NEWS ROUNDUP — Lime keeps Global Stone in black
Despite severe weather at its operations in Ingersoll, Ont., and Luttrell, Tenn., Global Stone (TSE) managed to post earnings for the three months ended March 31. Net income for the period was $627,00…
1994
Dufresnoy raises $750,000 from Mazarin
Montreal-listed Mazarin Mining has subscribed to half of a $1.5-million private financing to be completed by Dufresnoy Industrial Minerals (ME). Marazin will obtain 1.4 million units at 55 cents each …
Meliadine joint venture under exploration
Exploration is under way at the Meliadine gold project, 9 miles north of Rankin Inlet, N.W.T. Partners Cumberland Resources (VSE) and Comstate Resources (TSE) are planning a 3-phase program of ground …
Hemlo’s gold production down, but earnings up
Despite a 5% drop in production at its two gold mines, Hemlo Gold Mines (TSE) managed to increase earnings in the first quarter, compared with the same period a year ago. Combined production from the …
Colorado-Wyoming kimberlite province a rich and largely
The Colorado-Wyoming kimberlite province in the western U.S. includes more than 100 kimberlite intrusives, one of the largest lamproite fields in the world, and dozens of unexplored geophysical, remot…
EDITORIAL PAGE — A taxing history
We don’t pretend to be economists, but we do feel confident in possessing a rudimentary grasp of the major tenets of modern-day economics. We know, for example, that the modern government penchant for…
Freewest options claims north of Kirkland Lake
Montreal-based Freewest Resources (TSE) has signed an option to acquire three claims, comprising 1,040 acres, north of Kirkland Lake, Ont. Over a 5-year period, Freewest will pay $150,000 cash and iss…
Golden Star acquires Venezuelan gold plays
Denver-based Golden Star Resources (TSE) and its Venezuelan partner, BPC, have entered an agreement to earn a 60% interest in the Increible 6 and Valle Hondo group of properties. The vendor is the Inv…
World demand for gold expands
Interest in gold, among central banks, has rarely been so high. This is because the price of gold is approaching US$400 per oz. and because of the mobilization of gold (gold loans, options, etc.) by s…
Central bank transactions in the gold market
In the past five years, central bank activities in the gold market have increased significantly. There are currently more than 80 central banks active in the gold market. Indeed, central banks are an …
Battle Mountain starts expansion plan
In the first quarter, Battle Mountain Gold (NYSE) had a consolidated net income of US$2.8 million on revenues of US$52.8 million. This compares with a net loss of US$3.2 million on revenues of US$60 m…
Noranda convicted in mine fatality
A sentencing hearing has been scheduled for May 31 to deal with the conviction of Noranda Minerals on three violations of the Occupational Health and Safety Act. The conviction stems from a 1991 fatal…