FMC Gold expanding its exploration efforts
With cash overflowing in its coffers, and reserves almost depleted at the Paradise Peak mine in Nevada, FMC Gold (NYSE) is expanding exploration to find additional deposits. The exploration budget for…
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Crown Butte permitting milestone
An important permitting milestone was recently marked by Crown Butte Resources (TSE), the environmentally progressive owner of the New World copper-gold-silver project in Montana. The company reports …
Improved recovery lifts Red Dog’s spirits
The Red Dog zinc-lead mine in northwest Alaska has proved challenging for Cominco (TSE), which owns and operates the facilities under a lease agreement with NANA Regional Corp. Between startup in late…
STOCK MARKETS — Lower prices for metals drag down mining
Lower nickel and copper prices and a fickle gold price led many of the mining stocks on eastern markets into decline amid the slow trading of Easter week. For our report period, the week ended April 1…
Production record at Sterling mine
The Sterling gold mine, owned 52% by Cathedral Gold (TSE), turned out 14,109 oz. gold in 1992, the most in its 12 year life. Cash costs increased to US$298 per oz. from US$264 per oz. in 1991, when 12…
METAL MARKETS — Global mining competition grows
Metal production and consumption estimates for 1992 and projected volumes for 1993 have begun to appear. Some observations: The restructuring of American and Commonwealth of Independent States defence…
USMX continues Tombstone drilling
Drilling by USMX (NASDAQ) has resumed on the Tombstone, Ariz., gold-silver properties of Excellon Resources (VSE) and Valdez Gold (ASE). The first phase involved 26 holes. USMX must decide by the end …
B.C. government ponders next Windy Craggy move
Mines Minister Anne Edwards said the British Columbia government will soon announce “where we go next”on the land-use controversy surrounding the Windy Craggy project in northwestern British Columbia….
NEWS ROUNDUP — New life for Belmoral
Alberta private company Geopetrol Resources has been granted an option by Aur Resources (TSE) to purchase the debt (at least $4.5 million) of Belmoral Mines (TSE) owing to Aur. Belmoral would sell its…
Sutton negotiates property deal
Although details are veiled in secrecy, Sutton Resources (VSE) reports that it has signed a memorandum of understanding on a gold property outside North America. The property is subject to a legal cla…
Scintilore funds
Scintilore Explorations (TSE) says it has reached agreement-in-principle with an investor to raise $1.05 million by way of a private placement. The placement would consist of 1,050,000 common shares a…
Dayton pursues merger proposals
Following the collapse of a funding deal with a Malaysian group for the Andacollo project earlier this year, Dayton Mining (TSE) has retained RBC Dominion Securities to assist in the evaluation of mer…