Pioneer settles with Westmin
A tentative agreement between Westmin Resources (TSE) and Pioneer Metals (TSE) calls for Pioneer to transfer to Westmin its 40% interest in the Premier Gold project near Stewart, B.C. In return, Westm…
News
Unlisted Trading Swansea secures loan
A private Australian company has agreed to provide a $150,000 loan to finance development at Swansea Gold Mines’ Ruby Creek gold prospect near Wisdom, Mont. The property hosts a 2.56-million-cubic-met…
Westmin plans May startup for Tenajon’s SB
Operator Westmin Resources (TSE) plans to begin mining the 35 zone on the SB property before mid-May of this year, with the first batch of ore scheduled to be milled in mid-July. The company is earnin…
Financing agreement will let Nugget Pond work resume
An agreement in principle has been reached between privately owned National Mineral Corp. and Bitech Corp. (ASE) that will see exploration work resume on the latter’s Nugget Pond gold property in nort…
Insider trading Inco insider sells at discount
Driven by threats of a miners’ strike in the Soviet Union, shares of Toronto-based Inco (TSE), the western world’s largest nickel miner, recently equalled their high for the year of $39.63. However, a…
Placer Dome upsstake in Cache
Vancouver-based Placer Dome (TSE) recently increased its stake in Cache Explorations (ME) to 20.5% from 12.5% by purchasing an additional 600,000 shares of Cache at $1 per share. Cache shares recently…
METAL PRICES FREE MARKET (April 15, 1991)
London Metal Exhange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date April 9 April 8 April 5 April 4 April 3 Copper 1353-1356 1374-1375 1371-1372 1370-137…
Glen Auden deal finalized
An exploration agreement has been finalized by Glen Auden Resources (TSE), Golden Dragon Resources (VSE) and Noranda (TSE), covering a 460-claim property in the Timmins-Swayze area of northern Ontario…
Canchrome sees Reed potential
The latest assays released from a winter drilling program at the Reed-Belanger chromite property near Thetford Mines, Que., leave no doubt the potential for reserves minable by open pit is increasing …
Homestake expects quarterly loss
A first-quarter loss of about US$3 million is expected by Homestake Mining in part because of a flagging gold price and lower gold production. In addition, the company has experienced increased costs….
Executives form environment group
A international organization of mining companies has been formed to promote sound environmental and health policies and practices within the industry. Called the International Council on Metals and th…
Low grade at Chandler
A recently completed drilling program on the Chandler property near Weiser, Idaho, encountered low-grade gold values in a number of holes. The property is a joint venture between Silver Standard Resou…