Citadel terminates lease on Wawa mill
Toronto-based Citadel Gold Mines (TSE) has terminated the lease on its Surluga gold mill in Wawa, Ont. The lease had been held by Monk Gold & Resources (ASE). Citadel is reviewing its gold property an…
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Highlights of the first 50 years
On Nov. 29, 1938, at North Bay, Ont., members of the American Diamond Drill Core Manufacturers Association met with some of the principal drill operators and manufacturers in Canada. The purpose of th…
Cyprus options Queenston bet near Kirkland
The Canadian exploration unit of a major U.S. company has stepped in to fill the shoes of Battle Mountain Canada on the Amalgamated Kirkland property near Kirkland Lake, Ont. Cyprus Canada, a unit of …
Glamis Gold places 1.25 million shares
Glamis Gold (TSE) has entered into an agreement with Loewen, Ondaatje, McCutcheon to place 1,250,000 common shares at a price of US$8.625 per share for gross proceeds of $10.8 million. This sale is in…
Altai options Peruvian property
Toronto-based Altai Resources (TSE) has entered a joint-venture agreement with Chimu Mining of Lima, Peru, covering property in the South American country. Alta has acquired an option to earn a 60% in…
Biron Bay makes rights offering
A rights offering is being made to shareholders of Biron Bay Resources (ASE) entitling them to buy one unit in the company at 80 cents for every 10 rights held. Each unit consists of one common share …
LATIN AMERICA ROUNDUP — Venezuelan leader may face
The head of the Supreme Court of Venezuela has recommended President Carlos Andres Perez be indicted for allegedly misusing US$17.2 million. The allegations have sparked protests and civil unrest, wit…
NEWS ROUNDUP — Lac announces odd-lot program
Toronto-based Lac Minerals (TSE) has initiated an “odd-lot selling program” to buy shares of Lac and certain predecessor companies from shareholders who hold 99 shares or fewer. For shareholders with …
NEWS ROUNDUP — Cross Lake hits zinc near Timmins
A hole drilled while testing for electromagnetic anomalies on the Fox Stimson property, 70 km northeast of Timmins, Ont., has intersected three mineralized zones, reports Cross Lake Minerals (VSE). No…
NEWS ROUNDUP — Goldstream reserve boosted
A recalculation of minable reserves at the Goldstream mine near Revelstoke, B.C., has resulted in a 26% increase over estimates made last November. Bethlehem Resources (TSE) and Goldnev Resources (VSE…
NEWS ROUNDUP — Bre-X options Indonesian bet
Calgary-based Bre-X Minerals (ASE) has signed an agreement in principal to earn an 80% interest in an Indonesian gold project. The 57,571-hectare property contains three gold prospects, one of which r…
Federal government to sell Cameco shares
The federal government intends to sell half its 19.2% interest in Saskatchewan uranium producer Cameco (TSE) for $102.5 million. Five million shares will be sold to the public at $20.50 per share by a…