Barrick ups 1st-quarter earnings and production
Thus far into 1994, American Barrick’s (TSE) earnings statement shows every sign of outshining that of last year. For the first quarter, revenues were US$187.3 million compared with US$144.1 million i…
1994
Habsburg modifies placement
Junior Habsburg Resources (TSE) reports that its previously announced private placement with Canaccord Capital has not been completed. Instead, Habsburg will sell, on a private placement basis, up to …
NEWS ROUNDUP — New Island in deal with Goldbar
Alberta-listed New Island Minerals (NIM) intends to acquire mining assets from CDN-listed Newfoundland Goldbar Resources (NGR). Included are 51% of the shares of Tiara Marble. NIM will retain ownershi…
Lac to triple reserves in next five years
For gold and base metal producer Lac Minerals (TSE), 1993 was a year with mixed results. Attempts to reduce cost and increase productivity were offset by after-tax provisions associated with mine clos…
T & H buys stake in cement plant
Toronto-based T & H Resources (TSE) intends to acquire at least a 49% interest in the Shuangyang cement plant in northeastern China. It will buy the interest from Imperial Investment, subject to a due…
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…
Canyon free to put Briggs in production
Having consulted with Congress on the proposed California Desert Wilderness Bill, Canyon Resources (NASDAQ) can now proceed with development of its Briggs gold project. It has been determined that the…
Getty expands copper holdings
Getty Copper (VSE) is expanding its property holdings in Highland Valley near Kamloops, B.C. Under an agreement with Robak Industries, the company will earn a half interest in four concessions: Getty …
Despite strike, Porgera producing
Gold production is continuing at the Porgera mine in Papua New Guinea (PNG), despite a strike by members of the Porgera Mining and Allied Workers Union. The dispute, over wage and other employment ben…
U.S. gold reserve an open secret
The U.S. gold reserve is one of Washington’s “open secrets.” The Treasury’s open attitude about the status of the reserve can be attributed to three factors: * The U.S. gold reserve is owned and manag…
EDITORIAL PAGE — Babbitt vs. Barrick
In each of the years between 1980 and 1992, the U.S. Department of the Interior had issued, after proper review, between 28 and 94 mineral patents. Strangely, early in March of last year, the flow of …