Giant Yellowknife faces sale to Frame Mining
Major gold producer Giant Yellowknife Mines (TSE) and its associated Pamour group companies may have a new owner by the end of the year. Parent company Giant Resources of Australia has entered into a …
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Cominco Resources still in the red
An aggressive exploration and development program in the international arena is continuing to create red ink for Cominco Resources International (TSE). The company’s third-quarter loss was $2.4 millio…
Westmin earnings dip
Earnings for Vancouver-based Westmin Resources (TSE) dropped to $1.1 million for the third quarter from $4.1 million the previous year. After preferred dividends are accounted for, the company lost 8 …
Canamax tallies third quarter loss
A net loss of $2 million or 11 cents per share was reported by Canamax Resources (TSE) on revenues of $12 million for its third quarter ended Sept 30. These results, which include proceeds from the …
Rio Algom ends talks with Uranium Resources
Negotiations between Rio Algom (TSE) and Uranium Resources (TSE) for a proposed takeover of Uranium Resources by Rio Algom were terminated. The two companies had previously signed a non-binding letter…
Euro, Goldhurst deal
An agreement in principle has been signed between Goldhurst Resources (VSE) and Euro- Nevada Mining (TSE) which gives Euro-Nevada the right to buy 50% of Goldhurst’s royalty in the Mouska gold project…
Inco opens Crixas
Inco Gold, a wholly owned affiliate of Inco Ltd. (TSE), poured the first gold from its Crixas gold mine in Brazil. Designed to process 360,000 tonnes of ore per year to yield 120,000 oz of gold, the C…
Initial drilling returns good values at Rainbow Hill
Although still in its early stage, initial reverse circulation drilling on the Rainbow Hill lode gold project near Cantwell, Alaska, has returned encouraging results for 100% owner, Canalaska Resource…
Drilling to begin at Reymont project
Drilling is scheduled to get under way this month at Reymont Gold Mines’ (ASE) Great Western Star gold-copper property near Nelson, B.C. Spending $3 million by 1994 and making staged payments of $500,…
Mine feed only for Magnacon mill
The Magnacon mine near Wawa, Ont., produced about 3,300 oz gold in October, Windarra Minerals (TSE) reports. Mill throughput during the month averaged 473 tons per day at an average head grade of 0.25…
Gold Standard set to explore Uruguay with Big Pony Gold
Gold Standard (NASDAQ), the Utah-based company which is preparing to do battle with American Barrick Resources (TSE) in court next year for control of the Mercur gold mine, recently raised $2.55 milli…
Low grading nickel values cut by Milestone in Manitoba
Low grade nickel-copper values have been intersected by eight shallow drill holes completed recently on Milestone Resource’s (COATS) Ore Fault claims in southeastern Manitoba. The 16-claim property, a…