Golden profit at Cambior
Substantially increased gold production in 1993 helped Cambior (TSE) record its highest revenue since the company’s inception in 1986. Gold output rose 46% to 518,083 oz. last year and revenue was 50%…
News
Mineral investments in China
China represents one of the last great frontiers for mining companies looking for global possibilities, says Metals Economics Group in China: Emerging Minerals Opportunities. The study cites three fac…
NEWS ROUNDUP — Quartz Mountain put on hold
The Quartz Mountain project has been put on hold because of technical and permitting problems, compounded by a lower gold price than expected. The project, in southern Oregon, is owned 50-50 by Toront…
NEWS ROUNDUP — Deak adds reserves to the Kerr mine
Exploration and development have resulted in increased reserves at the Kerr mine in northeastern Ontario. Past estimates of 2.2 million tons at 0.124 oz. gold per ton have been augmented by 459,000 to…
NEWS ROUNDUP — Lenora obtains new Yemeni licence
Junior Greater Lenora Resources (TSE) has cancelled plans to explore 237 sq. km near Aden, the capital of South Yemen. Instead, it has obtained an exploration licence for 73 sq. km in the west-central…
Financing plans for Mariquita
Development will soon begin on the Mariquita copper deposit in northwestern Mexico. A Mexican company held 49% by Cominco Resources International (TSE) and 51% by Empresas Frisco will acquire the depo…
Reserve increase at Prairie Creek
By incorporating results from last year’s drill program, San Andreas Resources (VSE) has beefed up reserves at its Prairie Creek property. Situated west of Yellowknife, N.W.T., the deposit is now esti…
`Unsuitability’ clause could trigger litigation —
Concern over proposed changes to the U.S. Mining Law lent a tone of apprehensiveness to a major mining conference held recently in this southwestern American city. More than 3,700 delegates attended t…
Metall withdraws Int’l Musto bid
In what appears to be the final play in its bid for a stake in the Bajo de la Alumbrera project, Metall Mining (TSE) has withdrawn its bid for all the shares of International Musto Explorations (TSE)….
Correction (February 28, 1994)
Funds raised by Altai Resources (TSE) through a 100,000-share private placement at $3 per share (T.N.M., Jan. 31/94) will be used for seismic survey work on gas permits in Quebec. Altai has interests …
NEWS ROUNDUP — Francisco adds to treasury
Armed with more than $8 million from a private placement, Francisco Gold (VSE) is stepping up exploration in Mexico and Venezuela. The placement includes 2.5 million special warrants at $3.33 each. Th…
NEWS ROUNDUP — $10 million for Manhattan
A $10-million private placement will enable Manhattan Minerals (VSE) to explore and develop three properties in Mexico. Most of the proceeds ($6 million) will be spent on the Moris gold project in the…