Westmin to finance Lomas Bayas work
Westmin Resources (WMI-T) has closed a US$120-million offering of senior secure notes, which it will use to repay a loan and develop the Lomas Bayas project in Chile.The notes, which were priced at pa…
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METAL PRICES — FREE MARKET (March 24, 1997)
London Metal ExchangeMidday bid-ask prices in $US per tonneDateMar. 18Mar. 17Mar. 14Mar. 13Mar. 12…
Teck takes over Australian producer
Teck (TEK-T) and its Australian partner, Camelot Resources, have acquired 92% of the outstanding shares of producer Mount Edon Gold Mines. The takeover is valued at A$170 million.Teck acquired a 14.5%…
Reserves triple at Limon gold mine
Idaho-based Fischer-Watt Gold (FWGO-O) has tripled proven and probable reserves at its Limon gold mine in northwestern Colombia.The figure now stands at 99,400 tonnes grading 16 grams gold per tonne, …
THE DIAMOND PAGE — Early startup planned at Tongo Fields project
Near-surface diamond production at the Tongo Fields project in Sierra Leone will enable Rex Diamond (RXD-T) to fund development of an underground mine at the site.Rex will soon be producing diamonds f…
Goldcorp confirms Red Lake extension
Exploratory drilling has extended zones of high-grade gold mineralization at the Red Lake mine in northwestern Ontario, Goldcorp (G-T) reports.The extensions were intersected as deep as the 40 level (…
NEWS IN BRIEF (March 24, 1997)
Consolidated Valley Ventures (CVL-V) has changed its name to CVL Resources (CVL-V).
Hanover ups stake in S.W. Montana
The acquisition of Easton-Pacific Mining has allowed Idaho-based Hanover Gold (HVGO-Q) to tighten its grip on the Alder Gulch mining district in southwestern Montana.In a deal worth US$10 million, Han…
Sampling adds potential to CMM’s Yemen play
Canadian Mountain Minerals (CYM-A) has received encouraging geochemical samples from its gold exploration project in northwestern Yemen.More than 80 samples were found to contain anomalous gold, as we…
Columbia welcomes financing
Welcome Opportunities (WLO-V) will buy 1 million units of its joint-venture partner, Columbia Gold Mines (COB-V), at $1.15 each.A unit consists of one share and one non-transferable share purchase war…
PRODUCER PRICES (March 24, 1997)
ALUMINIUM: LME settlements US$1,610 per tonne, alloy $1,510 per tonne (Mar. 18/97).ANTIMONY: Composite free market, US$2,175 per tonne (Mar. 18/97).BISMUTH: Composite free market US$3.15 per lb. (Mar….
Alberta Stock Exchange files notice of hearing against Naxos
The Alberta Stock Exchange (ASE) has filed a notice of hearing against Naxos Resources and its president, Jimmy John.Trading in the company’s shares has been halted since May 1996.The notice alleges v…