Vietnam to enact mining laws by year-end
Land tenure is uncertain and exploration investment is unprotected under Vietnamese laws, say the Canadian delegates after a 2-week tour of Vietnam recently. They expressed their concerns during meeti…
News
Granges reports record output
Consolidated production reached record levels for Granges (TSE) for the year ended Dec. 31, 1992. The company reported a 6% rise in gold production over 1991 levels to 110,896 oz., and a 66% increase …
Analysts forecast only slight metal price increases in 1993
As base and precious metal prices either declined or remained relatively flat across the board, 1992 was a rather dismal year for Canadian metal producers. Most industry analysts are forecasting only …
Princeton faces drilling delays at Rio Lluta
A drilling program on the Rio Lluta property near Arica in northern Chile is scheduled to start shortly. Princeton Mining (TSE) had planned to begin drilling last November but the drilling equipment c…
Significant gold intercept at Verneuil Twp.
A recently completed drill hole on the Verneuil Twp. gold property of Freewest Resources’ (TSE) in northern Quebec appears to have intersected significant gold mineralization. Hole VP92-10, drilled to…
Trading on TSE jumps 25.5% in 1992
The number of shares traded on The Toronto Stock Exchange (TSE) jumped by 25.5% to 7.3 billion in 1992, according to a recent report from the exchange. Compared with 1991, the total value traded was u…
Copper looms large in Rio Algom’s future
Cut loose during a period of depressed metal prices and a stale global economy, producer Rio Algom (TSE) is out to prove it can make it on its own. A major copper project in Chile should give the Toro…
Lumina assembling land package
Mine financier Robert Hunter is getting into the diamond exploration business. As president of Lumina Investment (VSE), Hunter is overseeing the assemblage of a “significant” property portfolio in bot…
Ramrod plans second Campo drill
With six holes now complete on the Campo Seco gold property in Calaveras Cty., Calif., Consolidated Ramrod Gold (TSE) plans to bring a second drill on to the property. Last October, the company report…
Sagging gem sales hurt Canadian play
Fresh evidence of a deteriorating diamond market threw some cold water on Canada’s diamond exploration play in the first half of January. South Africa’s De Beers, which controls the diamond cartel, sa…
Mining companies budget for exploration spending
The lower prices received for mineral commodities have affected corporate balance sheets but the search by producers for new reserves continues, as the chart below indicates. The 1992 figures were sup…
Glen Auden enters diamond hunt
Subject to regulatory approval, Glen Auden Resources (CDN) has acquired a 100% interest in two claim groups north of Kirkland lake, Ont. The claim blocks cover clusters of circular magnetic anomalies,…