Equinox merger
The directors of Hecla Mining (NYSE) have approved a merger with Equinox Resources (TSE). Each company has satisfactorily completed its due diligence review, though the proposal is still subject to ex…
1994
NEWS ROUNDUP — Altai studies Tassawini project
Junior Altai Resources (TSE) will complete a final feasibility study of the Tassawini gold project in Guyana. The property is a 50-50 joint venture with Menora Resources (ME). Altai is the operator. A…
Brimstone reserve skyrockets
Additional drilling this year on the Brimstone deposit at the Crofoot-Lewis heap-leach mine in Nevada has boosted the resource estimate by more than 60%. Owner Hycroft Resources & Development (VSE), a…
WCB rates to decrease for most miners in Ontario
At a time when its reputation is being seriously damaged by claims of financial mismanagement, the Ontario Workers Compensation Board (WCB) is sending a mixed message to the provinces mining sector. A…
1993 A LOOK BACK — Mining pioneer dies
The Canadian mining industry lost its queen bee of prospecting with the death of Viola MacMillan. She was 90. MacMillan was president of the Prospectors and Developers Association of Canada for 21 yea…
NEWS ROUNDUP — Infill drilling at New World
Infill drilling by Crown Butte Resources (TSE) has added 28,000 oz. gold to underground geological reserves at the New World project in Montana. The summer program, consisting of 16 surface holes tota…
Rio Algom terminates Key Anacon option
Citing the unlikelihood of finding a base metals deposit to meet its economic requirements, Rio Algom (TSE) has dropped its option on the Key Anacon Mines (TSE) property in the Bathurst camp of New Br…
Flag resumes drilling Wanapitei anomaly
Drilling has resumed at Flag Resources (ASE) Wanapitei property near Sudbury, Ont. At presstime, a 1,700-ft. hole at Wolf Lake had been extended to 2,000 ft. on its way to a targeted depth of 3,000 ft…
Record price paid for Nymex seat
A seat on the New York Mercantile Exchange (Nymex) recently sold for a record US$400,000. The previous high of US$395,000 was set a few days earlier, which surpassed an earlier record value of US$350,…
GOLD FUNDS (January 03, 1994)
Gold Funds as of Dec. 28 BGR Central Net Value $15.78 $6.49 Price $14.25 $6.750 Premium 4% Discount 9.67% Value $88,367,000 $122,170,275…
1993 A LOOK BACK — Brookbank appeal, Seabright ruling
Significant court rulings in 1993 included an appeal decision concerning the Brookbank gold project in northwestern Ontario and the Seabright case in Nova Scotia. In a decision by the Ontario Court of…
Green light for Freeport expansion
By the end of 1995, Freeport-McMoRan Copper & Gold (NYSE) expects to have expanded its mine and mill in Indonesia. An expansion to 115,000 from 66,000 tonnes per day is planned. The completion is to b…