EDITORIAL PAGE Taxed to death
Governments just can’t handle money. The more they get, the more they spend. Politicians just do not have the backbone to say no to any request that carries even the slightest whiff of votes. The resu…
News
Breakwater closes Caribou mine cites zinc outlook, mill expenses
Bleak forecasts on the zinc price combined with production shortfalls have prompted Breakwater Resources (TSE) to suspend operations at its Caribou lead-zinc-silver mine near Bathurst, N.B. Last week,…
USMX pours gold from Casino mine
Joint venture partners USMX (NASDAQ) and Pegasus Gold (TSE) marked the official start of production at the Casino mine near Ely, Nev., by pouring a dore bar containing about 850 oz. gold. The partners…
Inspiration’s revenue up, earnings down
Strong copper prices and higher production from the Namew Lake operation in Manitoba failed to improve the financial fortunes of New York-based Inspiration Resources (NYSE) and wholly owned subsidiary…
MinVen Gold refinances
The president of MinVen Gold (TSE) recently announced details of plans to refinance amounts outstanding under its US$14.5 million bank line of credit. The company’s principal lender, Citibank, agreed …
Copper-gold reserves jump at Expo property deposit
An independent engineering report from Steffen, Robinson, Kirsten has increased the preliminary reserves of the Expo property’s Hushamu deposit to 456 million tons grading 0.26% copper and 0.01 oz. go…
Montrose drill cuts weak gold zones
A 3-hole drill program on Montrose Gold Resources’ (COATS) property near Matachewan, Ont., has intersected some weak gold mineralization. The first hole returned the highest gold values including an a…
OMIP changes prompt flood of applications
Ontario mining companies have rushed in to take advantage of exploration grants provided under the recently amended Ontario Mineral Incentive Program (OMIP). Since the amendments took effect in Septem…
Drilling continues at Golden Bear
A recent drill program on the Golden Bear property in northwestern British Columbia is focused on testing for extensions of known mine reserves. The gold mine project is a joint venture between Chevro…
Executive shuffle at Noranda Minerals
Keith Hendrick will step down from his position as president and chief executive officer of Noranda Minerals as part of a recently announced executive shuffle. Alex Balogh, 58, has been chosen to succ…
Platinova, Corona analyzing results of Greenland work
Joint venture partners Platinova Resources (TSE) and Corona (TSE) are analyzing the final results from a recently completed $2.2-million exploration program at their Skaergaard gold-platinum project i…
Westmin boosts Premier Gold stake
A unit of Westmin Resources (TSE) recently acquired a 9.9% interest in the Premier Gold project held by a wholly owned subsidiary of Prime Resources Group (TSE). This acquisition boosts Westmin’s stak…