Ayrex Resources unveils plan to reorganize
A planned reorganization would see Ayrex Resources (ASE) acquire exploration interests in Newfoundland and Labrador, and trade its present oil and mining interests for shares in parent Tandem Resource…
News
Armada ups stake in Russian company
Alberta-listed Armada Gold has purchased an additional 85% interest in Balgold through the exercise of options. Balgold is the Russian joint stock company created by Armada and its Russian partners.As…
DIAMOND NEWS ROUNDUP — River Ranch output hits record high Diamond production from the River Ranch mine in Zimbabwe reached record heights in 1995.
Redaurum (TSE) says output reached 225,516 carats, thanks partly to the comissioning of the phase III plant.In November alone, a 65-carat diamond was mined.The company anticipates production of 500,00…
DIAMOND NEWS ROUNDUP — Sweden object of diamond interest
The Swedish mining inspector’s office reports that diamond exploration permits now cover most of the country.Interest has been strong since August 1994, when Australia-based Ashton Mining announced th…
Madsen raises funds for underground exploration
Madsen Gold (TSE) has raised $402,500 in a flow-through share offering.The funds will be applied to underground exploration costs at the past-producing Madsen gold mine in Red Lake, Ont. In addition t…
STOCK MARKETS — Golds keep lifting TSE higher and higher
Gold and energy stocks drew the Toronto Stock Exchange upward through the first four days of the report period ended Jan. 9, culminating with a record high on Jan 8. But weakness in technology stocks …
Armistice defines gold zones at property in Virginiatown, Ont.
Drilling is virtually complete at the Virginiatown, Ont., gold property of Armistice Resources (ME).The 20,000-ft. program defined the extent and configuration of the 100N, 185N and 260N gold zones, a…
Orvana plans to raise funds for Bolivian property purchase
Taking advantage of strong gold markets, Orvana Minerals (TSE) plans to raise $16.6 million to finance its purchase of the Don Mario project in Bolivia.The company will issue 3.3 million special warra…
Noveder sells Nugget Pond stake to Richmont
Rouyn-Noranda, Que.-based junior Noveder (ME) has signed over its 40% interest in the Nugget Pond gold project to partner Richmont Mines (TSE).Situated on Newfoundland’s Baie Verte Peninsula, Nugget P…
Gold Funds (January 15, 1996)
Gold Funds as of January 4, 1996BGRCentralNet Value$18.27$6.69Price$14.50$6.500Discount20.63%2.8%Value$142,843,000$117,645,450…
Spot prices at a glance (January 15, 1996)
Wednesday, January 10, 1996Week’s Price (US)ChangeGold*$396.75+$6.25Silver*$ 5.54+$0.19Platinum*$415.85+$9.85Nickel**$ 3.42+$0.08Lead**$ 0.31$0.00Copper $ 1.18-$0.07Zinca$ 0.4…
STOCK MARKETS — Rising gold price adds oomph to Western markets
With gold prices on a run towards the US$400 mark, western markets surged ahead over the report period ended Jan. 9. The resource index advanced 43.66 points to close at 1,335.71, while the composite …