Tri Origin raising $3.7 million
A private placement of 1.2 million units of Tri Origin Exploration (TSE) is expected to raise $3.7 million. The proceeds will finance drilling on the Lewis Ponds project in New South Wales, Australia….
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Trillion acquires Botswana licences
Ottawa-based Trillion Resources (TSE) has acquired 13 prospecting licences in southwestern Botswana. The area comprises 11,357 sq. km in the Kalahari district and can be explored for gold, base metals…
EDITORIAL PAGE — Left out in the cold
Last week’s agreement between the U.S. and Russia over uranium imports into the U.S. is a slap in the face to Canadian producers. It is also a violation of the Canada-U.S. Free Trade Agreement (FTA). …
Government of Ghana reducing Ashanti stake
The parliament of Ghana has authorized the government to privatize gold producer Ashanti Goldfields. Minister of Finance and Economic Planning Kwesi Botchway told Agence France Presse in Accra that “t…
Falconbridge share issue pondered
The joint owners of Falconbridge, Noranda (TSE) and Swedish-based Trelleborg are investigating the possibility of a treasury issue of common shares of Falconbridge. Proceeds would be used to reduce de…
American Gem completes financing
Toronto-listed American Gem has issued to European investors 1.5 million shares at $3.88 per share. Proceeds from the $5.8-million offering will be used to make property payments and develop the Monta…
NEWS ROUNDUP — Santa Fe options Globex ground
By spending $2 million on exploration and paying $300,000 cash, Santa Fe Canadian Mining will earn a half interest in Globex Mining’s (ME) Victoria gold project. Situated in Clericy Twp., Que., the pr…
NEWS ROUNDUP — Annabel to explore Wyoming bet
Vancouver-listed Annabel Gold Mines has raised $700,000 to explore the Carissa mine property near South Pass City, Wyo. The mine is owned by Hol-Lac Gold Mines (CDN). Since its discovery in 1867, 30,0…
STOCK MARKETS — Silver overlooked but it’s moving too
While investor interest has mostly been focused on gold, the price of silver has run up quite nicely recently. During this report week, for example, the price rose US17 cents to US$5.59 per oz. Slight…
STOCK MARKETS — Higher gold price can’t shake western
With gold near a 2-month high, at just below US$390 per oz., even the recent steep jump in the bank rate failed to shake western markets. The Vancouver Stock Exchange resource index shot up 58.85 poin…
MSV tests revolutionary profit-sharing plan
At $17.42 an hour, the average wage here for an underground miner is still well above that paid to industrial workers in Canada. But for the 290 unionized employees of MSV Resources (TSE), it represen…
NEWS ROUNDUP — Rayrock buys out Dee mine partners
Toronto-listed Rayrock Yellowknife Resources plans to increase its ownership in the Dee gold mine to 100% from the current 44% It will buy a 44% interest from Corona Gold, a wholly owned subsidiary of…