Roads point way to Quebec’s riches
The discovery of a number of gold and base metal showings in northwestern Quebec is prompting explorers to call on the provincial government to build more roads throughout the region. Juniors and pros…
News
Cambior to repay bill by June
In a deal struck with its lenders and hedge providers, Cambior (CBJ-T) will repay US$75 million of its US$212-million loan obligations by June 30, 2000.This interim payment is part of a preliminary ag…
Seahawk pulls emeralds from core
Infill drilling by Seahawk Minerals (SKM-V) has returned two large stones, each weighing 75 carats, from the Piteiras emerald property in Brazil.The company intercepted the walnut-sized stones in a 2….
Grasberg mine transforms Irian Jaya
Vancouver — There is no denying the impact the Grasberg operations have on the East Indonesian province of Irian Jaya. Operated by Freeport-McMoRan Copper & Gold (FCX-N) through its 85.87% ownership …
Blackstone drops Rimfire’s Falcon option
Vancouver — Lack of exploration funds has forced Blackstone Resources (BZZ) to cancel its option on the Falcon gold property, held by Rimfire Minerals (RFM-V), in Alaska. The property is 40 km southe…
Omolon repays debt financing
The Kubaka mine in far eastern Russia has enabled owner Omolon Gold Mining to repay US$50 million of the US$130 million in debt financing it received from the European Bank for Reconstruction & Develo…
Rough ride for gold
Denver — Fallout from the Bank of England’s gold auction, combined with a decision by the Dutch government to sell 300 tonnes of gold, sent the market on a roller-coaster ride for the report period e…
JCI
Denver — Ashanti Goldfields (ASL-N) has submitted a restructuring plan, together with a financial and operating review, to its hedge counterparties and lending banks, extending to mid-December the fr…
Cambior may sell Carlota
Denver — Faced with a heavy debt load, Cambior (CBJ-T) is considering selling its Carlota open-pit copper project in Arizona.In September, a Federal District Court in Arizona upheld a record of decis…
CDNX bullish after first week jitters
Vancouver — After stumbling out of the starting gate last week, the new Canadian Venture Exchange (CDNX) index managed to gain some momentum, posting a gain of 46.93 points, or 2.4%, to finish the we…
Northern Orion restructures debt with Miramar’s help
Vancouver — Northern Orion Explorations (NNO-T), further in the red following a series of writedowns attributed to its Mantua gold operation in Cuba, has arranged a refinancing with parent Miramar Mi…
EVENTS (December 13, 1999)
Jan. 23-24 Cambridge House Int’l — “Vancouver Investment Conference.” Hotel Vancouver, Vancouver, B.C. Phone: (604) 227-7722.Jan. 25-28 B.C. & Yukon Chamber of Mines — “Cordilleran Geology and Explo…