US Gold gains Mexican base metal property
Denver — After concentrating for years on the Tonkin Springs gold project in Nevada, U.S. Gold (USGL-O) is shifting its focus to a silver-lead-zinc property in Mexico.The company leased the 47-ha Zim…
Articles by Northern Miner Staff
Crown defaults on debentures (September 03, 2001)
Denver — Financially beleaguered Crown Resources (CRRS-O) says it will not be making its final, US$15.4-million payment, thereby defaulting on its 5.75% convertible subordinated debentures. The payme…
Namco hangs tough despite half-year loss
A disaster early in the year left Namibian Minerals (NMR-T) with US$25.1 million in losses on revenue of US$6.2 million for the half of 2001.Namibian’s loss, which translates into 40 per share, was b…
Falco plans suspension
The ongoing weakness in nickel markets, coupled with high oil prices, is forcing Falconbridge (FL-T) to suspend production at its 85%-owned nickel laterite mine in the Dominican Republic.The gates wil…
Lower grades hamper Claude’s performance
A dramatic drop in production at the Seabee gold mine in Saskatchewan pushed Claude Resources (CRJ-T) $1.2 million into the hole in the first half of 2001.The 3-per-share loss comes on revenue of $15…
Lakota picks up claims west of Bulyanhulu mine
CDNX-listed Lakota Resources (YLA-V) has concluded two agreements that give it conditional control over 12 mining claims just west of the Bulyanhulu gold mine in northern Tanzania.The claims are insid…
Doing, and not doing
Having funded and reviewed an “independent investigative impact assessment report,” the International Fund for Animal Welfare (IFAW) is urging the government of Kenya to block the Kwale titanium proje…
Pt prices hurt dental sector
Last year it was the dental sector in which high palladium prices had their most significant negative impact. Demand was down by 26% to 820,000 oz., the lowest figure in 17 years.The use of palladium …
Survival in September
Survival 2001, a conference on how to cut costs and increase productivity at mining operations, is slated for Sept. 10-11 at the Airport Hilton Hotel in Toronto.Speakers will present case studies, amo…
Decline in oil and gas pulls down CDNX
Vancouver — Canada’s junior exchange lost ground over the week ended Aug. 28. Oil-and-gas-related issues led the way with a 3.7% plunge in the sector. The Canadian Venture Exchange composite index fe…
General Minerals eyes prospects
Denver — General Minerals (gnm-t) is scouring Bolivia for tantalum prospects, having already amassed 244 km northeast of Santa Cruz.To date, most of the work has concentrated on tantalite-bearing peg…
Cumberland eyes placement
Subject to regulatory approval, Cumberland Resources (CBD-T) will offer 1 million units at $1.10 apiece to finance its exploration efforts in Nunavut.Cumberland has three gold projects in the area: Me…