News

The parliament of Ghana has authorized the government to privatize gold producer Ashanti Goldfields. Minister of Finance and Economic Planning Kwesi Botchway told Agence France Presse in Accra that “t…

The joint owners of Falconbridge, Noranda (TSE) and Swedish-based Trelleborg are investigating the possibility of a treasury issue of common shares of Falconbridge. Proceeds would be used to reduce de…

Toronto-listed American Gem has issued to European investors 1.5 million shares at $3.88 per share. Proceeds from the $5.8-million offering will be used to make property payments and develop the Monta…

By spending $2 million on exploration and paying $300,000 cash, Santa Fe Canadian Mining will earn a half interest in Globex Mining’s (ME) Victoria gold project. Situated in Clericy Twp., Que., the pr…

Vancouver-listed Annabel Gold Mines has raised $700,000 to explore the Carissa mine property near South Pass City, Wyo. The mine is owned by Hol-Lac Gold Mines (CDN). Since its discovery in 1867, 30,0…

While investor interest has mostly been focused on gold, the price of silver has run up quite nicely recently. During this report week, for example, the price rose US17 cents to US$5.59 per oz. Slight…

With gold near a 2-month high, at just below US$390 per oz., even the recent steep jump in the bank rate failed to shake western markets. The Vancouver Stock Exchange resource index shot up 58.85 poin…

At $17.42 an hour, the average wage here for an underground miner is still well above that paid to industrial workers in Canada. But for the 290 unionized employees of MSV Resources (TSE), it represen…

Toronto-listed Rayrock Yellowknife Resources plans to increase its ownership in the Dee gold mine to 100% from the current 44% It will buy a 44% interest from Corona Gold, a wholly owned subsidiary of…

Junior Golden News Resources (VSE) has raised more than $11 million to buy Mexican-based Minera Sanex and prepare that company’s Luz del Cobre copper project for production. The junior raised the fund…

In return for quarterly payments of US$50,000, to a total of US$200,000 plus 100,000 common shares, Cadre Resources (VSE) can acquire the Venezuelan property known as El Encanto. Situated in the Marwa…

Recent letters by Siegfried Muessig and Patrick Burns published in The Northern Miner have challenged my role in the discovery of the Escondida orebody in Chile. Theirs are remarkable assertions, give…