Hecla purchasing Apex mine in Utah
The troubled Apex germanium- gallium mine and processing plant in Utah is being acquired by Hecla Mining, which will pay $5.5 million (US) and bring the mine back into production this year. Hecla will…
News
Bitech expands reserves, plans new work programs
Additional significant results have been obtained from recent drill holes on Bitech Energy Resources’ (ASE) Nugget Pond property near Betts Cove, Nfld. The new results have led the company to increase…
Spot prices at a glance (March 27, 1989)
Price Week’s ($US) Change($) Gold* 393.40 1.05 Silver* 6.06 0.07 Platinum* 544.65 0.90 Nickel** 7.35 0.41 Lead** 0.27 Copper 1.49 0.01 Zinc 0….
Black Hawk drilling Perth graphite bet
A diamond drill program using three machines is continuing on an Ontario graphite property under option to Black Hawk Mining (TSE) from Lodi Metals (VSE). The property is 14 miles southwest of Perth, …
Aur no longer chasing Louvem
A takeover offer by Aur Resources (TSE) of Louvem Mines (TSE) has been terminated. Aur, which would have spent about $8.3 million to acquire about 65% of the common shares of Louvem, a small gold prod…
Sikaman receives portion of securities offering
The underwritten portion of a February securities offering designed to raise $15.5 million has been completed, Sikaman Gold Resources (TSE) reports. Sikaman says it has received $6,726,000 from invest…
Renabie turnaround
Corona Corp. (TSE) and American Barrick Resources (TSE) have begun a decline into the bottom- most levels of jointly owned Renabie mine to probe for gold mineralization at depth. The decline will be d…
Tax credit to boost exploration research
Research in metallogeny, geochemistry, geophysics and remote sensing has just become more cost effective. The Mineral Exploration Research Institute (MERI) of Montreal has formally been recognized by …
COATS Trading Features (March 27, 1989)
Hanson Mineral Exploration has completed an amalgamation with Perch River Mines. The new company, called McNickel Inc., hopes to raise $3.5 million to explore a promising copper-nickel property near L…
Letter to the Editor Lunar Base preparations under way (March 27, 1989)
As a member of the Space Studies Institute (but not an official spokesperson), I was interested to see the editorial regarding lunar mining (N.M., Mar 20/89). May I comment? It is true that as a post …
Durga set to process Nevada mine tailings
Within the next two months, Durga Resources (ASE) of Calgary will start to process 22,000 tons of tailings material at the Boss gold mine in southern Nevada. Having already lined up heap leaching faci…
Corona buys shares in Golden Nevada
Recently acquiring a 10.4% interest in Golden Nevada Resources (VSE) was Corona Corp. (TSE). Corona said it purchased slightly more than one million shares in the junior in a private deal. Among other…