NEWS ROUNDUP — Greenstone pays off note
With mining well under way at its wholly owned Santa Rosa gold mine in Panama, Greenstone Resources (TSE) has paid off a US$5-million promissory note prior to its due date. The note, payable to Freepo…
News
Pan Pacific pursues interests in Asia
To position itself closer to its exploration projects in Southeast Asia, Vancouver-based Pan Pacific Gold (VSE) is establishing two base operations, one in Hanoi, Vietnam, and the other in Beijing, Ch…
Kennecott drills Milagro property
Salt Lake City-based Kennecott Exploration has drilled six widely spaced HQ holes (2.5 inches in diameter) on a gold-copper property in Honduras. The 52-sq.-mile concession is held by Milagro Minerals…
Castle Minerals in Mexico
A name change has been proposed for Castle Minerals (VSE), along with a share consolidation on a 2-for-1 basis. (The company has 30.6 million common shares outstanding.) In other activities, the junio…
Red metal’s rise leaves BHP in black
Australian-based resource giant Broken Hill Proprietary (BHP) experienced a jump in sales and other revenues for the 6-month period ended Nov. 1, 1994. The 10% rise was in part due to the improved per…
Pallaum focuses on South Pacific plays
Additions to management and a planned change of focus will take Pallaum Minerals (ASE) to Papua New Guinea in quest of gold. Trading in the issue is currently halted at the company’s request while a r…
Rio Algom buying Alcan division
Copper producer Rio Algom (TSE) is acquiring Alcan Aluminum’s Metals Goods distribution business. Metals Goods operates a network of 39 facilities throughout the U.S. which sells and distributes stain…
Minorca eyeing Espalau assets
Junior Minorca Resources (ME) intends to acquire a half interest in the dormant Bachelor Lake gold mine from Espalau Mining (ME). The company would do so by funding $4.5 million of exploration and dev…
Adrian uncovers new gold zone
At the Petaquilla property in Panama, stepout drilling has confirmed an additional near-surface gold zone for Adrian Resources (TSE). Associated with the Molejon deposit, the new zone is estimated to …
Newmont building mine in Indonesia
Construction is under way at the Minahasa gold project on the northern Indonesian island of Sulawesi. Newmont Gold (NYSE), which owns 80% of the venture, expects to begin production in early 1996 at a…
Eight new members enter Mining Hall of Fame
Eight members of Canada’s mining industry were inducted into the Canadian Mining Hall of Fame at a gala dinner and awards ceremony held recently in Toronto. The Hall now boasts a total membership of 6…
Marshall hits gold west of Timmins
Recently noted for its exploration efforts in Ivory Coast, Marshall Minerals (TSE) has intersected gold on its 251-claim Sangold property near Timmins, Ont. The junior carried out a 15-hole program to…