Rex reports discovery in Mauritania
A sampling program by Rex Diamond Mining (RXD-T) has resulted in the discovery of two diamonds found in two samples at the El Hammami lease in northern Mauritania.The samples were taken as part of a s…
News
Claude cuts costs at Seabee
A cost-cutting program has enabled Saskatoon-based Claude Resources (CRJ-T) to report a 25% reduction in operating expenses at the Seabee gold mine in the La Ronge district of northern Saskatchewan.Th…
LATIN AMERICA — Magna solidifies holdings
Junior Consolidated Magna Ventures (CMV-V) has earned a majority interest in the Koala I property in Mexico’s Chihuahua state.The Vancouver-based company now owns a 70% interest in the 990-ha property…
Philex racks up more losses
Plummeting production at its Philippine operations has resulted in the third straight quarterly loss for Philex Gold (PGI-T).For the 3-month period ended June 30, the Toronto-based company posted a ne…
LATIN AMERICA — Campbell explores near San Gertrudis
Despite the dramatic drop in the price of gold since last fall, Campbell Resources (CCH-T) has reported 6-month figures similar to those it recorded before the market took a dive.During the first six …
LATIN AMERICA — NEWS ROUNDUP — Northfield buys Eloro shares
Toronto-based Northfield Minerals (NFM-T) has acquired 40,000 shares of Eloro Resources (ELOR-C), a junior company active in Latin America.The latest purchase boosts Northfield’s stake in Eloro to 941…
LETTER TO THE EDITOR — Press reports hurt Eldorado share performance
I have been a subscriber to The Northern Miner for 35 years. I have always read your publication to remain informed of the ever-changing North American mining industry.As you are generally factual and…
MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — Juniors take beating as western markets plunge
The Vancouver Stock Exchange composite index plunged through the 400 level during the report period Aug. 26-Sept. 1 to close at 388.86, down 41.55 points, or 9.7%. The mining index followed suite, she…
Independence options Buckhorn South
Independence Mining has exercised an option with Royal Gold (RGLD-Q) for the Buckhorn South property in Eureka Cty., Nev.Independence, a wholly owned subsidiary of Luxembourg-based Minorco (MNRCY-Q), …
Sutton seeks funds for Tanzanian gold project
Three inauspicious factors — an 18-year low in the price of gold, the bombing of the U.S. embassy in Tanzania and the ongoing conflict in war-torn Democratic Republic of Congo — contributed to the r…
LATIN AMERICA — Barrick’s Latin American growth plans include Pierina, Pascua, Lama
While Nevada’s Carlin trend remains the cornerstone of Barrick Gold’s (ABX-T) gold mining empire, Latin America appears to be prodiving the company with a steady stream of exploration and development …
Pure Gold arranges financing
Diamond explorer Pure Gold Minerals (pug-t) has arranged a private placement of 2 million units priced at 25 cents each. The financing is expected to raise gross proceeds of $500,000.Each unit will co…