Pele peers into Cristal
Junior Pele Mountain Resources (GEM-V) has begun drill-testing the Cristal diamond showing at the Festival property, near Wawa, Ont.Earlier this year, Pele recovered a white, 0.72-carat gem-quality di…
Articles by Northern Miner Staff
Noranda confirms Magnola plant closure
Noranda (NRD-T) is closing its 80%-owned Magnola magnesium plant is in Danville, Que. The troubled plant will be idled for at least a year, possibly longer depending on magnesium prices.Layoffs will b…
Wheaton hungry for Alumbrera stake (March 31, 2003)
Having just acquired Rio Tinto’s (RTP-N) quarter-stake in the Bajo de la Alumbrera gold-copper mine in Argentina, Wheaton River Minerals (WRM-T) is about to acquire another quarter-interest in the ope…
Stornoway advances Coronation Gulf projects (March 31, 2003)
Vancouver — Stornoway Ventures (SWV-V) plans to follow up on indicator mineral trains found on its Sceptre and Tiara diamond properties in the Coronation diamond district of Nunavut.Last spring, a 6,…
First Quantum raises funds (March 31, 2003)
First Quantum Minerals (FM-T) has inked a financing deal with a private equity fund to raise up to US$35 million.Subject to the usual conditions, AIG African Infrastructure Fund will purchase 4 millio…
The Northern Miner Indices (March 31, 2003)
North American Mining: 64.69 (-3.07)Small Producers: 54.42 (-4.31)(Sept. 30/98 = 100)…
Meridian hammered by local Esquel vote
Locals living near Meridian Gold’s (MNG-T) Esquel gold project in southern Argentina have voted overwhelmingly against its development.The Esquel project is 10 km northeast of the city of the same nam…
Sparton, Beaufield drill for Hemlo gold
Juniors Sparton Resources (YSP-V) and Beaufield Consolidated Resources (BFD-V) have begun drill-testing several gold targets in the Hemlo region of northern Ontario.At the recently acquired Qued proje…
Trading Summary (March 28, 2003)
Toronto’s gold stocks put in an impressive rally, gaining 10.07 points or nearly 7% to end at 157.56 on Friday. The…
Minera Andes cuts new gold-silver zone at San Jose
Vancouver — Spokane-based Minera Andes (MAI-V) cut a new zone of high-grade gold and silver at its San Jose projec…
Inmet ups reserve at Troilus (March 28, 2003)
Additional drilling and re-assessment of the operating conditions at the Troilus gold mine in north-central Quebec…
PCS issues profit warning (March 28, 2003)
Potash Corp. of Saskatchewan (POT-T) warns that it will miss its previous first-quarter earnings estimate of US25…