Westmin to buy into Chilean copper project
Westmin Resources (WMI-T) is acquiring the right to earn a 51% interest in the Vizcachitas copper porphyry project in central Chile.The vendor, Denver-based General Minerals (gnm-t), will receive US$1…
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Echo Bay takes writedown
Echo Bay Mines (ECO-T) took a writedown of US$309.8 million for the third quarter, resulting in a net loss of US$327.5 million (or $2.36 per share).Not including the restructuring charge, the loss amo…
Ashanti hits more gold in Ghana
Ashanti Goldfields (ASL-N) has hit high-grade gold intersections at its Obuasi open-pit mine in the Ashanti region of south-central Ghana.Diamond drilling from underground encountered a 21-metre inter…
STOCK MARKETS — Toronto market calms down after a stormy October — TSE golds mostly down; base metal issues hold steady
The Toronto Stock Exchange jumped off the roller-coaster this past week in favor of the calmer ups and downs of the merry-go-round.Over the report period ending Nov. 4, the TSE 300 composite index was…
A few desperate men and a salt shaker — An excerpt from The Northern Miner’s Bre-X: Gold Today, Gone Tomorrow
In March 1993, David Walsh picked up the phone, tracked down John Felderhof and said he wanted to come to Indonesia to look at mineral properties for his latest junior company, Bre-X Minerals.Walsh la…
COMMENTARY — Planning for our future
This is a time when Canadians should be considering and encouraging the startup of new mines across Canada, and time is of the essence.For too long, governments and communities have complacently accep…
LME WAREHOUSE LEVELS (November 10, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Nov.3/97 (change from previous week in brackets):MetalStock(tonnes)Change…
GOLD FUNDS (November 10, 1997)
Gold Funds as of October 30, 1997BGRCentralNet Value$16.89$5.73Price$13.00…
Inco finds new zones at Voisey’s Bay
Some existing zones have been extended and new zones of nickel-copper-cobalt mineralization have been found at Voisey’s Bay, Labrador, reports Inco (N-T).The company’s exploration drilling and geophys…
Placer joins Arizona Star, Bema at Aldebaran in northern Chile
Placer Dome (PDG-T) has reached a deal with Arizona Star Resource (AZS-V) and Bema Gold (BGO-T) for the right to acquire a 51% interest in the Aldebaran property in northern Chile.Aldebaran is host to…
Kit drills gold target at George Lake property
Assays from summer drilling at the George Lake gold project of Kit Resources (KIT-T) in the Northwest Territories show some strong grades.Assays from drilling on the Goose Lake prospect included: 4.25…
Cross Lake hits copper
Assay results from hole 17 at Cross Lake Minerals’ (CRN-V) Sheraton-Timmins property, east of Timmins, Ont., are confirming the westward extension of the zinc-lead-silver-copper mineralization seen in…