Lumina assembling land package
Mine financier Robert Hunter is getting into the diamond exploration business. As president of Lumina Investment (VSE), Hunter is overseeing the assemblage of a “significant” property portfolio in bot…
News
Ramrod plans second Campo drill
With six holes now complete on the Campo Seco gold property in Calaveras Cty., Calif., Consolidated Ramrod Gold (TSE) plans to bring a second drill on to the property. Last October, the company report…
Sagging gem sales hurt Canadian play
Fresh evidence of a deteriorating diamond market threw some cold water on Canada’s diamond exploration play in the first half of January. South Africa’s De Beers, which controls the diamond cartel, sa…
Mining companies budget for exploration spending
The lower prices received for mineral commodities have affected corporate balance sheets but the search by producers for new reserves continues, as the chart below indicates. The 1992 figures were sup…
Glen Auden enters diamond hunt
Subject to regulatory approval, Glen Auden Resources (CDN) has acquired a 100% interest in two claim groups north of Kirkland lake, Ont. The claim blocks cover clusters of circular magnetic anomalies,…
Dutch unload gold reserves
The Dutch central bank was reported to have sold 400 tonnes of gold, equal to about one-quarter of its total gold reserves. Analysts said The Netherlands may be using the money from the sale of the go…
Lencourt under new management
Toronto-based geological consulting firm Watts, Griffis and McOuat (WGM) has sold more than two million shares of Lencourt (TSE) to Interchem (N.A.) Industries in trust. Interchem, a Vancouver-listed …
Falconbridge considers building own power plant
The Kidd Creek division of Falconbridge is one step away from building its own hydro-generating station and Ontario Hydro one step away from losing its largest customer. The division is trying to arra…
Wharf arranges US$20-million loan
Wharf Resources Partnership, which owns the Wharf open-pit gold mine near Lead, S.D., has arranged a US$20-million term loan with a U.S. bank. The Wharf Resources Partnership is 100% owned by Wharf Re…
Imperial sells Crow Butte interest
A net gain of more than $2 million is expected by Imperial Metals (TSE) from the recent sale of a 22% interest in the Crow Butte uranium mine to Uranerz U.S.A. The transaction will increase Uranerz’s …
Nanisivik funds Asquith on new belt
Nanisivik Mines, a unit of Conwest Exploration (TSE), has agreed to fund initial exploration work on Asquith Resources’ (CDN) claims south of Shining Tree, Ont., through a private placement of common …
Program named after Aitken
A new sustainable development internship program will be named in memory of the late W.R.O. (Roy) Aitken, federal Environment Minister Jean Charest announced recently. Aitken, who died last November a…