Asarco swings deal with Mexican firm
U.S. base metal producer Asarco (NYSE) is joining forces with Grupo Industrial Minera Mexico. An agreement will enable Grupo to merge with Mexico Desarrollo Industrial Minero S. A. de C. V. (MEDIMSA),…
Articles by Northern Miner Staff
Diamond flow-through fund withdrawn
Having failed to attract sufficient support, Caratax Diamond Exploration Limited Partnership 1993 has been withdrawn. “Investors perceived the fund as being too risky,” said Jean-Pierre Colin, preside…
Cons. Ramrod buys Nevada bet
Consolidated Ramrod Gold (TSE) will acquire a 78% interest in the Railroad property in Nevada’s Carlin Trend. It can acquire the interest from Westmont Gold by paying US$4 million over 42 months. The …
ODDS’N’SODS — Northern `Diamond Queen’ (1)
The search for gem stones in the Northwest Territories is not the first diamond story to come out of Canada’s North. Under the front-page headline “Famous Story Dies With Diamond Queen,” an obituary i…
Contamination suspected in Strike core
Goldhunter Explorations (ASE) is reconsidering its participation in a joint venture in the Shining Tree camp after an intersection, which had been rumored to be rich, was attributed to “contamination….
Columbia Gold Mines reviewing Heino operation
Lower-than-expected head grades and tonnage from the Heino Money zone at the Tillicum property near Nakusp, B.C., have prompted Goldnev Resources (VSE) and Bethlehem Resources (TSE) to drop their opti…
Hedman Res. completes placement
Alberta-listed Hedman Resources has completed a $500,000 private placement with European investors. Hedman has been operating an open-pit mine and mill complex near Matheson, Ont., for the past two de…
NEWS ROUNDUP — Minera Rayrock issues warrants
Junior Minera Rayrock (TSE) is issuing a private placement of 8 million special warrants. Each special warrant, priced at $2.50, will entitle the holder to recieve one subordinate voting share of the …
Regal options bet
Regal Goldfields (CDN) can earn a half interest in Copperquest’s (CDN) Kidd base metal property near Timmins, Ont. In return, Regal must spend $65,000 on exploration and give Copperquest $10,000 cash …
NEWS ROUNDUP — Drill results in from Hislop ground
Final results from a 31-hole program on the Hislop property have been released. Values from the final three holes range from 2.42 grams gold per tonne over 1.5 metres to 6.27 grams over 1.5 metres. Th…
Moscow bank appoints Newbury
The Russian Project Finance Bank, which serves as a link between Russian companies seeking investment and Western companies wishing to provide the same, has appointed Michael Newbury as executive dire…
Metall reducing MIM interest
Copper producer Metall Mining (TSE) is significantly reducing its stake in MIM Holdings of Australia. The Toronto-based company is selling 100 million shares of MIM at A$2.35 per share, which will res…