News

LAST BUT NOT LEAST — Bre-X hits gold in Indonesia

A drill hole on Bre-X Minerals’ (ASE) Busang prospect in East Kalimantan, Indonesia, has intersected gold mineralization. BRH-4A, the first hole in a program of 10, returned 4 grams gold per tonne ove…


Sikaman to convert preference shares

At the annual meeting in Toronto, shareholders of Sikaman Gold Resources approved management’s proposal to convert all Series A, B and C preference shares into common shares. A total of 2.4 million pr…


Dayton gets bank loan for Chilean play

An underwriting commitment from Barclays Bank and Banque Paribas will help Dayton Mining (TSE) bring its Chilean gold project to production. The two banks agreed to lend the company US$50 million, sub…


LAST BUT NOT LEAST — Correction (April 11, 1994)

Producer Rio Algom (TSE) generated revenue of $22.1 million in 1993 from the combined disposition of its interests in El Condor Resources (VSE), St. Philips Resources (VSE) and two other portfolio inv…


Monarch Res. files prospectus

London-listed Monarch Resources has filed a preliminary prospectus for shares valued at $US30 million. About US$20 million will be offered to Canadians and the remainder will be offered to existing sh…


Copper doldrums force Crew to drop Red Dog project

The poor price of copper has prompted Crew Natural Resources (VSE) to drop its interest in the Red Dog copper-gold project on northern Vancouver Island. The decison was also influenced by BHP Minerals…




NEWS ROUNDUP — Graphite sales up 6% for Stratmin

North America’s largest producer of natural graphite, Stratmin (ME), has reported a 6% increase in sales. The company sold $12 million worth of graphite in 1993, compared with $11.3 million in 1992. M…



Southern Peru raises funding

Southern Peru Copper has raised US$250 million of a US$300-million investment program to expand production and improve environmental protection. The program includes a 41,000-ton-per-year solvent extr…



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