NEWS ROUNDUP — Lac income falls with gold price
Lower gold prices reduced first-quarter earnings to $600,000 from $3.7 million last year, reports Lac Minerals (TSE). Although the gold-producer slashed cash production costs to US$200 per oz. from US…
Articles by Northern Miner Staff
Lytton stock plummets on preliminary results
Investors slashed more than $150 million from the market value of Lytton Minerals (TSE) after the company announced the recovery of 44 diamonds from a kimberlite pipe on one of its properties in the N…
NEWS ROUNDUP — USMX in Arizona gold project
Colorado-based USMX (NASDAQ) has exercised its option to participate in a joint venture with Excellon Resources (VSE) and Valdez Gold (ASE) on the Tombstone gold project in Arizona. Excellon and Valde…
Yukon exploration activity picking up
The Yukon’s mineral exploration season is expected to improve considerably this summer after only $10 million was spent in 1992. “It’s definitely picking up,” said Al Doherty, president of the Yukon C…
Battle Mountain to develop Reona
U.S.-based Battle Mountain Gold (TSE) plans to develop the Reona heap-leach deposit at its Battle Mountain complex in Nevada. The cost will be about $10 million. Reserves are about 13.5 million tons g…
Bursary fund honors Paul Young
Friends and early associates of the late mining engineer Paul Young have founded a student assistance bursary fund in his name. The Paul E. Young Memorial Fund is administered by The Walli Foundation …
GOLD FUNDS (May 10, 1993)
BGR Central Net Value $11.52 $5.63 Price $10.25 $5.75 Discount 11.02% 2.1% Value $64,523,000 $96,739,725…
Spot prices at a glance (May 10, 1993)
Week’s Price (US) Change Gold* $352.75 + $3.05 Silver* $ 4.25 + $0.20 Platinum* $374.15 – $0.60 Nickel** $ 2.67 – $0.01 Lead** $ 0.19 $0.00 Copper $ 0.82 – $0.03 Zinc $ 0.46 $0.00 Courtesy of Scotiaba…
Island Copper mine to close in 1996 — Garbage dump proposed
Tucked away in the tranquil fjord country of northern Vancouver Island, the Island Copper mine of BHP Minerals Canada is becoming the focus of some unfamiliar media attention. This large open pit has …
Caledonia, Falconbridge Gold report Zimbabwe gold find
The first phase of an exploration program near the town of Kwe Kwe, Zimbabwe, has turned up a gold discovery, Caledonia Mining (TSE) and its 48%-indirectly-owned subsidiary, Reunion Mining (Zimbabwe),…
Starmin, Adex sample anomaly
Encouraging preliminary results were received from rock-chip sampling one kilometre west of the Asia Pacific copper porphyry deposit in the Philippines, partners Starmin Mining (TSE) and Adex Mining (…
Correction (May 03, 1993)
Although a recent Burns Fry report rates the impact of a proposed royalty on Glamis Gold (TSE) as “severe” (T.N.M., April 26/93), the rating applies only if a royalty is placed on all U.S. reserves, i…