High grades extend Tabakoto
Nevsun Resources (NSU-T) intersected several high-grade, steeply dipping pods of gold mineralization while drill-testing the downdip extension of the Tabakoto project in Mali, West Africa.The 50-hole,…
News
INSIDER TRADING — Sinclairs sell more Sutton shares
Insider trading reports issued by the Ontario Securities Commission (OSC) show that James and Barbara Sinclair, each of whom held more than 10% of the outstanding shares of Sutton Resources (STT-V), w…
FACTS ‘N’ FIGURES — Exploration spending on rise
Exploration expenditures for nonferrous metals have increased for the fourth year in a row, according to a study released by Metals Economics Group (MEG).The mining research firm reports that total wo…
Noranda takes shine to Brazilian base metals
Noranda (NOR-T) will earn a 70% interest in the Aripuana base metals project in Brazil’s Mato Grosso state from juniors Ambrex Mining (AMBX-C), Ourominas Minerals (OMI-T) and St. Genevieve Resources (…
MOST ACTIVE ISSUES, Oct. 29-Nov. 4
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Drilling confirms Tres Cruces gold
Ongoing diamond drilling by Oroperu Resources (OROP-C) and joint-venture partner Pan American Silver (PAA-T) continues to confirm the presence of gold mineralization at the Tres Cruces project in nort…
EDITORIAL — Remembering the alma mater — Giving it back
The University of Toronto has produced some of the world’s top geologists and mining executives, and many of these former students have gone to make names for themselves in the highly competitive mini…
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…
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…