Placer breaks pact with Gowest
Vancouver-based Placer Dome (PDG-T) has backed out of a deal with Gowest Amalgamated Resources (GWA-A) to acquire a stake in the McAlpine Lake gold property in northeastern Ontario.The property lies o…
Placer Dome Inc
STOCK MARKETS — Great Bre-X belly-flop sinks entire gold market
Widespread carnage among TSE golds; base metals also take a bashing The report period ended April 1 was no joke at the Toronto Stock Exchange, where the Bre-X Minerals bomb of the previous week turned…
Placer Dome to gain stake in Alaskan property
Teryl Resources (TRC-V) and the U.S. subsidiary of Placer Dome (PDG-T) have struck a deal whereby the latter can earn a 60% interest in the Westridge property in Alaska.Placer Dome U.S. can earn its i…
Westmin acquires Gibraltar Mines
In a takeover move, Westmin Resources (WMI-T) has acquired Gibraltar Mines (GBM-T) by buying some 30.6 million (92.4%) of its outstanding common shares.The deal is worth an estimated $307 million.West…
Gold output slips at Albino mine in Venezuela
Delays in mill modifications are taking their toll on 1996 production levels at the Albino gold mine in Venezuela.Vancouver-based Crystallex International (KRY-T) reports that the open-pit mine is exp…
MEXICO AND CENTRAL AMERICA — Lyon Lake looks to Costa Rica’s mineral potential
With the haulage road to its Beta Vargas mine nearly finished, Lyon Lake Mines (LLL-M) is now looking past that project to some promising exploration ventures in Costa Rica.Construction of the Beta Va…
STOCK MARKETS — Base metals catch on in solid market
The TSE metals and minerals sub-index at last caught up with its cousins on the Toronto Stock Exchange over the report period Oct. 16-22. With the TSE 300 composite index sliding into record territory…
MEXICO AND CENTRAL AMERICA — Santa Catalina explores Pilar project
A second-phase drill program is planned by Santa Catalina Mining ((SLM-V) for its Pilar gold project, 145 km southeast of Hermosillo in Mexico’s Sonora state.Through a 3-year purchase option, the juni…
MEXICO AND CENTRAL AMERICA — Sierra Nevada Gold assigns grade, tonnage to Promontorio deposit
With the first phase of drilling complete, Sierra Nevada Gold (SDD-V) has outlined what appears to be a substantial resource at its Promontorio copper-gold-silver property in northern Mexico.The Main …
STOCK MARKETS — Markets ride wave as metals sink
The Toronto Stock Exchange’s TSE 300 index hit two record high closings in the four trading days between Oct. 9 and 15. The TSE composite closed at a record 5,461.20 on Oct. 11 and came back with a 5,…
Orezone acquires ground in N.W. Que.
Junior Orezone Resources (ORZ-M) has re-acquired the Bourlamaque property on the eastern boundary of Placer Dome’s Sigma gold mine in Val d’Or, Que.The company sold the property last year, only to rep…
STOCK MARKET — Eastern markets still riding high
The Toronto Stock Exchange composite 300 index continued to ride high in the period Oct. 2-8, hitting new records on four of the five trading days.The index closed out the week at 5436.54, up almost 1…