Nevsun to sell Kubi to Ashanti Goldfields
African producer Ashanti Goldfields (AHD-T) will pay Nevsun Resources (NSU-T) US$1.8 million, in addition to a production royalty, for surface rights to the Kubi gold project in Ghana.Nevsun owns 100%…
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Battle Mountain writes off stake in Lihir — More gold produced at Golden Giant, Kori Kollo
To fund development projects in the U.S., Battle Mountain Gold (BMG-N) will dispose of its interest in the Lihir gold mine in Papua New Guinea.The company holds an 8.65% interest in the mine’s owner, …
Drill results keep AG in spotlight
While drilling continues, along with discussions with major mining companies, Argentina Gold (ARP-V) has released an updated resource estimate for two targets at its 60%-owned Veladero gold-silver pro…
TSE INDICES (March 01, 1999)
1999 — DateFeb. 23Feb. 22Feb. 19Feb. 18Feb. 17HighLow…
LME WAREHOUSE LEVELS (March 01, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Feb.23/99 (change from Feb. 16 in brackets):MetalStocks(tonne)Change…
Electra finds rocky road at Rambler
The unfavourable results of a due diligence review by a potential partner have prompted Electra Gold (ELT-V) not to proceed with the Rambler tailings project in the Baie Verte region of Newfoundland.T…
NEWS ROUNDUP — BYG suspends mining Mt. Nansen
Milling and mining operations have ceased at the Mt. Nansen gold-silver mine, 120 miles north of Whitehorse, Y.T.Operator B.Y.G. Natural Resources (BYG-T) was told to close the mine by the water resou…
Viceroy extends mineralized zone at Gualcamayo
Junior Viceroy Resource (VOY-T) is encouraged by further results of reverse-circulation drilling at its Gualcamayo project in Argentina’s San Juan province.The 1,400 metre, 9-hole program was designed…
Driefontein, Gold Fields launch complex merger transaction
A reverse-takeover deal between Driefontein Consolidated (DRFNY-Q) and parent company Gold Fields (GDFDY-O) is the final step in a complex series of transactions aimed at quelling confusion over the o…
Drills spin at Buffalo Hills
As many as 25 targets will be drill-tested this winter by Ashton Mining of Canada (ACA-T) as it searches for additional kimberlites in the Buffalo Hills region of north-central Alberta.Ashton is opera…
Barrick makes bid for Sutton
In a move aimed at securing its first African mine, Barrick Gold (ABX-T) has offered to acquire all the outstanding shares of Sutton Resources (STT-T), 85%-owner of the Bulyanhulu gold deposit in sout…
More strong medicine for Inmet Mining
Another year of restructuring has left Inmet Mining (IMN-T) with a healthier balance sheet and a net profit of 25 cents a share.The Toronto-based company earned $31 million on revenue of $106 million …