$43-per-oz. improvement for Dome
The manager of Placer Dome’s (TSE) Dome mine in Timmins says the company hopes to reduce its average production costs by as much as US$43 per oz. Robert Perry made the comment at the conclusion of a 6…
Articles by Northern Miner Staff
Financiers prefer multinational giants
Independent miners, pitted against multinational giants, will have difficulty raising money from financiers, said Bob Parsons, chairman of Toronto-based Price Waterhouse’s mining industry services gro…
Commodity index on the rebound
Helped in part by rising base metal prices, the all-commodity price index of Scotiabank, on the rebound since the first quarter of the year, is riding slightly above levels of 12 months ago. In Septem…
Platinova, Corona analyzing results of Greenland work
Joint venture partners Platinova Resources (TSE) and Corona (TSE) are analyzing the final results from a recently completed $2.2-million exploration program at their Skaergaard gold-platinum project i…
Executive shuffle at Noranda Minerals
Keith Hendrick will step down from his position as president and chief executive officer of Noranda Minerals as part of a recently announced executive shuffle. Alex Balogh, 58, has been chosen to succ…
Drilling continues at Golden Bear
A recent drill program on the Golden Bear property in northwestern British Columbia is focused on testing for extensions of known mine reserves. The gold mine project is a joint venture between Chevro…
OMIP changes prompt flood of applications
Ontario mining companies have rushed in to take advantage of exploration grants provided under the recently amended Ontario Mineral Incentive Program (OMIP). Since the amendments took effect in Septem…
Montrose drill cuts weak gold zones
A 3-hole drill program on Montrose Gold Resources’ (COATS) property near Matachewan, Ont., has intersected some weak gold mineralization. The first hole returned the highest gold values including an a…
Copper-gold reserves jump at Expo property deposit
An independent engineering report from Steffen, Robinson, Kirsten has increased the preliminary reserves of the Expo property’s Hushamu deposit to 456 million tons grading 0.26% copper and 0.01 oz. go…
MinVen Gold refinances
The president of MinVen Gold (TSE) recently announced details of plans to refinance amounts outstanding under its US$14.5 million bank line of credit. The company’s principal lender, Citibank, agreed …
Inspiration’s revenue up, earnings down
Strong copper prices and higher production from the Namew Lake operation in Manitoba failed to improve the financial fortunes of New York-based Inspiration Resources (NYSE) and wholly owned subsidiary…
USMX pours gold from Casino mine
Joint venture partners USMX (NASDAQ) and Pegasus Gold (TSE) marked the official start of production at the Casino mine near Ely, Nev., by pouring a dore bar containing about 850 oz. gold. The partners…