Production record at Sterling mine
The Sterling gold mine, owned 52% by Cathedral Gold (TSE), turned out 14,109 oz. gold in 1992, the most in its 12 year life. Cash costs increased to US$298 per oz. from US$264 per oz. in 1991, when 12…
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METAL MARKETS — Global mining competition grows
Metal production and consumption estimates for 1992 and projected volumes for 1993 have begun to appear. Some observations: The restructuring of American and Commonwealth of Independent States defence…
USMX continues Tombstone drilling
Drilling by USMX (NASDAQ) has resumed on the Tombstone, Ariz., gold-silver properties of Excellon Resources (VSE) and Valdez Gold (ASE). The first phase involved 26 holes. USMX must decide by the end …
B.C. government ponders next Windy Craggy move
Mines Minister Anne Edwards said the British Columbia government will soon announce “where we go next”on the land-use controversy surrounding the Windy Craggy project in northwestern British Columbia….
NEWS ROUNDUP — New life for Belmoral
Alberta private company Geopetrol Resources has been granted an option by Aur Resources (TSE) to purchase the debt (at least $4.5 million) of Belmoral Mines (TSE) owing to Aur. Belmoral would sell its…
Sutton negotiates property deal
Although details are veiled in secrecy, Sutton Resources (VSE) reports that it has signed a memorandum of understanding on a gold property outside North America. The property is subject to a legal cla…
Scintilore funds
Scintilore Explorations (TSE) says it has reached agreement-in-principle with an investor to raise $1.05 million by way of a private placement. The placement would consist of 1,050,000 common shares a…
Dayton pursues merger proposals
Following the collapse of a funding deal with a Malaysian group for the Andacollo project earlier this year, Dayton Mining (TSE) has retained RBC Dominion Securities to assist in the evaluation of mer…
Roadbed machine under development
A machine for creating a smooth roadbed by grading the floor of a mine drift or ramp is being developed by Inco Ltd. and the Ontario mines ministry. A scarified roadbed is intended to offer low resist…
NEWS ROUNDUP — Dickenson gets shares for Goldquest debt
Dickenson Mines (TSE) has converted the $95,000 owed to it by Goldquest Exploration (TSE) into 527,777 common shares of Goldquest. The debt was converted on the basis of one common share of Goldquest …
Reserve boost for Chinese project
An independent study of the Qiandongshan (QDS) zinc-lead-silver project in China’s Shaanxi province has left American Exploration (ASE) confident about reserves. Proven and probable reserves are about…
New Mexican mining regulations take effect
The regulations of the Mexican Mining Law went into effect at the end of March. According to the Ministry of Energy, Mines and State Industry (SEMIP), the new regulations eliminate 60 requirements tha…