Conductors outlined at Okak Bay property
A geophysical survey completed for Vancouver-listed partners Golden Trump Resources and Noront Resources has outlined three conductors on the Okak Bay 2381 property, 80 km north of Voisey’s Bay, Labra…
1996
Michelle zone boosts Cusac
Production from the Michelle Highgrade zone at the Table Mountain Mine property in northern British Columbia helped Cusac Gold Mines (TSE) report a fourth-quarter profit of $1 million.Cusac milled 8,4…
Altai unit eyes Philippine property
Toronto-listed Altai Resources has completed the incorporation of Altai Philippines Mining, which will act as the company’s exploration arm in that country. Altai will have a 40% equity interest.Along…
Hedging survey shows high derivatives usage
A survey prepared by Price Waterhouse shows that mining companies make significant use of derivatives to create positions in the commodities of their primary and co-products.A total of 41 North Americ…
Westmin Res. back in black for 1995
With its Myra Falls operation on Vancouver Island back on stream, Westmin Resources (TSE) reported a net profit of $11.8 million for 1995 on revenue of $110.7 million.Cash flow from operations amounte…
JAG eyes Mint tailings
An agreement with a numbered Ontario company will give JAG Mines (ME) a half interest in a project to reprocess refinery tailings from the Royal Canadian Mint in Ottawa.Mint waste discharged into Nepe…
Minorca Resources seeks to buy interest in Busang gold project
An agreement with an Indonesian company sets the stage for Minorca Resources (ME) to acquire a 70% interest in 6% of production from the Busang gold deposit in Kalimantan, Indonesia.Minorca’s agreemen…
Diamond valuation is in for Namco
Diamonds recovered from the Luderitz Bay project of Namco (VSE) have been valued by a leading international firm of diamond assessors.A total of 1,296 stones, approximately half of the total recovered…
Menora Resources buys advanced gold project in Yemen
In south-central Yemen, Menora Resources (ME) has acquired a gold exploration licence that hosts an advanced gold deposit and 35 other gold occurrences.The 340-sq.-km licence includes the Wadi Medden …
Fairfield plans more drilling for Siwash gold property
Exploration work will attempt to increase reserves in three target areas on the Siwash property near Merritt, B.C.Owner Fairfield Minerals (TSE) will spend $1.2 million on the property this year and p…
Barrick execs turn options into cash
Five senior officers of Barrick Gold (TSE) exercised options and traded shares of the corporation in December 1995 and January 1996.According to the Ontario Securities Commission’s OSC Bulletin, Louis…
Banner year reported for Phelps Dodge in ’95
With almost all operations turning in stellar performances, Phelps Dodge (NYSE) coasted through the end of the fourth quarter to post yet another record in net income.In 1995, the company raked in US$…