Ashanti commits to African projects
Ashanti Goldfields (ASL-N) intends to spend US$28 million on exploration in Africa during 1997.The company’s managing director, Peter Cowley, says two-Thirds of the funding will be directed towards ex…
News
GOLD FUNDS (June 30, 1997)
Gold Funds as of June 19, 1997BGRCentralNet Value$20.02$5.87Price$15.15$5…
SPOT PRICES (June 30, 1997)
Wednesday, June 25, 1997Price(US)Week’s ChangeGold*$338.70- $3.35Silver*$ 4.77…
Shaft completed at Bissett mine
With its principal shaft now complete from surface to the main haulage level, Rea Gold (REO-T) has finished about 95% of the construction at its Bissett gold mine in eastern Manitoba.The former gold p…
Vulcan Minerals to drill Carbonear property
A summer exploration program by Vulcan Minerals (VUL-A) will test the potential of the Carbonear base metal property, 80 km west of St. John’s, Nfld.The property covers several large gossan zones and …
DIAMOND PAGE — Russians to pass diamond regulations
Legislation regulating the export and import of rough diamonds in Russia is receiving final approval from President Boris Yeltsin.Once the law is passed, a new trade agreement is expected to be negoti…
Cumberland buys remainder of Meadowbank
Cumberland Resources (CBD-T) has agreed to a deal that will see its interest in the Meadowbank gold property, 70 km north of Baker Lake, N.W.T., increased to 100%.The deal with Comaplex Resources (CMF…
Demand for PGMs in industry, jewelry on rise
Demand for platinum in 1996 rose by 40,000 oz. to 4.9 million oz., led by increased industrial use and the manufacture of jewelry in the U.S. and China, according to a report published by British-base…
Earnings dip for Agnico-Eagle
Canadian gold producer Agnico-Eagle Mines (AGE-T) reported a net loss of $800,000 for the first quarter ended March 31, down from net income of $1.8 million a year earlier.The company attributed the l…
Tests confirm Nico’s potential
Further metallurgical studies have reinforced the favorable results of earlier tests performed on mineralization at the Nico polymetallic prospect, 170 km northwest of Yellowknife, N.W.T.Samples that …
San Martin results add glitter
The latest drill results from the Sinter hot spring gold zone at the San Martin concession in central Honduras indicate that the domal hill target is strongly mineralized on the eastern and southern s…
YGC’s Ketza to feed Mt. Nansen mill
In keeping with its plans to make the Mt. Nansen mine near Carmacks, Y.T., a central milling operation, BYG Natural Resources (BYG-T) has concluded a joint-venture agreement with YGC Resources (YGC-V)…