Noranda files $500m of debt securities
Noranda (TSE) has filed a preliminary, short-form, shelf prospectus with the Ontario Securities Comission. The prospectus will allow the major to file up to US$500 million worth of debt securities for…
News
Environmental concerns raised about two Noranda projects
Environmental concerns about two mining projects in the U.S. were raised at the annual meeting of Noranda (TSE) in Toronto. In Montana, Noranda affiliate Hemlo Gold Mines, through 60%-owned Crown Butt…
World uranium output downin ’93, though Canada stable
World uranium production declined by almost 8% during 1993, to 85.3 million lb. equivalent U308. While production in most countries remained relatively stable, major decreases were recorded by the Cze…
Zinc market an obstacle to Pend Oreille’s development
A feasibility study of the Pend Oreille base metal mine in Washington state concludes that RFC Resource Finance (TSE) can profitably develop the Yellowhead zone at a zinc price of US55 per lb. Diluted…
Dufresnoy raises $750,000 from Mazarin
Montreal-listed Mazarin Mining has subscribed to half of a $1.5-million private financing to be completed by Dufresnoy Industrial Minerals (ME). Marazin will obtain 1.4 million units at 55 cents each …
Meliadine joint venture under exploration
Exploration is under way at the Meliadine gold project, 9 miles north of Rankin Inlet, N.W.T. Partners Cumberland Resources (VSE) and Comstate Resources (TSE) are planning a 3-phase program of ground …
EDITORIAL PAGE — A taxing history
We don’t pretend to be economists, but we do feel confident in possessing a rudimentary grasp of the major tenets of modern-day economics. We know, for example, that the modern government penchant for…
Golden Star acquires Venezuelan gold plays
Denver-based Golden Star Resources (TSE) and its Venezuelan partner, BPC, have entered an agreement to earn a 60% interest in the Increible 6 and Valle Hondo group of properties. The vendor is the Inv…
Hemlo’s gold production down, but earnings up
Despite a 5% drop in production at its two gold mines, Hemlo Gold Mines (TSE) managed to increase earnings in the first quarter, compared with the same period a year ago. Combined production from the …
Battle Mountain starts expansion plan
In the first quarter, Battle Mountain Gold (NYSE) had a consolidated net income of US$2.8 million on revenues of US$52.8 million. This compares with a net loss of US$3.2 million on revenues of US$60 m…
Noranda convicted in mine fatality
A sentencing hearing has been scheduled for May 31 to deal with the conviction of Noranda Minerals on three violations of the Occupational Health and Safety Act. The conviction stems from a 1991 fatal…
Gold and the federal reserve system
The largest concentration of refined gold lies in the vault of the Federal Reserve Bank of New York (FRBNY). It is held there in safekeeping mainly for foreign monetary institutions which make extensi…