Cyprus sells two gold mines
The sale of some gold mining assets is providing Cyprus Minerals (NYSE) with additional funds for capital programs aimed at reducing costs and expanding production. An 80% interest in the Golden Cross…
Articles by Northern Miner Staff
LATIN AMERICA ROUNDUP — Juniors target Venezuela’s Km 88
The recent spate of legal disputes over rights to concessions has not prevented junior companies from seeking to tie up ground in Venezuela’s Kilometer 88 district. Activity there is growing steadily,…
Cyprus options Queenston bet near Kirkland
The Canadian exploration unit of a major U.S. company has stepped in to fill the shoes of Battle Mountain Canada on the Amalgamated Kirkland property near Kirkland Lake, Ont. Cyprus Canada, a unit of …
Glamis Gold places 1.25 million shares
Glamis Gold (TSE) has entered into an agreement with Loewen, Ondaatje, McCutcheon to place 1,250,000 common shares at a price of US$8.625 per share for gross proceeds of $10.8 million. This sale is in…
Altai options Peruvian property
Toronto-based Altai Resources (TSE) has entered a joint-venture agreement with Chimu Mining of Lima, Peru, covering property in the South American country. Alta has acquired an option to earn a 60% in…
Biron Bay makes rights offering
A rights offering is being made to shareholders of Biron Bay Resources (ASE) entitling them to buy one unit in the company at 80 cents for every 10 rights held. Each unit consists of one common share …
NEWS IN BRIEF (May 24, 1993)
Pine Bell Mines Ltd. (PNL:VSE) has changed its name to Bell Coast Capital Corp. with a consolidation of capital on a 1-new-for-4-old-share basis. The transfer agent is Montreal Trust.
LATIN AMERICA ROUNDUP — Venezuelan leader may face
The head of the Supreme Court of Venezuela has recommended President Carlos Andres Perez be indicted for allegedly misusing US$17.2 million. The allegations have sparked protests and civil unrest, wit…
NEWS ROUNDUP — Lac announces odd-lot program
Toronto-based Lac Minerals (TSE) has initiated an “odd-lot selling program” to buy shares of Lac and certain predecessor companies from shareholders who hold 99 shares or fewer. For shareholders with …
NEWS ROUNDUP — Cross Lake hits zinc near Timmins
A hole drilled while testing for electromagnetic anomalies on the Fox Stimson property, 70 km northeast of Timmins, Ont., has intersected three mineralized zones, reports Cross Lake Minerals (VSE). No…
NEWS ROUNDUP — Goldstream reserve boosted
A recalculation of minable reserves at the Goldstream mine near Revelstoke, B.C., has resulted in a 26% increase over estimates made last November. Bethlehem Resources (TSE) and Goldnev Resources (VSE…
NEWS ROUNDUP — Bre-X options Indonesian bet
Calgary-based Bre-X Minerals (ASE) has signed an agreement in principal to earn an 80% interest in an Indonesian gold project. The 57,571-hectare property contains three gold prospects, one of which r…