Homestake active in Venezuela
San Francisco-based Homestake Mining (NYSE) is planning exploration and drilling for several newly acquired gold properties 25 km northwest of Venezuela’s Kilometre 88 district. Through a bidding proc…
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STOCK MARKETS — Heavy trader Tenajohn slides 70 cents on
Western markets took it on the chin over the week ended May 10, despite a rebound in gold to US$380 per oz. The Vancouver Stock Exchange resource index lost more than 30 points to close at 1,044.91, w…
Commodity price index declines
After rising for several months, The Bank of Nova Scotia’s commodity price index declined by 1.1% in March. A substantial drop in agricultural prices and a smaller decline in forestry products and oil…
Armistice raises project financing
Proceeds from a rights offering amount to about $1.1 million for Armistice Resources (ME), after commissions and expenses. More than 7.2 million shares were bought at 18 cents per share in the over-su…
Andacollo drill results positive
Results from ongoing drilling at the Andacollo project in central Chile have Dayton Mining (TSE) predicting an increase in reserves. The proven and probable minable figure is now estimated at 30.7 mil…
Canmine delineates target on Fer play
Junior Canmine Resources (CDN) has outlined a new target area on its Fer project in northern Manitoba. The target, known as the Island zone, is interpreted as lying vertically at a depth of more than …
NEWS ROUNDUP — Holmstead options DKO property
An option agreement allowing International Holmstead Resources (VSE) to acquire the DKO property in northeastern Ontario has received regulatory approval. The 800-claim property is in Gauthier Twp., n…
Juniors continue land grab in Fort MacKay region
Several juniors are continuing to add to their land positions near Fort MacKay in northeastern Alberta. Interest in the region began growing last spring after Focal Resources (ASE) announced that it h…
Sudbury Contact raises exploration funds
Junior Sudbury Contact (TSE) has completed a flow-through private placement worth $1 million. The company will issue 166,666 shares to associated company Agnico-Eagle Mines (TSE). Sudbury Contact will…
NEWS ROUNDUP — Bachelor, Espalau merger complete
Now that shareholders have approved the proposed merger of Bachelor Lake Gold Mines (ME) and Espalau Mining (ME), the former will become a wholly owned subsidiary of Espalau and will be known as Espal…
BOOKS IN REVIEW — Cobalt walking tours
A Guide to Historic Cobalt, by Peter Fancy. Published by the Temiskaming Abitibi Heritage Association. For mail orders, contact the Highway Book Shop, Highway 11S, Cobalt, Ont. P0J 1C0. 40 pages. $3.7…
NEWS ROUNDUP — Hillsborough to expand Quinsam
Negotiations allowing Hillsborough Resources (TSE) to arrange financing for a planned $14.1 million expansion at the company’s Quinsam coal mine on Vancouver Island, B.C. are well under way. The expan…