Monopros walks from Alberta JV
Monopros, the Canadian subsidiary of De Beers Consolidated Mines (DBRS-Q), has pulled out of a joint venture with Troymin Resources (TYR-A) following an unsuccessful drill program in the Buffalo Hills…
News
Partners drill San Antonio
Operator Atna Resources (ATN-T) and partner Energold Mining (EGD-V) have launched a 7-hole, 2,000-metre drill program on the San Antonio-1 concession in the Dominican Republic.The program will test th…
Cambior options Lac Elmer
An option agreement with Cambior (CBJ-T) sets the stage for another round of exploration at Eastmain Resources’ (ER-T) Lac Elmer gold project, 300 km north of Matagami in northern Quebec.The Quebec mi…
Rio boosts production, cuts costs
A 50% increase in copper production and an 18% reduction in cash costs helped Rio Algom (ROM-T) stay in the black last year despite a 29% drop in the average price of the red metal.The major reported …
U.S. MARKETS — Dow climbs toward new high
The Dow Jones industrial average climbed 247.39 points over the report period ended Feb. 23, to 9,544.42 — 100 points shy of a new high.Mining issues were mixed. Most copper producers continued to su…
OVERSEAS QUOTES (March 01, 1999)
Close: Tuesday February 23, 1999SOUTH AFRICA (SA Rand)StockVolumeCloseAnglovaal Mg298,30024.50…
Drills spin at Buffalo Hills
As many as 25 targets will be drill-tested this winter by Ashton Mining of Canada (ACA-T) as it searches for additional kimberlites in the Buffalo Hills region of north-central Alberta.Ashton is opera…
Barrick makes bid for Sutton
In a move aimed at securing its first African mine, Barrick Gold (ABX-T) has offered to acquire all the outstanding shares of Sutton Resources (STT-T), 85%-owner of the Bulyanhulu gold deposit in sout…
DIAMOND NEWS — Mountain Lake advances Klipgat
Mountain Lake Resources (MOA-V) has approved plans for alluvial mining at its Klipgat 18 concession in South Africa.Exploration at the property, situated on the Mooi River in Transvaal province, outli…
SouthernEra resumes search for Yuryi source
Toronto-based SouthernEra Resources (SUF-T) is continuing its search for the source of diamond-bearing boulders found near the shore of Munn Lake at the Back Lake project in the Northwest Territories….
DIAMOND NEWS — Namibian first lady honoured
Namibia’s first family was on hand at the christening of the MV Kovambo, a mining ship owned by Namibian Minerals (NMR-T) and named after the country’s first lady.More than 200 people attended the cer…
Aur suffers market blues
Weak copper prices combined with a $6.6-million writedown on certain securities, properties and exploration costs resulted in a loss for Aur Resources (AUR-T) in 1998.The company posted a loss of $2.5…