Pangea confirms high grade
The latest results from the Tulawaka project in Tanzania indicate that the high-grade gold mineralization discovered earlier this year is continuous, reports 70%-owner Pangea Goldfields (PGD-T).Pangea…
1998
MINING MARKETS & INVESTMENT NEWS – WESTERN MARKETS — Investors look south as Labrador juniors slide
The Vancouver Stock Exchange composite index was off 10.41 points during the report period ended Dec. 8, closing at 382.67. The mining index followed suit, losing 8.96 points, or 3.1%, to finish at 28…
Claude arranges placement
Saskatoon, Sask.-based Claude Resources (CRJ-T) has arranged a brokered flow-through private placement with Canaccord Capital to sell, on a best-efforts basis, up to $1.5 million in shares or special …
Largest gold producer to get bigger
An agreement-in-principle sets the stage for Anglogold (AU-N) to acquire the gold assets of Minorco (MNRCY-Q).The South African major offered Minorco US$550 million in cash for its interests in five o…
General Minerals hits high-grade copper
Drilling at the Escalones porphyry prospect in central Chile has encountered high-grade copper values for General Minerals (GNM-T).Results from the first drillhole suggest the deposit has the potentia…
NEWS ROUNDUP — Eurasia finances Kazakstani work
Calgary-based Eurasia Gold (EGX-A) expects to raise $6 million for further work on its gold projects in Kazakstan through a private placement with Ourominas Minerals (OMI-T).Ourominas will purchase 60…
Kinross takes huge writedown
Kinross Gold (K-T) will take a writedown of US$216 million against its fourth-quarter results.The writedown consists of US$104.6 million from the company’s merger with Amax Gold, US$46.9 million on th…
Junior plans Quebec program
An exploration program is being planned by Tom Exploration (TUM-M) for the le Lefebvre copper-zinc property in Quebec’s Chibougamau mining district.The junior intends to drill the newly acquired prop…
Almaden stakes Alaskan ground
Almaden Resources (AMH-V) and Williams Creek Explorations (WCX-V) have jointly staked a 13,120-acre claim block in the Goodpaster gold mining district of east-central Alaska.The Sonora claim block adj…
DIAMOND PAGE — De Beers signs deal with Verena
An agreement between Verena Minerals (VMCO-C) and a unit of De Beers Consolidated Mines (DBRS-Q) sets the stage for ongoing exploration of Verena’s Porto Nacional concession in Brazil’s northern state…
Lac des les turns a profit
North American Palladium (PDL-T) has pocketed a small profit for the third quarter as a result of improvements in costs and productivity at the Lac des les palladium mine near Thunder Bay, Ont.The ju…
EDITORIAL & OPINION – COMMENTARY — Stainless to join low demand club
The stainless steel market in 1997 was one that transpired from ongoing optimism to that of great uncertainty. Despite the recovery of the global economy from a slower period of growth in 1996, with i…