NEWS ROUNDUP — Cominco sells Aberfoyle interest
Proceeds of about $135 million will be realized by Cominco (TSE) from the recent sale of its 46.3% interest in Aberfoyle to Australian and international institutions. Aberfoyle owns the Hellyer zinc-l…
News
Tiomin proposes amalgamation with affiliate of Falconbridge
In a bid to raise financing for its heavy mineral sand deposit in Quebec, Tiomin Resources has proposed an amalgamation with publicly traded New Pascalis Mines (ME). New Pascalis, 43% owned by Falconb…
Additional Kookaburra funds for Longshot Ridge project
Additional funding was recently secured by Kookaburra Gold (VSE) for feasibility work on the Longshot Ridge copper-oxide project in Nevada. Kookaburra’s principal shareholder, Australia-based Xenolith…
Goldstack deals with Shoshoni
An agreement with Consolidated Shoshoni Gold (VSE) to acquire a 50% interest in Shoshoni’s Transmitter Hill gold property in Utah has been entered into by Goldstack Resources (VSE). The property is ad…
Breakwater adds Mochito reserves with new zone
A new orebody known as the Nacional zone was defined during a recent exploration and development program carried out by Breakwater Resources (TSE) at its El Mochito mine in Honduras. The new zone, whi…
Canyon quarterly earnings jump
A 43% increase in net earnings was reported by Canyon Resources (NASDAQ) for its latest quarter ended June 30, compared with results in the year-earlier period. The Colorado-based company announced ea…
Pioneer considers reopening Puffy Lake
With an ore reserve study by Kilborn Engineering now in hand, Pioneer Metals (TSE) has retained Tonto Mining to carry out a mining study for the company’s Puffy Lake gold deposit northeast of Flin Flo…
Eden Roc boosting daily throughput
Heap leaching at the Ivory Coast, West Africa, property of Eden Roc Mineral (TSE) has produced 5,785 oz. gold bullion to date, the company reports. Bullion contains 95-97% gold. The operation started …
LETTERS TO THE EDITOR — Blatant rumors about diamond hunt
During the past several months, I have enjoyed reading the news and activities on the exciting diamond front in the Northwest Territories. I do question, however, The Northern Miner’s role in fuelling…
OBITUARTY — A.D. Hellens
Alexander Daniel (Danny) Hellens, a consulting mining engineer who cut his teeth in the business in Ontario’s Cobalt silver camp, died recently in Toronto. He was 81. Born in Elk Lake, Ont., in 1911, …
STOCK MARKETS — Eastern markets stirred by diamond news,
All was quiet on the eastern stock markets during the week ended Aug. 25 with investors taking time out to bask in the first spell of sunny, hot weather to descend on central Canada all summer. The To…
Spot prices at a glance (August 31, 1992)
Week’s Price (US) Change Gold* $340.35 + $1.75 Silver* $ 3.65 – $0.15 Platinum* $349.50 + $1.75 Nickel** $ 3.30 + $0.04 Lead** $ 0.30 + $0.01 Copper $ 1.14 – $0.02 Zinc $ 0.63 + $0.01 Courtesy of Scot…