NEWS ROUNDUP — Newmont mine in production
Initial production figures for the Minera Yanacocha mine in northwestern Peru have been announced. The mine is 38%-owned and managed by Newmont Mining (NYSE) and will produce about 220,000 oz. gold pe…
News
PEOPLE — WHEATON RIVER (November 22, 1993)
Ian McDonald appointed chairman, chief executive officer and director; V. Jufronich appointed president, chief operating officer and director; Peter Tredger appointed vice-president, finance and direc…
Nebex drilling Northbelt gold bet
One drill has started turning on the Northbelt gold property, immediately north of the Giant mine of Royal Oak Mines (TSE) in Yellowknife, N.W.T. Calgary-based Nebex Resources (ASE) is financing 15,00…
LAST BUT NOT LEAST…Glen Auden completes IP in Quebec
Glen Auden Resource (CDN) has completed an induced polarization (IP) survey on its claim group in Casa Berardi Twp., Que. The survey outlined an IP anomaly with a strike length of 400 metres and furth…
Production shutdowns cost Inco
At a meeting with financial analysts in Toronto, nickel miner Inco (TSE) revealed that recently announced production shutdowns are expected to cost the company US$80 million. The shutdowns at the comp…
Evidence presented in Denison hearing
The presentation of evidence in the arbitration hearing between Denison Mines (TSE) and Ontario Hydro ended in early November. Each side will summarize the evidence and complete presentation of argume…
Eldorado acquires Argentinian ground
Through staking, options to purchase and joint ventures, Eldorado (TSE) now has mineral rights to 1,000 square miles in northwestern Argentina, along the Chilean border. The claims extend for 75 miles…
STOCK MARKETS — Gold stocks take breather as bullion price
Most of the gold stocks on the TSE were listless or falling slightly, probably because bullion itself shed a couple of dollars to US$373.70 per oz. over our report week. But in the equities there were…
NEWS IN BRIEF (November 22, 1993)
CanAlaska Resources (CKE:VSE) has changed its name to International CanAlaska Resources (ICA:VSE) with a consolidation of capital on a 1-new-for-4-old-share basis. RM Trust Co. is the transfer agent.
LAST BUT NOT LEAST…Suit muddies water in Whitewood Creek
A unit of Goldstake Explorations (TSE) is suing Homestake Mining (NYSE) and its wholly owned subsidiary, Whitewood Development. Goldstake launched the action in the U.S. District Court for Colorado. I…
Rio Algom releases assays from Lockwood joint venture
Drilling on the Lockwood property near Everett, Wash., has returned semi-massive-to-massive sulphide intersections in four of five holes. The property is owned 65% by Island-Arc Resources (VSE) and 35…
NEWS ROUNDUP — Spruce Ridge to drill Madoc property
A second phase of drilling will be carried out in early December on the Cooper Gold property, near Madoc, Ont. Drilling to date has outlined a gold zone containing 41,193 tons grading 0.24 oz. gold pe…