Fortune options NICO property
An option agreement with Fortune Minerals (CDN) will allow a private company to earn a 20% interest in the NICO group of claims in the Mazenod Lake area of the Northwest Territories.To do so, the priv…
News
No Headline (May 15, 1995)
Under an agreement with the transitional government of Ethiopia, Golden Star Resources (TSE) has been granted exploration leases in the East African nation.The 90 licences constitute what is known as …
Eastmain plans drilling programs
Drill contracts have been submitted for tender, and surface gridding is expected to begin soon at the Kidd project of Eastmain Resources (CDN) in Timmins, Ont.The junior was recently awarded a $26,000…
Musto backs Rio/North offer
A takeover bid of International Musto Explorations (TSE) by Rio Algom (TSE) and North Ltd. of Australia has the support of Musto’s board of directors.RN Galaxy, a company formed by Rio and North, offe…
TVX Gold eager to join million-ounce club
Management of TVX Gold (TSE) will use its “killer instinct” to produce more than 1 million oz. gold annually by 1998, Chairman Eike Batista told shareholders at the annual meeting in Toronto.”We shoul…
Kinross outlines plans for growth
Mine expansion and acquisition plans should give gold-silver producer Kinross Gold (TSE) annual output of 500,000 oz. gold-equivalent by the end of 1996.At the annual meeting, President Robert Buchan …
CIM luncheon hosts Westmin
The May 26 luncheon of the Vancouver branch of the Canadian Institute of Mining, Metallurgy and Petroleum will hear a presentation about Westmin Resources and its prospects.President Walter Segsworth …
Spot prices at a glance (May 15, 1995)
Wednesday, May 10Price (US)Week’sChangeGold*$383.40-$5.40Silver*$5.48-$0.40Platinum*$435.50-$17.25Nickel**$3.15-$0.02Lead**$0.26-$0.01Copper$1.24-$0.01Zinc$0.46-…
B.C. Government offer not enough for Royal Oak Mines
Following several meetings with the government of British Columbia, Royal Oak Mines (TSE) and Geddes Resources (TSE) have withdrawn their respective bids to acquire the Kemess South gold-copper projec…
Aur steps up exploration drive
Now that the Louvicourt mine near Val d’Or, Quebec, is running smoothly, operator Aur Resources (TSE) plans to use its 30% share of cash flow to seek out nearby orebodies.”We plan to reinvest a good p…
Chase drills Bai Saripinang
Drills are turning at the Bai Saripinang gold project on the Philippine island of Mindanao.Vancouver-based Chase Resources (TSE) owns a 40% interest in the Philippine firm Bai Saripinang, which owns t…
STOCK MARKETS — Voisey Bay, diamonds fail to spark western markets
Western markets took a breather from the rash of speculation concerning the Voisey Bay area of Labrador and diamonds in the Northwest Territories during the report period ended May 9.The Vancouver Sto…