Homestake restructuring should save $25 million
By year-end, Homestake Mining (NYSE) expects to complete a major corporate restructuring which is expected to reduce its annual administrative and exploration expenses by more than $25 million beginni…
News
Louvem shareholders OK reorganization
Shareholders of Societe Minere Louvem (TSE) have approved a plan to divide Louvem into two distinct public companies. A new company, Novicourt Inc., will retain Louvem’s 45% interest in the US$326-mil…
Murray Brook drilling cuts good grades NovaGold confirms
Results from 12 inclined holes at the Murray Brook mine in northern New Brunswick confirm that a significant primary copper zone underlies the lower-grade supergene layer now being mined. Testing 350-…
NEWS ROUNDUP — Conwest increases stake in Professor
Recently increasing its ownership position in Consolidated Professor Mines (TSE) was Conwest Exploration (TSE). Conwest purchased 829,949 shares of Professor under a private agreement and now owns mor…
Mt. Polley first to get past B.C.’s assessment process
A mine development certificate was recently awarded to Imperial Metals (TSE) for its 100% owned Mt. Polley copper-gold project near Williams Lake, B.C. The project is the first major new mine authoriz…
NEWS ROUNDUP — Barrick’s 9-month earnings rise 60%
A 66% increase in gold production at American Barrick Resources’ (TSE) Goldstrike mine in Nevada helped boost the company’s net income to US$109.4 million for the nine months ended Sept. 30. This repr…
LETTERS TO THE EDITOR — Discontented prospector takes The
It is unfortunate that your staff resorts to derogatory commentary when reviewing press releases issued by juniors while glossing over some of the spectacular disasters engineered by majors. Two recen…
EDITORIAL PAGE — Fighting an anti-mining tide
Ontario’s Ministry of Northern Development and Mines (MNDM) has been taking some hard knocks over the past few years for its failure to promote the mining industry. The province’s own figures show tha…
MINER DETAILS — Madsen puts hope in `Mr. Chibougamau’
Our readers love to take us to task; for stories not written, for biased reporting, for outright mistakes. But we are also asked for information. “About Red Lake Buffalo Resources,” writes A.B. from W…
LATIN AMERICA ROUNDUP — Nicaragua selling mining assets
The Nicaraguan government is selling some state-owned mineral assets, including two operating mines, that were nationalized when the Sandinista regime was in power. To be privatized are the operating …
PROFILE — Howe stays ahead of crowd in diamond hunt
Years before the diamond fever flared up in the Northwest Territories, Peter Howe acquired a diamond property in central Africa for Ateba Mines. Recently, TSE-listed United Reef Petroleums farmed in f…
Updated study for Refugio deposit
Board approvals were received by Bema Gold (TSE) and Amax Gold (NYSE) to close a transaction whereby Amax will become a 50-50 partner with Bema to jointly finance and develop the Refugio gold project …