Boliden reserves cleanup funds
A US$34-million provision for liabilities arising from the tailings dam failure at the Los Frailes mine in Spain gave Boliden (BOL-T) a loss of US$52.1 million over the second quarter of 1998.The comp…
News
Argosy Mining finances stake in Aussie junior
Argosy Mining (AGO-V) has spent more than $800,000 in acquiring a 19% interest in Australian-based Andover Resources.The Vancouver-based junior acquired 3 million shares of Andover, which controls the…
Partners revise deal
Partners Pangea Goldfields (PDG-T) and Explorations Minires du Nord (MDN-M) have revised their joint-venture agreement affecting three properties in the Lake Victoria Goldfields district of Tanzania….
Viceroy prepares to drill in Argentina
Viceroy Resource (VOY-T), eager to test-drive a new gold property in the Argentine Andes, has scheduled drilling for late August.The property, called Gualcamayo, is underlain by limestones that are, i…
Royal Oak’s Kemess on track to reach targets
The newly opened Kemess gold-copper mine in north-central British Columbia is well on its way to meeting production targets, reports owner Royal Oak Mines (RYO-T).As a result of meeting assay specific…
DIAMOND PAGE — Nora tests Namibian concession
A marine diamond concession on the western coast of southern Africa has provided a new focus for Nora Exploration (nxi-m), a Montreal-based junior involved in several diamond projects in Africa.Earlie…
Glamis, Mar-West plan to tie knot — Merger would accelerate development of San Martin deposit
A proposed merger agreement would see Glamis Gold (GLG-T) acquire all the issued and outstanding shares of Mar-West Resources (MSR-V).Under the proposed arrangement, each Mar-West shareholder would be…
Russian diamond output stalls as new projects proposed
The Yakutia region of northeastern Russia produced cut and polished diamonds worth US$20 million in the first half of 1998.As a result of a shortage of rough diamonds, Tuimaada Diamond, the region’s l…
Luscar extends Manalta buyout offer — Manalta takes loan in hopes of keeping unit-holders on side
Luscar Coal Income Fund has revised its original offer to unit-holders of Manalta Coal Income Trust in its bid to take over Canada’s largest coal producer.Luscar has extended its offer to Aug. 28 and …
Ukrainian mine blast kills 24
A methane blast at a coal mine in eastern Ukraine has killed 24 miners, seriously injuring four others.Rescue workers have recovered 20 bodies since the Aug. 16 explosion at the 19th Communist Party C…
Meetings (August 24, 1998)
Aug. 31, AranleeAug. 31, Canadian MonoAug. 31, GoldmaxAug. 31, GronarcticAug. 31, Porcher Island GoldAug. 31, Red EngineAug. 31, RichmarkSept. 2, AquestSept. 2, CancorSept. 2, Cotton ValleySept. 2, Ne…
MINING MARKET & INVESTMENT NEWS — INSIDER TRADING — Fund expands holding in DiamondWorks
Roberston Stephens Investment Management, a large fund with numerous mining and mineral exploration interests, has increased its holdings in DiamondWorks (DMW-V). The fund, which is required to report…