American Bullion cancels funding
Junior American Bullion Minerals (VSE) has shelved plans for a brokered private placement of 2.5 million units at $2 each, pending completion of independent engineering reports and improved market con…
News
LETTERS TO THE EDITOR — Claims staked years earlier
The Odds `n’ Sods article “An outstanding exploration team” (T.N.M., March 14/94) refers to prospecting carried out in northwestern British Columbia by Einar Kvale and Tom McQuillan, reportedly in the…
Newmont merger approved — Yanacocha expansion in works
The Minera Yanacocha gold mine in northern Peru will be expanded to increase output in 1995. Newmont Mining (NYSE), which owns 38% of the mine, says production will rise to 350,000-400,000 oz. from th…
Adex options Guyanese project
Under an option agreement, Adex Mining (TSE) can acquire up to a 60% interest in the Potts Falls gold concession in Guyana. Adex can earn the interest from Giddings Industrial Development Co., a priva…
NEWS ROUNDUP — Ramrod picks up Carlin ground
In purchasing Westmont Gold, Consolidated Ramrod Gold (TSE) has acquired interests in several properties in the Carlin Trend of northeastern Nevada. The properties cover more than 15,000 acres and Ram…
China imposing a sales levy on miners
China is expected to slap a sales levy on domestic and foreign-funded mining firms to curb the growing waste of precious state-owned mineral resources. Song Ruixiang, China’s vice-minister of mining, …
OBITUARIES — Ken Polk
A geologist for more than 30 years, George Kenneth Polk died recently in Oliver, B.C., following a heart attack. He was 63. A native of North Bay, Ont., and raised in Rouyn-Noranda, Que., he graduated…
Caledonia offshoot nets record profits
Filon Sur S.A., the 25%-owned Spanish gold and silver mining subsidiary of Caledonia Resources (TSE), enjoyed record profits of $1.6 million in 1993. Filon operates an open-pit, heap-leach gold and si…
NEWS ROUNDUP — Audrey ups reserves at 1100 lens
Minable reserves have increased at the 1100 lens project, part of the Mobrun mine northeast of Rouyn-Noranda, Que. Audrey Resources (ME) says reserves increased by 860,000 tonnes following a 6,600-met…
Rabbit Lake gets federal OK
Uranium miner Cameco (TSE) has been given the green light to bring three new deposits into production at its Rabbit Lake operation, 420 km north of La Ronge, Sask. The federal natural resources minist…
Gibraltar adds to copper interests
An expanding Gibraltar Mines (TSE) intends to acquire the Lomas Bayas copper property in Chile. The decision — part of a corporate thrust to become a multi-mine copper producer — follows a joint-ven…
All-North options southern project
Junior All-North Resources (VSE) can earn a 45% interest in El Oro, a gold property 100 km northwest of Mexico City. An agreement in principle, reached with a Mexican mining company, calls for All-Nor…