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…
News
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…
De Beers options AfriOre ground
AfriOre (AFO-V) has farmed out two of its projects in Botswana to a division of De Beers Consolidated Mines (DBRS-Q).In the Kokong project, where AfriOre holds a 58% interest and Billiton the balance,…
NEWS IN BRIEF (March 01, 1999)
Jopec Resources (JPR-V) has changed its name to Fortuna Ventures (FVI-V) on a 1-new-for-7-old-share basis.
Russia renews promises for coal reform — Proposals include cash, mine designations, increased exports
Russian Prime Minister Yevgeny Primakov has pledged $780 million to the country’s battered coal industry as the first step in a new government restructuring plan.The money will be used to pay wages ow…
Meetings (March 01, 1999)
March 1, Curran BayMarch 2, Int’l DatashareMarch 3, WindarraMarch 9, Cons. AbitibiMarch 9, IntertechMarch 9, LakewoodMarch 9, MustangMarch 9, RamarroMarch 10, Harvey CreekMarch 10, MacMillanMarch 10, …
Holmer resource up after drill program
A 36-hole shallow drill program by Holmer Gold Mines (HGM-T) has permitted a new resource calculation at the company’s Bristol Twp. project, west of Timmins, Ont.Holmer’s new estimate of 1.96 million …
Battle Mountain writes off stake in Lihir — More gold produced at Golden Giant, Kori Kollo
To fund development projects in the U.S., Battle Mountain Gold (BMG-N) will dispose of its interest in the Lihir gold mine in Papua New Guinea.The company holds an 8.65% interest in the mine’s owner, …
Profits, hedging buoy Placer Dome
With gold production reaching a record high and cash costs falling to a record low, Placer Dome (PDG-T) bucked the industry trend and recorded a strong financial and operating performance for 1998.The…