Lac continues work at Red Mountain
The Red Mountain gold-silver project near Stewart, B.C., is the best prospect in Canada for Lac Minerals (TSE), according to Michael Bates of Lac North America. The project was the scene of considerab…
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Minera gets prospectus receipt
The Ontario Securities Commission has issued a receipt for a final prospectus of 8 million special warrants of Minera Rayrock (TSE). Proceeds from the sale will be about $20 million, which Minera will…
Consolidated Nevada issue
Financing for the Nixon Fork gold project in west-central Alaska is close at hand. Consolidated Nevada Goldfields (NASDAQ) plans to offer a private placement of up to $25 million in convertible debent…
Roycefield drills antimony-gold bet
Drilling by Roycefield Resources (ASE) on the Central zone of the Beaver Brook antimony-gold prospect in central Newfoundland has delineated reserves of 134,000 tons averaging 5.76% antimony and minor…
LATIN AMERICAN SPECIAL — Foursome in trading bloc
Billed as “the next international trade opportunity,” Canadians are beginning to pay attention to the new Mercosur trading bloc — the trade initiative of Argentina, Brazil, Uruguay and Paraguay — an…
LATIN AMERICAN SPECIAL — Vat leach facility planned for
Construction of a vat leach plant near Tureremo, in Venezuela’s Kilometre 88 gold area, should soon be under way and be operational by this spring, NovaGold Resources (TSE) reports. Featuring low capi…
LATIN AMERICAN SPECIAL — Cuban economy needs major shot in
It is oft-forgotten that Cuba’s economy did not enter the current crisis in good trim. Between 1986 and 1990, Cuba’s gross social product (GSP) declined by an average of 0.2% per annum, while populati…
LATIN AMERICAN SPECIAL — Colombia attracts Canadian miners
Long known as one of the world’s leading emerald producers, Colombia is now emerging as a location for renewed gold exploration. This is due to two factors: one is that little of the country has been …
LATIN AMERICAN SPECIAL — Production, exploration advance in
Central America continues to attract Canadian mining companies with offers of comparatively relaxed regulation and taxation, along with above-average geological potential. Countries such as Panama, Ni…
LATIN AMERICAN SPECIAL — Mexico a world supplier of silver
Silver in Mexico, since pre-Hispanic times, has been considered a precious metal. The quality and abundance of Mexican silver has brought many a fortune to ambitious souls and has supported Mexico thr…
Cyprus acquires Cerro Verde mine
Cyprus Climax Metals, a wholly owned subsidiary of Cyprus Amax Minerals (NYSE), has acquired 91.5% of a government-owned company which operates a copper mine in Peru. The 20-year-old Cerro Verde mine …
LATIN AMERICAN SPECIAL — Private investment in developing
Recent years have seen a major and continuing transition from state control of production facilities to private ownership. This trend has been visible in both industrial and, especially, developing co…