Government of Ghana reducing Ashanti stake
The parliament of Ghana has authorized the government to privatize gold producer Ashanti Goldfields. Minister of Finance and Economic Planning Kwesi Botchway told Agence France Presse in Accra that “t…
News
Gold Reserve gets more financing
Having just negotiated a private placement of one million special warrants in February, Gold Reserve (TSE) reports that the underwriters have exercised their option for an additional million special w…
Falconbridge share issue pondered
The joint owners of Falconbridge, Noranda (TSE) and Swedish-based Trelleborg are investigating the possibility of a treasury issue of common shares of Falconbridge. Proceeds would be used to reduce de…
American Gem completes financing
Toronto-listed American Gem has issued to European investors 1.5 million shares at $3.88 per share. Proceeds from the $5.8-million offering will be used to make property payments and develop the Monta…
NEWS ROUNDUP — Santa Fe options Globex ground
By spending $2 million on exploration and paying $300,000 cash, Santa Fe Canadian Mining will earn a half interest in Globex Mining’s (ME) Victoria gold project. Situated in Clericy Twp., Que., the pr…
NEWS ROUNDUP — Annabel to explore Wyoming bet
Vancouver-listed Annabel Gold Mines has raised $700,000 to explore the Carissa mine property near South Pass City, Wyo. The mine is owned by Hol-Lac Gold Mines (CDN). Since its discovery in 1867, 30,0…
NEWS ROUNDUP — Mongolia Gold active in Bumbat
By carrying out exploration work in the Mongolian People’s Republic, Mongolia Gold Resources (MGR) is earning a 49% interest in the Bumbat property. The property is situated 200 km west of the north-c…
NEWS ROUNDUP — Dragon Gem options Corner Bay play
In northern Mexico, Dragon Gem (VSE) is earning a half interest in the Las Vigas copper project from a wholly owned subsidiary of Corner Bay Minerals (ME). Situated in Chihuahua state, the 3,474-hecta…
NEWS ROUNDUP — Globex hits zone at Duquesne West
Montreal-listed junior Globex Mining reports promising results from drilling on the Duquesne West gold project in northwestern Quebec. The company intersected 18.9 ft., which averaged 0.34 oz. gold pe…
Surveys reveal attitudes toward mining
National polls are the only practical means available for determining Canadians’ perceptions and opinions on certain issues and why they feel and think the way they do. On the other hand, all such sur…
THE DIAMOND PAGE — Joint venture discovers diamonds in
Partners War Eagle Mining (VSE) and Great Western Gold (VSE) have discovered three diamondiferous kimberlite pipes on their 50-50 joint venture near Candle Lake, north of Fort a la Corne, Sask. The dr…
EDITORIAL PAGE — Anticipation
There are about three hundred economists in the world who are against gold, and they think that gold is a barbarous relic — and they might be right. Unfortunately, there are three billion inhabitants…