Tandem sells control of Matt Berry
Montreal-listed junior Tandem Resources (ME) has sold most of its 25.3% controlling interest in Matt Berry (CDN) to GTL Investments, a private Toronto-based company. In another transaction, Matt Berry…
1993
LAST BUT NOT LEAST — Asset writedown on boron venture
A 48% investment in a Chilean boron company is causing plenty of headaches for Boron Chemicals International (VSE) and parent company Trans America Industries (VSE). Boron Chemicals recently negated i…
Lac posts loss in second quarter
Citing lower realized gold prices and a decrease in production, Lac Minerals (TSE) reported a loss of US$800,000 for the quarter ended June 30 compared with second-quarter earnings of US$4.4 million (…
Mixed results for DHK
Salt Lake City, Utah-based Kennecott has released results from seven kimberlite pipe targets drilled this summer on the DHK project in the Northwest Territories. The verdict: mixed. The latest results…
NEWS ROUNDUP — Cornucopia buys Drinkwater project
Having completed a due diligence review, Cornucopia Resources (TSE) has exercised its option to acquire the Mary-Drinkwater gold project near Silver Peak, Nev. The company paid US$230,000 for the prop…
Champion drilling Hachita project
A 12,000-ft. drill program is testing five separate gold skarn targets, identified by geophysics and surface sampling, on the Hachita property in the southwest corner of New Mexico. The 24-hole progra…
EDITORIAL PAGE — Give us a break
We are a high-wage, highly educated society. We cant simply rely on shipping out our natural gas and crude oil and lumps of rock. So says Robert Fairholm, managing economist at DRI/McGraw-Hill in Toro…
Placer Dome loosens reins — Independent-minded Gibraltar
Since production started in 1972, Gibraltar Mines (TSE) has adapted to adversity several times and survived. It hopes to continue that strategy partly by expanding mill capacity at its Gibraltar open-…
PRODUCER PRICES (August 09, 1993)
ALUMINUM: MW U.S. market US56-57 per lb. (July 29, 1993). ANTIMONY: MW New York dealer US76-80 per lb. (June 10, 1993). BISMUTH: MW New York dealer US$2.35-2.70 per lb. (June 11, 1992). CADMIUM: MW Ne…
Gold Vessel reports Venezuela results
Trench results have been received from the Choco-6 gold property in El Callao district in Venezuelas Guyana Shield, reports Gold Vessel Resources (ASE). Three trenches, one of which represents a deepe…
Cambior output rises by 29%
Gold production increased by 29%, to 233,321 oz., during the first half of 1993 compared with the same period last year, Cambior (TSE) reports. The increase is attributed to start-up of production in …
Amax writes down Hayden Hill
High operating costs resulting from lower-than-expected head grades at the Hayden Hill mine prompted Amax Gold (NYSE) to take a second-quarter writedown of US$69 million. Since June, 1992, when the mi…