NEWS ROUNDUP — ITEC completes $5-m financing
ITEC Mineral, a 67%-owned subsidiary of St. Genevieve Resources (ME), is raising funds to upgrade its Norebec-Manitou mill near Val d’Or, Que. Proceeds from a $5-million financing, consisting of 1.7 m…
Articles by Northern Miner Staff
Kennecott deal sets precedent
In what is described as a “win-win” situation, the U.S. Forestry Service will allow a subsidiary of Kennecott to explore for and extract minerals from a parcel of land within the Tongass National Fore…
NEWS ROUNDUP — Aussies set sights on Cliff Resources
Shares of Australian-based Black Hill Minerals and Strategic Industry Investments will be exchanged for shares of Cliff Resources (TSE). Although the exchange ratios have not been determined, the dire…
Sharpe and Freewest cut sulphides in Wisconsin
The first hole drilled by partners Sharpe Energy and Resources (VSE) and Freewest Resources Canada (TSE) on their Horseshoe property in Wisconsin has yielded a significant base metal intersection. Hol…
Drilling under way at Big Gossan
Drilling of the western extension of the Big Gossan copper-gold deposit in Indonesia has returned high-grade values for Freeport-McMoRan Copper & Gold (NYSE). Situated 1 km from the company’s mill on …
Majors eye junior active in Brazilian gold camp
The promise of political and economic reforms in Brazil has put the spotlight on newly listed Santa Elina Gold (TSE), a junior company which has been exploring and developing gold mining properties in…
Mutual closes African property agreements
A previously announced agreement involving the Bilpraw gold concession in central Ghana has closed. The deal allows Mutual Resources (VSE) to earn a 55% interest in the concession by paying $75,000 an…
Santa Fe Gold adds to holdings
Reno-based Santa Fe Pacific Gold (NYSE) has leased two gold properties in Nevada’s Carlin Trend from Minefinders (VSE). The Gutsy and BM properties are about 2 miles northwest of the Rain gold mine. S…
PEOPLE — CYPRUS AUSTRALIA COAL
J. Cook appointed president.
Scintilore seeks to raise $640,000
Two arm’s-length private placements are intended to raise $640,000 for Scintilore Explorations (TSE). The placements consist of 1.6 million shares priced at 40 cents each, with warrants entitling the …
Adrian Resources to buy own shares
Convinced its share price is undervalued, Adrian Resources (TSE) plans to acquire up to 1 million shares of its capital stock through a normal course issuer bid. Adrian’s major asset is its interest i…
Gulf confirms Tajikistan venture
Following a recent change of government in the former Soviet republic of Tajikistan, Gulf International Minerals (VSE) has confirmed its joint-venture agreements on several properties. Gulf can earn a…