Gold for $88 an oz. at David Bell mine
Low production costs of $88 per oz. at the David Bell mine and $198 at the Williams mine, both in the Hemlo camp of northern Ontario, helped Teck (TSE) maintain first-quarter earnings of more than $20…
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Kenora Gold deal
Toronto-based Kenora Gold Occurrences (ASE) has signed a memorandum of agreement to acquire a 49% interest in the 2-claim MWF gold prospect in Matheson Twp., Ont. The deal was made recently with prosp…
Feasibility study complete next month on Eagle River project
The feasibility study in progress at the Hemlo Gold (TSE), Central Crude (TSE) joint venture at Mishibishu Lake, Ont., should be completed next month, says Hemlo Gold President John Harvey. “If the fe…
U.S. Report Pegasus income down as gold output rises
Despite higher gold production from six mines in the western U.S., Pegasus Gold’s (TSE) first-quarter earnings and revenues were down from last year’s levels. Pegasus Gold reported net income of $621,…
Gulf rejects Audrey bid for Asamera Min.
The gap between the valuation placed by Audrey Resources (TSE) and Asamera Minerals’ (TSE) parent Gulf Canada Resources on Asamera’s Canadian and U.S. mineral assets is apparently too wide. Audrey Pre…
P.T. Inco sale going as planned, says Phillips
The sale of 20% of P.T. International Nickel Indonesia is proceeding on schedule, Inco (TSE) Chairman Donald Phillips told a group of mining analysts in New York. As a result of the sale, Inco should …
Commodity index shows March gain
The all-commodity price index of Scotiabank rose by 2% in March, its first monthly gain since October. A strong recovery in base metals — up 7.2% from February — offset small declines in forestry pr…
Windy Mountain outlines `huge’ porphyry copper deposit
A preliminary reserve estimate of more than 30 million tons grading 0.48% copper marks the end of a successful 35-hole grassroots drilling program on Windy Mountain Explorations’ (COATS) MacLeod Lake …
Suit names Aurizon
Named as one of three defendants in a proceeding commenced in the Supreme Court of British Columbia is Aurizon Mines (TSE). The company says the action, launched by a private company, is related to an…
Atlantic Goldfields no longer mining
As a result of a merger between Atlantic Goldfields (COATS) and Norcast, Atlantic’s main interests have switched from mining to producing grinding media from Norcast’s three iron and steel foundries. …
American Barrick moves up but Placer still top gold producer
Moving up the list of top Canadian gold producers is American Barrick Resources (TSE), which Richard Cohen of securities firm BBN James Capel says could occupy the second position in the country by th…
Oversupply continues to dampen revenues for Canada Tungsten
High volumes of exports from Chinese tungsten producers are continuing to depress tungsten prices, keeping Canada Tungsten’s (TSE) earnings on a downward spiral. The company suffered a net loss of $2 …