NEWS ROUNDUP — Osito to drill in Costa Rica
A 300-metre drill program is planned for the Turin property in Costa Rica. Owner Osito Ventures (VSE) plans to drill-test previously identified gold mineralization. Three epithermal vein systems have …
1995
Metal prices boost Asarco earnings
Higher metal prices and reduced operating costs contributed to improved year-end results for Asarco (NYSE). Asarco earned US$64 million (or US$1.53 a share), compared with US$15.6 million (or US38 cen…
Arequipa’s Peru assets interest anonymous major
An unnamed “major international mining company” intends to earn a 60% interest in five of Arequipa Resources’ (VSE) copper porphyry prospects in Peru. (The major asked Arequipa not to disclose its ide…
OroGrande interested in Brazil
Alberta-listed OroGrande Resources, formerly known as Trev, intends to acquire an 80% interest in the Princeza gold mine property in Brazil’s Paraiba state. The junior will spend $3.3 million and make…
Copper, molybdenum prices boost Cyprus Amax earnings
Higher molybdenum and copper prices last year enabled Cyrus Amax Minerals (NYSE) to report earnings of US$175 million (or US$1.69 per share) on revenues of US$2.8 billion. That compares with earnings …
MINING IN AFRICA SPECIAL — St. Genevieve acquires gold
Montreal-based St. Genevieve Resources (TSE) has acquired the Jean-Gobele gold property in Guinea, West Africa. The transaction appears to be a coup for the junior as the property already hosts a pote…
Arequipa adds to treasury
A special warrant financing has raised $2.1 million for Arequipa Resources (VSE). The warrants were issued at 75 cents each and are convertible, at no extra cost, into one additional common share. The…
PRODUCER PRICES (February 06, 1995)
ALUMINUM: MW U.S. market US97.5 cents-98.5 per lb. (Jan. 13, 1995). ANTIMONY: MW New York dealer US$2.80-2.90 per lb. (Dec. 2, 1994). BISMUTH: MW New York dealer US$3.90-4.10 per lb. (Dec. 23, 1994). …
INSIDER TRADING — Goldcorp execs exercise options, sell
Two senior officers of Goldcorp (TSE) exercised options and sold shares in December. According to the Ontario Securities Commission’s OSC Bulletin, senior officer Catherine David-Nolan exercised 15,00…
MINING IN AFRICA SPECIAL — Niger seeks to diversify mining
The African nation of Niger (not to be confused with Nigeria) is a landlocked country south of the Sahara Desert. The mining industry plays an important role in the economy, largely because of importa…
Drilling at Copper Mountain
Initial drilling on the Copper Mountain property near Mina, Nev., has returned several oxide copper intersections. Mina Resources, an affiliate of TSE-listed Quest Capital (formerly Noramco Mining), c…
Atlin gold camp geology studied
A 48-page study published by the Geological Survey Branch of the British Columbia Ministry of Energy, Mines and Petroleum Resources describes the geology of a large portion of the Atlin gold camp. Bul…