Hedman Res. completes placement
Alberta-listed Hedman Resources has completed a $500,000 private placement with European investors. Hedman has been operating an open-pit mine and mill complex near Matheson, Ont., for the past two de…
News
NEWS ROUNDUP — Minera Rayrock issues warrants
Junior Minera Rayrock (TSE) is issuing a private placement of 8 million special warrants. Each special warrant, priced at $2.50, will entitle the holder to recieve one subordinate voting share of the …
Regal options bet
Regal Goldfields (CDN) can earn a half interest in Copperquest’s (CDN) Kidd base metal property near Timmins, Ont. In return, Regal must spend $65,000 on exploration and give Copperquest $10,000 cash …
NEWS ROUNDUP — Drill results in from Hislop ground
Final results from a 31-hole program on the Hislop property have been released. Values from the final three holes range from 2.42 grams gold per tonne over 1.5 metres to 6.27 grams over 1.5 metres. Th…
Moscow bank appoints Newbury
The Russian Project Finance Bank, which serves as a link between Russian companies seeking investment and Western companies wishing to provide the same, has appointed Michael Newbury as executive dire…
Metall reducing MIM interest
Copper producer Metall Mining (TSE) is significantly reducing its stake in MIM Holdings of Australia. The Toronto-based company is selling 100 million shares of MIM at A$2.35 per share, which will res…
TVX Gold options Pachicutza project in Ecuador
Producer TVX Gold (TSE) is set to acquire an Ecuadoran gold property from La Direccion de Industrias del Ejercito (DINE), a state-owned company which participates in the private sector. The Pachicutza…
Noranda in Bourlamaque option
Noranda Exploration, a unit of Noranda (TSE), can earn a half interest in the southern portion of Wrightbar Mines’ (ME) Bourlamaque property, near Val d’Or, Que. The rocks underlying this portion of t…
NEWS ROUNDUP — Higher recovery at Gilt Edge mine
A bulk heap-leach test of sulphide ores from the Gilt Edge deposit in South Dakota indicates a recovery rate higher than previously thought. The property is owned by Dakota Mining (TSE). In October, 1…
NEWS ROUNDUP — NovaGold offers process to partner
Angostura Mining C.A. of Venezuela and NovaVenez, a subsidiary of NovaGold Resources (TSE), are forming a joint-venture company. The company will research ore processing for a plant to be constructed …
THE DIAMOND PAGE — Lac de Gras update
At a recent conference Rory Moore, manager of BHP Canada’s diamond program, provided an overview on the origin and emplacement of diamonds, as well as details of the company’s joint venture with Dia M…
Overseas Quotes (December 20, 1993)
Bid Ask SOUTH AFRICA (US$) Anglo Amer S.A. 43.88 44.25 Cons Modderfontein 0.18 0.26 Debeers Cons 23.75 24.00 Driefontein Cons 12.62 12.88 Freestate 16.25 16.50 Kloof Gold Mining 11.25 11.38 Rustenburg…