TORONTO STOCK EXCHANGE INDICES (May 11, 1998)
1998May 5May 4May 1Apr. 30Apr. 29HighLowComposite…
News
FINANCINGS (May 11, 1998)
Cimarron Minerals (CIU-V) has arranged a brokered private placement of 2 million special warrants at 32cents each, for gross proceeds of $640,000.Each special warrant is exchangeable for one share and…
Treminco acquiring Montana gold mine — Newmont unit to get cash, shares
Junior Treminco Resources (TMO-T) has signed a letter-of-intent with two subsidiaries of Newmont Gold (NGC-N) to acquire the Elkhorn gold project in Montana.Treminco must issue 550,000 shares and pay …
Newcrest buys into Argentine gold play
Australia’s Newcrest Mining is acquiring a controlling stake in the Canada Onda gold property in central Argentina from Solitario Resources (SLR-T).The Aussie miner can earn up to a 60% interest in th…
Banks topic of CIM lunch
Central banks and the international gold market will be the focus of the next luncheon of the Toronto branch of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), to be held May 21 at 1…
Inmet looking for buyer for Antamina — Expansion planned for Troilus; Teck shares on block
Pressured by a September deadline to commit to the huge Antamina copper project in Chile, Inmet Mining (IMN-T) recently began talks with ten large base metal producers regarding a possible sale of its…
Noranda forges sulphur pact as part of restructuring
Toronto-based Noranda has signed an agreement with Wilmington, Del.-based chemical giant DuPont to form Noranda DuPont LLC, a 50-50 joint venture, to market, transport and distribute sulphuric acid in…
Gitennes drilling Alumbre
Gitennes Exploration (GIT-T) has moved two drill rigs on to the Alumbre gold pect at its Virgen property in north-central Peru in an effort to determine the extent of mineralization. Further stepout d…
Cleanup plan gets nod
Boliden (BOL-T), whose Los Frailes mine was shut down by a tailings dam failure on April 25, now estimates that repairs to the dyke and remedial work downstream from the break could put the mine back …
Teck hits copper values
Teck (TEK-T) has enountered low-grade copper mineralization in its first round of drilling at the Mocha porphyry prospect in northern Chile.Under an agreement with its joint-venture partner, Royal Sil…
Low costs salvage profit for Aur
The smooth operation of two low-cost mines enabled Aur Resources (AUR-T) to turn a fourth-quarter profit in the face of lower copper and zinc prices.Aur reported earnings of $377,000 (or 1 cent per sh…
Ontario, BC prospectors get funding
The Ontario government is looking to boost mineral exploration in the province by putting $2 million into the Ontario Prospectors Assistance Program (OPAP).”We support the mineral exploration industry…