Meetings (March 11, 1996)
March 18, Madrona — annual, general, specialMarch 19, Citadel Gold — annualMarch 19, Credo Mining — annual, general, specialMarch 19, Eaglecrest — annual, generalMarch 19, New North — specialMarc…
1996
Noranda concludes Yamana earn-in
Noranda Mining & Exploration (a unit of Toronto-listed Noranda) has notified Yamana Resources (TSE) that it has elected to terminate the earn-in agreement on the Tierra del Fuego massive sulphide proj…
Newmont Gold increases overall reserve base
One of America’s largest gold producers, Newmont Gold (NYSE), has increased its reserve base for the fifth consecutive year.The cumulative reserve base has grown 50% since 1990.Newmont ended 1995 with…
Nescor to join forces with Armada
Deal-maker Robert Friedland has struck again, this time combining an asset from a private company with one owned by Armada Gold (ASE).The result?A copper-gold mining company based in Central Asia.Arma…
Conductors outlined at Okak Bay property
A geophysical survey completed for Vancouver-listed partners Golden Trump Resources and Noront Resources has outlined three conductors on the Okak Bay 2381 property, 80 km north of Voisey’s Bay, Labra…
Michelle zone boosts Cusac
Production from the Michelle Highgrade zone at the Table Mountain Mine property in northern British Columbia helped Cusac Gold Mines (TSE) report a fourth-quarter profit of $1 million.Cusac milled 8,4…
Altai unit eyes Philippine property
Toronto-listed Altai Resources has completed the incorporation of Altai Philippines Mining, which will act as the company’s exploration arm in that country. Altai will have a 40% equity interest.Along…
Hedging survey shows high derivatives usage
A survey prepared by Price Waterhouse shows that mining companies make significant use of derivatives to create positions in the commodities of their primary and co-products.A total of 41 North Americ…
Westmin Res. back in black for 1995
With its Myra Falls operation on Vancouver Island back on stream, Westmin Resources (TSE) reported a net profit of $11.8 million for 1995 on revenue of $110.7 million.Cash flow from operations amounte…
JAG eyes Mint tailings
An agreement with a numbered Ontario company will give JAG Mines (ME) a half interest in a project to reprocess refinery tailings from the Royal Canadian Mint in Ottawa.Mint waste discharged into Nepe…
Minorca Resources seeks to buy interest in Busang gold project
An agreement with an Indonesian company sets the stage for Minorca Resources (ME) to acquire a 70% interest in 6% of production from the Busang gold deposit in Kalimantan, Indonesia.Minorca’s agreemen…
Diamond valuation is in for Namco
Diamonds recovered from the Luderitz Bay project of Namco (VSE) have been valued by a leading international firm of diamond assessors.A total of 1,296 stones, approximately half of the total recovered…