News

Robust prices for gold and silver triggered another round of trading activity on the TSX Venture Exchange over the report period March 31-April 6. The composite index was up about 20 points at 1,881 over the week.

Saskatoon-based Cameco (CCO-T) and the National Atomic Co. of Kazakstan plan to spend some US$38 million to bring the Inkai uranium deposit in that country into commercial production in 2007.

With assay results in hand from an additional 21 holes, Imperial Metals () is expected to release an updated reserve and resource statement for its wholly owned Mount Polley copper-gold project in central British Columbia.

Vancouver-based Kimber Resources () has revised its resource estimate for the Carmen deposit on the past-producing Monterde property in Mexico’s Chihuahua state.

Vancouver — NovaGold Resources () intends to acquire the shares of SpectrumGold (SGX-T) that it does not already hold.

Higher-than-expected costs at the Petrex mines in South Africa and an unrealized US$13.4-million derivative loss pushed Bema Gold () US$21.5 million into the red during the fourth quarter of 2003.

Underground definition drilling of zone 113 at the Casa Berardi gold project in Quebec continues to exceed the expectations of Aurizon Mines (ARZ-T).

The government of Sierra Leone has cancelled the diamond mining leases held by Rex Diamond Mining (RXD-T).

Drilling by Miramar Mining (MAE-T) is extending mineralization in the Madrid area of the Hope Bay gold project, near Bathurst Inlet in Nunavut.

Metallica Resources (MR-T) has acquired Glamis Gold‘s (GLG-T) net smelter return royalty on the Cerro San Pedro heap-leach gold-silver project in central Mexico.

Early-stage reverse-circulation drilling by Patagonia Gold (PGD-L) at the Cerro Crespo property in Chubut province, Argentina, has intersected gold along a 200-metre-long vein.

Proceeds from a $6.5-million private placement will enable Minera Andes () to advance the Huevos Verdes gold-silver project in southern Argentina.