Freewest gains polymetallic prospect near Wawa
Montreal-based Freewest Resources Canada (FWR-T) is acquiring a polymetallic property 65 km northwest of Wawa, Ont., in the eastern portion of the Michipicoten greenstone belt.To earn a 100% interest …
News
Vengold boosts stake in Lihir gold mine
Vengold (VEN-T) has purchased a further 6.5% stake in the Lihir gold mine in Papua New Guinea. The $133.5-million acquisition raises its interest to 19%, making it the largest of Lihir’s stakeholders….
Agnico-Eagle adds tonnage to LaRonde
While Agnico-Eagle Mines (AGE-T) struggles to return to profitability, there has been nothing but good news from the exploration and development programs under way at the company’s flagship LaRonde go…
Breakwater slips into red despite production boost
Low metal prices in the second quarter overshadowed Breakwater Resources’ (BWR-T) impressive gains in zinc, lead and silver production, pushing the company into the red.For the three months ended June…
Placer Dome bucks trend by boosting earnings
Despite low gold prices, Placer Dome (PDG-T) generated stronger cash flow and improved earnings in the 3-month period ended June 30.With production costs reaching a new low of US$150 per oz., includin…
Drilling expands Nevada complex
Indications are that extensive drilling at the Battle Mountain complex in northern Nevada could result in a significant reserve increase for owner Battle Mountain Gold (BMG-N).The Houston, Tex.-based …
LME WHSE LEVELS (August 10, 1998)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Aug.3/98 (change from July 27 in brackets):MetalStocks(tonnes)Change…
PRODUCER & DEALER PRICES (August 10, 1998)
Aluminium: LME settlements US$1,292, alloy US$1,155 per tonne (Aug. 4/98).Antimony: Representative mid-market US$1,280 per tonne (Aug. 4/98).Bismuth: Representative mid-market US$3.55 per lb. (Aug. 4/…
Anaconda to produce uranium in Portugal
Toronto-based Anaconda Uranium (ANU-V) will join a subsidiary of a Portuguese state mining company in developing and mining the Nisa uranium deposits in southern Portugal.The Nisa project consists of …
Newfoundland’s mineral shipments increase
The total value of mineral shipments from Newfoundland and Labrador is expected to total $1.02 billion this year, up from the 1997 preliminary total of $1.01 billion.Shipments of industrial minerals s…
MINING MARKETS & INVESTMENT NEWS — QUERY — Inmet offers to buy back shares
Based on the advice of CIBC Wood Gundy, the board of Inmet Mining (IMN-T) is urging shareholders to tender to the company’s recent offer to buy back up to 65 million of its shares at a 28% premium to …
PEOPLE — Westone Ventures
Duncan Bain and N.R. Newson appointed directors.