Altai unit eyes Philippine property
Toronto-listed Altai Resources has completed the incorporation of Altai Philippines Mining, which will act as the company’s exploration arm in that country. Altai will have a 40% equity interest.Along…
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Hedging survey shows high derivatives usage
A survey prepared by Price Waterhouse shows that mining companies make significant use of derivatives to create positions in the commodities of their primary and co-products.A total of 41 North Americ…
Westmin Res. back in black for 1995
With its Myra Falls operation on Vancouver Island back on stream, Westmin Resources (TSE) reported a net profit of $11.8 million for 1995 on revenue of $110.7 million.Cash flow from operations amounte…
JAG eyes Mint tailings
An agreement with a numbered Ontario company will give JAG Mines (ME) a half interest in a project to reprocess refinery tailings from the Royal Canadian Mint in Ottawa.Mint waste discharged into Nepe…
Minorca Resources seeks to buy interest in Busang gold project
An agreement with an Indonesian company sets the stage for Minorca Resources (ME) to acquire a 70% interest in 6% of production from the Busang gold deposit in Kalimantan, Indonesia.Minorca’s agreemen…
Diamond valuation is in for Namco
Diamonds recovered from the Luderitz Bay project of Namco (VSE) have been valued by a leading international firm of diamond assessors.A total of 1,296 stones, approximately half of the total recovered…
Menora Resources buys advanced gold project in Yemen
In south-central Yemen, Menora Resources (ME) has acquired a gold exploration licence that hosts an advanced gold deposit and 35 other gold occurrences.The 340-sq.-km licence includes the Wadi Medden …
Last year a good one for Canadian mineral production
The total value of Canada’s mineral production in 1995 increased by 5.4% (or about $2.2 billion) from its 1994 level, according to figures released by the Ministry of Natural Resources.The total value…
Northfield Minerals raises funds for programs at four properties
Private placement financings have enabled Northfield Minerals (TSE) to fund work programs at four of its properties.Northfield has raised $2.5 million through the issuance of 3.6 million common shares…
STOCK MARKETS — TSE 300 quiet as metal prices fall
The Toronto Stock Exchange had a relatively quiet week, with low to moderate trading volumes and little movement in the indices. The TSE 300 composite index fell 9.53 points over the period Feb. 21-27…
Rio welcomes high prices for copper
Improved copper prices and additional production from the Cerro Colorado mine in Chile helped Rio Algom (TSE) post improved financial results in 1995.The company produced 197.1 million lb. copper in 1…
Canadian deposit types discussed at colloquim
The Geological Survey of Canada’s (GSC’s) fourth biennial Minerals Colloquim in Ottawa attracted representatives from Canadian, as well as foreign, companies.Entitled “Canadian Mineral Deposit Types: …