Black Hawk and Granduc Mining sign merger deal
Black Hawk Mining (TSE) and Granduc Mining (TSE) will merge under an agreement that will also clear a large debt from the latter’s books.Each Granduc share can be traded for one share in the merged co…
News
Quebec benefits from higher metal prices, investment
The Canadian economy may have stumbled in the first half 1995, but Quebec’s mining industry experienced encouraging year-end results nonetheless.High interest rates at the beginning of the year, the s…
GOLD FUNDS (February 26, 1996)
Gold Funds as of Febuary 15, 1996BGRCentralNet Value$22.20$7.11Price$18.38$6.750Discount17.22%5.1%Value$173,542,000$122,170,275…
Copper, moly prices gave boost to Cyprus Amax
On the strength of higher sales and lower costs, Cyprus Amax Minerals (NYSE) reported record earnings for 1995.Excluding writedowns and special items, the company earned US$462 million (US$4.77 per sh…
COMMENTARY — Lac de Gras and the environment
Land and self-government agreements with natives in the central Arctic should be made before diamond mining begins there, urges the Canadian Arctic Resource Committee (CARC).CARC made its recommendati…
Skarn zone outlined at Rock Creek
Drilling on the Rock Creek joint venture in southern British Columbia is outlining a zone of skarn mineralization.Phoenix Gold Resources (VSE) and Orion International Minerals (VSE) jointly hold a 51%…
Coeur, Galena mines to reopen
Silver Valley Resources, a joint venture between Coeur d’Alene Mines (NYSE) and Asarco (NYSE), will reopen the Coeur and Galena silver mines near Wallace, Idaho.The former closed in 1991 as a result o…
Minefinders drills Bolsa oxide zone
Drilling at Minefinders’ (VSE) Bolsa property in Mexico’s Sonora state is testing a near-surface, highly oxidized zone of gold-silver mineralization.Mineralization has been tested over a strike length…
Goldstake grabs Indonesian ground
Shareholders of Goldstake Explorations (TSE) will meet on March 14 to approve share issues to finance the acquisition of three properties in Indonesia.Goldstake has already announced the acquisition o…
U.S. Hall of Fame set to expand
The National Mining Hall of Fame and Museum is constructing a replica of a coal mine.The museum already features a walk-through replica of a hardrock mine (complete with twisting caverns, mine timbers…
High uranium price adds value to Cameco
Toronto-listed Cameco has posted its best-ever year-end results, thanks to a 25% increase in the spot price of U3O8 and record sales for uranium concentrates.Spot prices of U3O8 jumped to US$12.20 per…
METALS MARKET — Gold rally is showing signs of fizzling out
Predicting gold prices is not for the faint of heart. Nevertheless, when the price broke through US$400 per oz. in early February, several analysts noted that the yellow metal was clearly in an uptren…