Bre-X action names Barrick
Claiming that Barrick Gold (ABX-T) knew as early as October 1996 that Bre-X Minerals’ Busang gold deposit was a hoax, lawyers representing shareholders in a class-action suit have named the gold produ…
News
Franco buys Stillwater royalty from Johns Manville
In the biggest acquisition in company history, Franco-Nevada Mining (FN-T) purchased Johns Manville’s last remaining royalty interest in the Stillwater platinum-palladium mine in Montana.The Toronto-b…
Crystallex blames short sellers for share erosion
When doubts surfaced a year ago that Bre-X Minerals had only fool’s gold at Busang, the company blamed short sellers and a “well-oiled misinformation campaign.” Management of Crystallex International …
Royal Oak finds savior
Royal Oak Mines (RYO-T) has obtained US$120 million to help finance the completion of the Kemess gold-copper mine in north-central British Columbia.Toronto-based Trilon Financial came to the rescue, a…
Semafo drills West African nickel and gold concessions
Semafo (SMF-T) has released encouraging results from recent drilling at its Kaloum, Jean-Gobele and Lopal concessions in Guinea and Burkina Faso in western Africa.At the Kaloum/Mount Kakoulima concess…
Meetings (April 06, 1998)
April 6, DoublestarApril 6, First GoldApril 6, RankinApril 6, South American Gold & CopperApril 7, DobranaApril 7, HaddingtonApril 7, IrianaApril 7, Pan AfricanApril 8, CartaApril 8, WestallApril 9, B…
Dayton posts year-end loss
Increased gold production for Vancouver-based Dayton Mining (DAY-T) was no match for higher costs and lower gold prices in 1997.Dayton’s wholly owned Andacollo open-pit gold mine in Chile produced 91,…
Sulliden doubles resource
Sulliden Exploration (SUE-M) has upped its resource estimate for the Los Socavones epithermal gold zone on its 100%-owned Las Huaquillas property in northwestern Peru.The new estimate pegs Los Socavon…
LATIN AMERICA — Stratabound pins hopes on Sierra Azul — Geophysical work proving invaluable
Hoping to add new life to an old producer, Calgary-based junior Stratabound Minerals (SB-A) continues to explore its Sierra Azul lead-zinc-silver property in Mexico’s Coahuila state.Situated 50 km sou…
LATIN AMERICA — Legal reforms put Brazil on mining fast track
Although Brazil is touted as the most geologically diverse and prospective mineral region in Latin America, it has only recently begun to attract the foreign investment necessary to elevate it what go…
LATIN AMERICA — Lyon Lake begins commercial gold production at Beta Vargas
Following its first gold pour in early December, Lyon Lake Mines (LLL-M) has entered full commercial production at its Beta Vargas open-pit gold mine in Costa Rica.The successful launch of the heap-le…
Property writedowns keep TVX in red ink
Lower cash costs at several of its operations were not sufficient to prevent TVX Gold (TVX-T) from reporting a loss of US$50 million (or 36cents per share) for 1997.The medium-tier producer reduced to…