Corona raises stake in Prime Res. by 1%
With the private purchase of 700,000 additional shares, Corona (TSE) has increased its stake in Prime Resources Group (VSE) to 44%. Prime owns a 50% interest in the Eskay Creek gold property in Britis…
News
Underground drilling confirms continuity at Duquesne project
The latest results from an underground drilling program at the old Duquesne gold mine project north of Rouyn-Noranda, Que., confirm the continuity to the west of the main mineralized zones between the…
U.S. REPORT Koval farms out Montana prospect
Vancouver-based Barkhor Resources (VSE) will have the option to earn an interest in the Uncle Sam prospect near Sheridan, Mont., following an agreement with Calgary- based Koval Resources (ASE). By sp…
Westmin boosts Premier Gold stake
A unit of Westmin Resources (TSE) recently acquired a 9.9% interest in the Premier Gold project held by a wholly owned subsidiary of Prime Resources Group (TSE). This acquisition boosts Westmin’s stak…
Rochester deals South Mercur
Several months after acquiring the South Mercur gold property from Dominion Mining and Ennex International, Rochester Minerals (VSE) has negotiated an agreement with Kennecott Corp. The deal gives Ken…
Minnova, Kerr hit by Lac Shortt writedown
A $10 million writedown on the carrying value of the Lac Shortt gold mine in northwestern Quebec resulted in a $589,000 third-quarter loss for Kerr Addison Mines (TSE) compared with earnings of $5.6 m…
Inspiration’s revenue up, earnings down
Strong copper prices and higher production from the Namew Lake operation in Manitoba failed to improve the financial fortunes of New York-based Inspiration Resources (NYSE) and wholly owned subsidiary…
Copper-gold reserves jump at Expo property deposit
An independent engineering report from Steffen, Robinson, Kirsten has increased the preliminary reserves of the Expo property’s Hushamu deposit to 456 million tons grading 0.26% copper and 0.01 oz. go…
U.S. REPORT Explorers shun recent sale of Minnesota mineral leases
Minnesota has been left out in the cold as exploration gears up in the Rhinelander-Ladysmith greenstone belt of neighboring Wisconsin. Although Minnesota put thousands of mineral leases up for sale du…
Letters to the editor Managers must be masters of their trade
In reply to Douglas Smith’s letter (T.N.M., Oct. 15/90) on mine management, I would like to note that metallurgists, maintenance engineers and others have at times made very good mine managers. Indeed…
MinVen Gold refinances
The president of MinVen Gold (TSE) recently announced details of plans to refinance amounts outstanding under its US$14.5 million bank line of credit. The company’s principal lender, Citibank, agreed …
Mexico opens door to foreign investors
Foreign investors may be allowed to control 100% of a mining concession in Mexico for up to 12 years after Dec. 10 when the country’s new mining regulations goes into effect. The regulations were issu…