Writedowns take toll on Northern Orion
Northern Orion Explorations (NNO-T), further in the red following a series of writedowns attributed to its Mantua gold operation in Cuba, has arranged a refinancing with parent Miramar Mining (MAE-T)….
News
CORRECTION (December 20, 1999)
In our Dec. 13 issue, we reported that Mountain Lake Resources (MOA-V) must pay $470,700 over a 3-year period to the owners of the Klipgat diamond property in South Africa.Mountain Lake has optioned t…
Gold slides further still
Gold continued its slump as the Dow Jones industrial average climbed 53.52 points, or 0.5%, to 11,160.17 during the report period ended Dec. 14.The spot price slumped to US$280 per oz. on the Comex di…
Appeals court favours Freeport-McMoRan
A U.S. Court of Appeal has upheld an earlier ruling against an opponent of the giant Grasberg copper-gold mine in Irian Jaya, Indonesia, stating that the plaintiff, Thomas Beanal, failed to show that …
LME WHSE LEVELS (December 20, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Dec. 14/99 (change from Dec. 7 in brackets):Aluminium767550(-5400)…
Grasberg mine transforms Irian Jaya
Vancouver — There is no denying the impact the Grasberg operations have on the East Indonesian province of Irian Jaya. Operated by Freeport-McMoRan Copper & Gold (FCX-N) through its 85.87% ownership …
Hornby Bay ponders JV
Junior Hornby Bay Exploration (HBBY-C) is courting three unnamed companies to evaluate the diamond potential of 210,434 ha it holds in western Nunavut.Overseeing the discussions is newly appointed boa…
The Northern Miner North American Mining Index (December 13, 1999)
94.48 (+2.63)(Sept. 30/98 = 100)…
The Northern Miner Small Producers Index (December 13, 1999)
60.17 (-1.8)(Sept. 30/98 = 100)…
NAME CHANGES (December 13, 1999)
Primo Resources (PRI-V) has changed its name to Primo Resources International (PII-V) on a 1-new-for-4-old-share basis.
Miramar buys into Hope Bay project
Vancouver — Vancouver-based Miramar Mining (MAE-T) has inked a deal with Cambiex Exploration (CBX-T) to acquire a half-interest in the Hope Bay gold project in Nunavut.Miramar currently operates the …
Tandem drills Tilly Lake
Toronto-based Tandem Resources (TDM-M) has begun drill-testing showings of copper, gold and silver at its Tilly Lake property in northwestern Ontario.The showings occur in a 300-metre-long-by-30-metre…