Placer Dome Inc

Midway through a US$10-million exploration campaign at the Cortez gold mine in Nevada, Placer Dome (PDG-T) has started a feasibility study. The move comes after the major increased proven and probable reserves by 2 million oz.,…

The report period has been reduced to two days this issue because The Northern Miner office is moving. The Aug. 10-11 period saw the price of gold close down US$5.15 at US$393.85 per oz. in the afternoon in London.

Surging oil prices and anemic job growth south of the border sent gold US$7.05 higher to US$399 per oz. during the Aug. 4-9 report period. Still, the Toronto Stock Exchange’s gold index only managed to edge 0.58 of a point higher to 185.28. The di…

Greenshield Resources (GRE-V) has intersected significant gold at the “A” zone in Newton Twp., 100 km southwest of Timmins, Ont.

Seabridge Gold (SEA-V) has improved the gold resource at its Fat deposit, on the Courageous Lake property, 240 km northeast of Yellowknife, N.W.T.

Vancouver — Stronger gold and copper prices resulted in a more profitable second quarter for Placer Dome (PDG-T).

The report period July 28-Aug. 3 saw the price of gold close down US$9.05 at US$390.95 per oz. in the afternoon in London. The Toronto Stock Exchange was closed Aug. 2 because of a civic holiday.

Vancouver — Through an option agreement, Montreal-based Dia Bras Exploration (DIB-V) can acquire the Promontorio gold-silver-copper property in northern Mexico by paying US$3 million in cash over five years.

Vancouver — Placer Dome (PDG-T) intends to drill an additional 9,800 ft. at the Indian Ranch property in Nevada.

A sagging gold price pushed the Toronto Stock Exchange’s gold index 9.28 points, or 4.8%, lower to a 2.5-month low of 183.89 during the July 21-27 report period.