Lac to triple reserves in next five years
For gold and base metal producer Lac Minerals (TSE), 1993 was a year with mixed results. Attempts to reduce cost and increase productivity were offset by after-tax provisions associated with mine clos…
News
T & H buys stake in cement plant
Toronto-based T & H Resources (TSE) intends to acquire at least a 49% interest in the Shuangyang cement plant in northeastern China. It will buy the interest from Imperial Investment, subject to a due…
Battle Mountain starts expansion plan
In the first quarter, Battle Mountain Gold (NYSE) had a consolidated net income of US$2.8 million on revenues of US$52.8 million. This compares with a net loss of US$3.2 million on revenues of US$60 m…
Noranda convicted in mine fatality
A sentencing hearing has been scheduled for May 31 to deal with the conviction of Noranda Minerals on three violations of the Occupational Health and Safety Act. The conviction stems from a 1991 fatal…
Canyon free to put Briggs in production
Having consulted with Congress on the proposed California Desert Wilderness Bill, Canyon Resources (NASDAQ) can now proceed with development of its Briggs gold project. It has been determined that the…
Getty expands copper holdings
Getty Copper (VSE) is expanding its property holdings in Highland Valley near Kamloops, B.C. Under an agreement with Robak Industries, the company will earn a half interest in four concessions: Getty …
Despite strike, Porgera producing
Gold production is continuing at the Porgera mine in Papua New Guinea (PNG), despite a strike by members of the Porgera Mining and Allied Workers Union. The dispute, over wage and other employment ben…
U.S. gold reserve an open secret
The U.S. gold reserve is one of Washington’s “open secrets.” The Treasury’s open attitude about the status of the reserve can be attributed to three factors: * The U.S. gold reserve is owned and manag…
Thompkins plans book signing
Author R.W. Thompkins will be autographing copies of his new book, The Richest Canadian, at the Toronto ’94 conference, to be held in early May at the Metro Toronto Convention Centre. Thompkins, emeri…
PEOPLE — ADVANCED PROJECTS
Andrew Milligan appointed president and director; James Carter, Victor Erickson and David Jennings appointed directors.
Hot hole reported from Damoti Lake play
Drilling on the Damoti Lake project north of Yellowknife, N.W.T., has returned the highest-grade hole to date. Hole D-43 intersected 6.7 ft. (from 271.0-277.7 ft.) grading 0.26 oz. gold per ton plus a…
Massive Alberta land position — Lac Minerals pools ground
Major gold producer Lac Minerals (TSE) says it has reached an agreement in principle with Tintina Mines (TSE) and NSR Resources (TSE) to pool land holdings totaling 11,000 sq. miles in the Ft. MacKay …