Copper crash delays Gibraltar’s Lomas Bayas
Gibraltar Mines (GBM-T) is the first casualty to surface in the wake of the Sumitomo trading scandal.With the recent collapse in copper prices, Gibraltar is delaying the development of the Lomas Bayas…
1996
Breakwater completes Nanisivik purchase
Breakwater Resources (BWR-T) has completed the purchase of Nanisivik Mines from Alberta Energy. Nanisivik’s most significant asset is its namesake zinc mine, which produced 108 million lb. in 1995. Th…
TSE Short Positions (July 22, 1996)
Short positions outstanding at June 30, 1996Larger individual positions included: Agnico-Eagle 366,373; Arequipa 236,910, up 99,910; Anvil Range Mining 418,600, up 341,100; Aur Resources 120,000, down…
MSV workers accept contract
The workers at MSV Resources’ (MSV-T) two mines in Chibougamau, Que., have accepted the latest pay raise offer from the company.The offer includes a 25 cents-per-hour raise in the first year and raise…
Cominco drills Accha zinc-lead property in southern Peru
Cominco (CLT-T) has completed a preliminary 4-hole drill program on the joint-ventured Accha property of Southwestern Gold (SWG-T) in southern Peru.Cominco tested the extent of high-grade zinc-lead mi…
Royalstar, Attwood Gold to join forces
The merger of Royalstar Resources (RYQ-V) with Attwood Gold (ATW-V) is being negotiated.John Young, Royalstar’s current president, will preside over the new company, which will retain the name Attwood…
Southern Peru cuts ribbon on new plant
Southern Peru Copper (PCU-N) has opened a solvent extraction-electrowinning plant near the town of Toquepala in southern Peru.The plant, which was constructed at a cost of US$103 million, represents t…
Consolidated Nevada inks Mexican merger deal
Consolidated Nevada Goldfields (KNV-T) has signed a deal with Mexican miner Grupo Real del Monte that will lead to a six-fold increase in reserves for the American company.The companies are merging th…
Abacus Minerals cuts massive sulphides at Alaska’s Lookout Mountain zone
To date, Abacus Minerals (AMC-V) has drilled 23 holes at the Niblack project in southeastern Alaska, and reported preliminary results from six of them.At the Lookout Mountain zone, drilling has identi…
PEOPLE — SARABAT GOLD (July 22, 1996)
Melvin Reeves appointed director.
Elliot Lake growing independent of mining
Although the last of the ore has been hauled from the last of Elliot Lake’s mines, the task of reclaiming and revitalizing this former one-industry town has just begun.Beginning in 1955, the mining in…
The Cambior drilling at Cameron Lake
Diamond drilling has begun at the Cameron Lake gold property, a joint venture between Nuinsco Resources (NWI-T) and Cambior (CBJ-T).The project lies 80 km southeast of Kenora, Ont. Reserves are estima…