Placer drops price of Val d’Or mines
Citing weak gold markets, Placer Dome (pdg-t) is knocking US$15 million off the price of its projects in Val d’Or, Que. The assets are being sold to McWatters Mining (mcw.a-m).The price of the Kiena a…
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Inco lengthens zone at Voisey’s Bay — No economic nickel found beyond Eastern Deeps
Economic grades of nickel, copper and cobalt remain confined to the roughly west-to-east striking band of known zones at Voisey’s Bay, Labrador, reports Inco (n-t).The major’s Voisey’s Bay Nickel unit…
GOLD FUNDS (August 11, 1997)
Gold Funds as of July 31, 1997BGRCentralNet Value$18.26$5.51Price$13.80$5…
ODDS ‘N’ SODS — Beast of burden
.BS.J. HUNTERImagine my shock when the cargo door to the Norseman plane was flung open and a frantic voice called out, “Get this damned beast out of here!”It was 1946 and I was at MacKay Lake, surroun…
EDITORIAL — Ottawa poised to deliver budget surplus — Staying the course
Brian Mulroney may have been right about free trade, but the former prime minister of Canada has nothing to brag about when it comes to his Conservative Party’s track record in curbing government spen…
Blue Emerald gains nod for Nicaraguan project
Toronto-based junior Blue Emerald Resources (ber-v) has received final regulatory approval for its Oro de Murra mining concession in the Nueva Segovia district of northern Nicaragua.To earn a 68.25% i…
Russian mines face bleak future as profits shrivel
Depleting reserves and a lack of development capital are creating a crisis in the Russian mineral sector, according to representatives of the Russian Ministry of Economics.At a conference in Moscow, t…
Newmont breaks record in quarter
Newmont Gold (ngc-n) is the first North American gold producer to have produced 1 million oz. in one 3-month period.During the second quarter, the company produced 1.03 million oz. It is now working t…
Colomac mine prepares to call it a day
The troubled life of the Colomac gold mine in the Northwest Territories will soon come to an end.Owner Royal Oak Mines (ryo-t) has decided to shut down the mine in October, citing a feeble gold price …
Rio Tinto takes Cruces to feasibility
Rio Tinto (rtp-n) has announced it will continue with feasibility work on Las Cruces, a copper property in southern Spain.The company has located copper mineralization 15 km north of Seville, within t…
Tons added at Virginiatown
More drilling by Armistice Resources (aci-m) at its Sheldon-Larder property, southwest of Virginiatown, Ont., has confirmed the existence of mineralization similar to the “flow ore” at the nearby Kerr…
Silver demand rises in 1996 — Mexico and India chief consumers
For the eighth consecutive year, silver demand has exceeded supply from mine production and scrap, according to a survey released by the Washington, D.C.-based Silver Institute.The increased demand in…