Spanish Mountain a Likely bet for Cyprus
A wholly owned subsidiary of Cyprus Amax Minerals (NYSE) has begun a $330,000 exploration program on the Spanish Mountain property near Likely, B.C.The major can earn a half interest in the property f…
News
Sherritt International reports solid first quarter
Newly formed Sherritt International (TSE) posted strong earnings for the first quarter.The company earned $8.6 million (or 12 cents per restricted voting share) over the period on revenue of $66.3 mil…
Bre-X shareholders approve poison pill
Shareholders of Bre-X Minerals (TSE) recently approved a shareholders’ rights plan, a stock split and a resolution to spin out the Sangihe and Sable properties in Indonesia.Shareholders approved the r…
Sunshine firms up Argentine deposit
Drilling and sampling have expanded the estimated resource of the Pirquitas silver-tin deposit in northern Argentina.Sunshine Mining & Refining (NYSE) reports that the deposit contains 47.5 million to…
Great Central goes strong in Australia
As a result of higher quarterly production, Great Central Mines (NASDAQ) is on target to produce more than 500,000 oz. gold this year from its Australian operation.Gold production for the quarter was …
Phelps Dodge strong despite price slump
Despite a drop in the price of copper, Phelps Dodge (NYSE) was able to post strong earnings for the first quarter.The company earned US$153.1 million (or US$2.26 per share) for the first quarter, comp…
Earnings dip for Cyprus Amax
Low copper and molybdenum prices, combined with bad weather at its U.S.coal projects, caused Cyprus Amax Minerals (NYSE) to earn fewer profits in the recent first quarter than in the same period last …
Nufort reports results from Barrick drilling
Results are in hand for five holes drilled by Barrick Gold (TSE) on the Michaud project, in which Nufort Resources (TSE) holds royalty interests.The project is 12 miles west of Barrick’s Holt-McDermot…
FACTS & FIGURES — Canadian gold reserves are on the rise
Levels of Canadian reserves of gold were up significantly in December 1994, compared with revised figures for 1993. Given the production decisions announced during 1995 and those expected in 1996, the…
Stratabound exploring Taylor Brook
With one known mineralized zone in hand, Stratabound Minerals (ASE) has resumed drilling its Taylor Brook base metal property in northern New Brunswick.Work to date has been focused on a small part of…
Ashton to process Orion material
A total of 1.3 tonnes of drill core was recovered by Ashton Mining of Canada (TSE) from the Orion kimberlite at the Cross property in the Northwest Territories.The material will undergo separate micro…
STOCK MARKETS — Western markets flex muscles wider
The upward trend for Western markets continues as April proved to be another record-breaking month for the Vancouver Stock Exchange, with 867 million shares changing hands for a value of more than $1….