Manitoba tax changes to boost new investment
The government of Manitoba is offering tax concessions designed to encourage investment in mining.The changes, according to Mines Minister Darren Praznik, will result in more than $170 million for min…
1996
Gem sale nets big profit for Rex Diamonds
A diamond recently uncovered at Rex Diamond Mining’s (CDN) Bellsbank mine in South Africa has sold for US$526,000.The 60-carat stone, cleaved from a 92.5-carat diamond, netted US$8,760 per carat. The …
Reading our stock trading tables (April 29, 1996)
A comprehensive listing of weekly stock quotations for mining securities is provided by The Northern Miner. To assist readers who often know the name of the stock but not the exchange on which it trad…
Vangold acquires interest in Tajikistan
An agreement with a private company gives Pacific Vangold Mines (VSE) a 49% interest in the Ikar gold deposit, situated in Tajikistan’s Rushav district.Vangold must pay US$20,000 and 100,000 shares fo…
Drill program tests skarn zones at Minoro property in Honduras
Drilling on the Minoro property in Honduras is returning copper-gold values for partners Tombstone Explorations (TSE), Champion Resources (VSE) and Mar-West Resources (VSE).Champion is earning half of…
Santa Fe suffers a first-quarter loss
New York-listed Santa Fe Pacific Gold recorded lower first-quarter earnings than in the same period in 1995 as a result of a 20% drop in production at its Twin Creeks gold mine in northern Nevada.For …
STOCK MARKETS — Metals lose ground as TSE rises
The gold and base metal issues lost ground over the report period ended April 23, as the Toronto Stock Exchange creaked to a new high. The TSE 300 composite index slipped on April 17 but rose steadily…
Lithos finds gold on Guinean property
On its recently optioned property in Guinea, Lithos (ME) has identified an alluvial gold deposit with a resource exceeding 200,000 oz. grading 0.12 oz.gold per ton.Lithos must pay the Guinean vendor U…
BYG forming new Yukon company
A newly formed subsidiary of BYG Natural Resources (TSE) will take over that company’s exploration properties, so that BYG itself can concentrate on advancing its Mt. Nansen gold-silver property in th…
Financing (April 29, 1996)
Triton Mining — 3,500,000 Common Shs issuable upon exercise of Special Wts previously isssued @ $5.10 per Special Wt.
GOLD FUNDS (April 29, 1996)
Gold Funds as of April 18, 1996BGRCentralNet Value$24.47$6.66Price$18.80$6.850Discount23.17%2.9%Value$191,308,000$123,980,205…
Cameco earnings nearly double in first quarter
Increased uranium sales helped Cameco (TSE) nearly double its first-quarter earnings to $22 million (or 42 cents per share) this year from $12 million (23 cents per share) in 1995.But Cameco cautioned…