NEWS ROUNDUP — Minerex transaction is cancelled
A deal to purchase all the issued shares of Minerex Resources was recently cancelled. Cornucopia Resources (TSE) reached an agreement to purchase the shares from owner Canada Tungsten Mining (TSE) in …
News
Placer acquires additional interest in Musselwhite
Gold producer Placer Dome (TSE) is paying $5 million cash for Homestake Canada’s 25% interest in the Musselwhite gold property, 80 miles north of Pickle Lake, Ont. Homestake will retain a 5% net proce…
Pezim case to highest court
Mining promoter Murray Pezim isn’t off the hook yet. The Supreme Court of Canada will hear an appeal in which the British Columbia Securities Commission will try to overturn a lower court ruling which…
Exploration workshop at Queen’s
A course on the exploration of convergent plate margins (CPMs) is to be held at Queen’s University on June 2-4. The course, a follow-up to last year’s workshop on giant ore deposits, is being held on …
CIM meeting on environmental education
A Chair in Mining Environment has been created at the University of British Columbia (UBC) to address the widespread problem of acid rock drainage (ARD). Dr. Richard Lawrence will discuss ARD at a Mar…
Juniors active in Honduran mineral search
The exploration activities of three North American companies in Honduras are a sign that that country’s mining potential remains solid. In 1990, Breakwater Resources (TSE) acquired the El Mochito zinc…
Giant workers await ruling
The Canada Labour Relations Board says it may take some time to rule on issues related to a prolonged dispute at the Giant gold mine, on the northern shore of Great Slave Lake. The mine is owned by Ro…
Dodgex makes specialty metal find
A major resource of specialty metals and rare earths has been discovered in a wide fluorite-bearing vein in the southern Yukon by Dodgex, a private company in Whitehorse. Representative sampling of ou…
Kennecott to close Alaskan zinc mine
Kennecott, the U.S. subsidiary of RTZ, is ceasing production at its 53% owned Greens Creek zinc-lead-silver mine, near Juneau, Alaska. The closure, which will eliminate 230 jobs, is due to low metal p…
Athabasca rejects Mongolian deal
Vancouver-based Athabaska Gold (VSE) has backed away from a letter of intent to earn an interest in the Bumbat gold field in the Republic of Mongolia. Athabaska elected not to proceed with an option t…
McBride buys stake in Xavier
John McBride, president and director of Xavier Mines (ASE), has purchased 366,700 shares, or 13.8%, of the junior company’s common shares. The shares were bought though a private placement at 30 cents…
Ego to purchase cobalt recovery company Cobatec
Shares of Ego Resources (TSE) reached a 52-week high of 83 cents recently when the company agreed to purchase a private company that has developed a low-cost process to recover cobalt from high-grade …