, 5 km from the Black Sea near the town of Fatsa. Com…
Campbell buys Mexican producer
Toronto-based Campbell Resources (TSE) has agreed to buy the Santa Gertrudis gold mining operation in Mexico’s Sonora state. The vendor is a subsidiary of Phelps Dodge (NYSE) of Phoenix, Ariz., which …
Test mining a success for Fairfield Minerals
Underground test mining is returning both revenue and positive results from the company’s Siwash North gold deposit in southern British Columbia. Owner Fairfield Minerals (TSE) recently sold more than…
THE LATIN BEAT — Peruvian Gold expands ground
Encouraging preliminary results from exploration of the Mont Dor leases in southern Peru have prompted Peruvian Gold to apply for a further 13,000 hectares in the area. The company’s current lease are…
Ecuadorian plans further drilling on Gaby joint venture
A second stage of prefeasibility drilling is under way on the Gaby joint venture in Ecuador. Ecuadorian Minerals (ASE) is earning a 35% interest in any oxide resource outlined and a half interest in a…