Nu-Lite reworks private placement
Slow markets have caused Nu-Lite Industries (NLE-V) to re-price a private placement.Unable to complete a 2.2-Million unit private placement at $3 each, the junior has arranged with investors to repric…
Articles by Northern Miner Staff
BASE METALS — Exploration heats up in Northwest Territories
Results from a third phase of drilling on the Bowl Zone prospect near Mazenod Lake, about 160 km northwest of Yellowknife, N.W.T., indicate that mineralization continues to the east.Owner Fortune Mine…
STOCK MARKETS — Broad market rises as golds and base metals tumble — Platinum falls back to earth as Noril’sk threat is abated
The bulls were riding high, as the Toronto Stock Exchange 300 composite index rose 59.30 points to close the report period ended June 17 at 6,532.34.On June 13 the index hit 6,550.61 points, yet anoth…
PNG mines hurt by prolonged drought
Drought in the highlands of Papua New Guinea (PNG) is hampering mine operations there.At the Porgera gold mine, 50% owned by Placer Dome (PDG-N), mill operations were suspended June 1 owing to low wat…
Amax buys Russian gold mine
Amax Gold (AU-N) has bought a half interest in the Kubaka gold mine in far eastern Russia from Cyprus Amax Minerals (CYM-N).To complete the transaction, Amax issued 11.8 million shares of common stock…
BASE METALS — Cambior anticipates green light for Carlota project — Company spends five years and US$52 million preparing for production
After considerable delays, Montreal-based Cambior (CBJ-T) expects to receive environmental permits for its Carlota copper project in east-Central Arizona.The company has spent five years and US$52 mil…
Activity heats up in Burkina Faso — Juniors busy exploring, Poura mine gets new lease on life
Exploration results from several work programs are confirming the gold potential of Burkina Faso and, at the same time, adding impetus to efforts to revive the dormant Poura gold mine in the West Afri…
Timmins project keeps Holmer rooted at home
BBY THOMAS BROCKELBANKWhile it is making a name for itself with its Cuban projects, Holmer Gold Mines (HGM-T) is keeping one foot firmly planted in one of Canada’s oldest mining camps.Holmer has a 100…
Mar-West and Curion Ventures test Sinter gold zone in Honduras
The most recent drill results from the Sinter gold zone at the San Martin concession in central Honduras indicate that the mineralized blanket covering the dome-shaped hill thins to the northwest, wit…
Gabriel seals Romanian JV deal
Denver-based junior Gabriel Resources (GBU-V) has signed a joint-Venture agreement with the Romanian state-owned mining company Regia Autonoma a Cuprului Deva.The partners are establishing a Romanian …
Curator revises Boleo estimate
A new preliminary resource estimate for International Curator Resources’ (IC-T) Boleo property in Baja California Sur, Mexico, shows a slight decrease in copper values but almost a 12% jump in cobalt….
Taseko drills Prosperity
Junior Taseko Mines (TKO-V) is pleased with results received from a program of large core diamond drilling on the Prosperity project near Williams Lake in central British Columbia.The results compare …