Alberta Stock Exchange Yukon raises funds
Edmonton-based Yukon Minerals has agreed to a private placement of one million treasury shares at 15 cents per share with two of the company’s directors. The proceeds totalling $150,000 will be used f…
Articles by Northern Miner Staff
PCS sells warrants to pay for Saskterra
A sale of special warrants worth nearly $50 million has been made by Potash Corp. of Saskatchewan (TSE) to fund the company’s recent purchase of Saskterra Fertilizers. Saskatoon-based Potash sold 3,66…
U.S. REPORT Targets exceeded at Champagne mine
Since the startup of the Champagne mine last September, operator Bema Gold (TSE) has been reporting better than anticipated gold and silver production at below projected costs. Bema owns 85% of the op…
U.S. REPORT Centurion sells Zaca property
With gold prices in a slump, Centurion Gold (TSE) has decided to sell its interest in the Zaca gold property in Alpine Cty., Calif. The company will receive US$2.4 million for its interest from partne…
Joutel raises cash through rights offer
With the recent offering of more than 35 million transferable subscription rights, shareholders of Joutel Resources (TSE) will be able to exchange their shares for rights in the company. The offer exp…
Sydney conference
The 24th annual conference of the International Iron and Steel Institute (IISI) will take place Oct. 8-10 in Sydney, Australia. Themes of the conference’s three panel discussions will be the world eco…
Rhodium reaches US$7,000 per oz.
The price of rhodium continued its meteoric rise and recently realized US$7,000 per oz. in New York. South Africa, the Soviet Union and Canada are the three suppliers of rhodium to the world market. A…
Court rejects Teck’s bid for copper mine
The government of Mexico will leave the Cananea SA copper mine up for sale, following a judge’s rejection of a recent $468-million bid by a consortium of mining companies. The bid by Cupriofera Canane…
New code sets B.C. mining standards
The British Columbia Ministry of Energy, Mines and Petroleum Resources has released an 11-part code covering health, safety, and reclamation in the mining industry. The Health, Safety, and Reclamation…
U.S. REPORT Piedmont makes new acquisition
The acquisition of MMC Holding Inc. by Piedmont Mining (NASDAQ) has been finalized at a total purchase price of US$3.5 million. Of this amount, US$1 million was paid in cash and the balance is payable…
Nexus changes name to Pacific Gold
Vancouver-based Nexus Resource (TSE) has changed its name to Pacific Gold Corp., and shareholders have approved a share consolidation on a 6-for-1 basis (6 Nexus for 1 Pacific). The consolidation brin…
Audrey hits fifth lens at depth Significant tonnage potential
Discovering new massive sulphide lenses is becoming part of the exploration routine at Audrey Resources’ (TSE) Mobrun polymetallic mine property near Rouyn- Noranda, Que. Since 1988, Audrey has uncove…