Buchans River options ground from Noranda
St. John’s, Nfld.-based Buchans River (BUY-A) has agreed to option the Little Sandy base metal properties in the central region of its home province.The vendor, Noranda Mining & Exploration, a subsidi…
News
SouthernEra tallies resource
Toronto-based SouthernEra Resources (SUF-T) has attached a resource figure to the partly owned Camafuca diamond pipe in Angola’s Lunda Norte province.Resources are pegged at 88 million cubic metres gr…
TSE raps knuckles of Cumberland, Comaplex
Regulatory concern has prompted Cumberland Resources (CBD-T) and Comaplex Minerals (CMF-T) to clarify information pertaining to an independent scoping study of the Meliadine West gold project, 20 km n…
Barrick plans new mines, cuts costs
While it won’t rival the giant Goldstrike operation in size, the Pierina gold mine in Peru is expected to incur production costs considerably lower than those reported for Barrick Gold’s (ABX-T) corne…
Rayrock gains remainder of Daisy mine
Rayrock Resources (RAY-T) is acquiring the remaining 65% interest in the Daisy gold mine from sister company Inter-Rock Gold (IRO-T).Currently, 35%-owner Rayrock operates the open-pit mine, which is n…
Noveder drills Cabot
Noveder (NED-M) has intersected more copper-cobalt mineralization at its Cabot property in Newfoundland’s Baie Verte region.Within most holes, Noveder has delineated two zones of sulphide mineralizati…
GUEST COLUMN — Yellowknife indebted to mining
Throughout Canada’s history, hundreds of communities have grown and prospered because of mining developments. While we all applaud these mines for the jobs they create, we often overlook the other imp…
ODDS ‘N’ SODS — The magnificent Kootenays
The Kootenay district of south-central British Columbia is blessed with magnificent mountains, rivers, lakes and scenic valleys. At its centre is 407-sq.-km Kootenay Lake, into which the Kootenay Rive…
LETTERS TO THE EDITOR — Bishop responds to accusations
In a recent letter (“Industry needs dose of credibility,” T.N.M., June 29-July 5, 1998), Daniel MacAlpine writes, “When Bob Bishop blamed the Crystallex loss on the crooked Venezuelan courts, he shirk…
SPOT PRICES (July 27, 1998)
Wednesday July 15, 1998Price (US)Week’s ChangeGold*$294.40+ $1.60Silver*$ 5.65…
U.S. MARKETS — Dow drops from near high
The Dow Jones Industrial average plunged more than 100 points on July 21, the final day of our report period, after nearly touching the 9,400 mark.Overall, the Dow was off 55.35 points at 9,190.19.On …
MINING MARKETS AND INVESTMENT NEWS — Query — Little or no hope for Galactic
I’m a shareholder of Galactic Resources, which in 1990 was Robert Friedland’s flagship company. At the time, it owned and operated the Summitville mine in Colorado and had total assets of $120.7 milli…