Eden Roc uncovers new zone at Afema
Drilling by Eden Roc Minerals (EDN-T) has intersected a new zone of mineralization at the Afema gold mining project in Ivory Coast.Starting at a vertical depth of 430 metres, hole 63 intersected 9.6 m…
1997
Chilly temperatures refuse to let up at Refugio mine
Severe winter weather in Chile continued to hamper the performance of the Refugio gold mine into the third quarter.Ownership of the open-pit, heap-leach mine is split equally between Amax Gold (au-n) …
Phoenix picks up Borealis
Golden Phoenix Minerals (GPXM-O) has acquired the Borealis mine project in eastern Nevada.The company paid 225,000 shares to the owner, J.D. Welsh & Associates, in lieu of the previously agreed upon f…
Inmet Mining sells Troilus gold mine — Homestake, Prime pick up property for US$110 million
In what appears to be another move to dispose of poorly performing assets, Inmet Mining (IMN-T) has sold its Troilus gold mine in north-central Quebec.The buyers are the Homestake Canada unit of Homes…
High grades extend Tabakoto
Nevsun Resources (NSU-T) intersected several high-grade, steeply dipping pods of gold mineralization while drill-testing the downdip extension of the Tabakoto project in Mali, West Africa.The 50-hole,…
INSIDER TRADING — Sinclairs sell more Sutton shares
Insider trading reports issued by the Ontario Securities Commission (OSC) show that James and Barbara Sinclair, each of whom held more than 10% of the outstanding shares of Sutton Resources (STT-V), w…
Drilling confirms Tres Cruces gold
Ongoing diamond drilling by Oroperu Resources (OROP-C) and joint-venture partner Pan American Silver (PAA-T) continues to confirm the presence of gold mineralization at the Tres Cruces project in nort…
Westmin to buy into Chilean copper project
Westmin Resources (WMI-T) is acquiring the right to earn a 51% interest in the Vizcachitas copper porphyry project in central Chile.The vendor, Denver-based General Minerals (gnm-t), will receive US$1…
Echo Bay takes writedown
Echo Bay Mines (ECO-T) took a writedown of US$309.8 million for the third quarter, resulting in a net loss of US$327.5 million (or $2.36 per share).Not including the restructuring charge, the loss amo…
Ashanti hits more gold in Ghana
Ashanti Goldfields (ASL-N) has hit high-grade gold intersections at its Obuasi open-pit mine in the Ashanti region of south-central Ghana.Diamond drilling from underground encountered a 21-metre inter…
A few desperate men and a salt shaker — An excerpt from The Northern Miner’s Bre-X: Gold Today, Gone Tomorrow
In March 1993, David Walsh picked up the phone, tracked down John Felderhof and said he wanted to come to Indonesia to look at mineral properties for his latest junior company, Bre-X Minerals.Walsh la…
COMMENTARY — Planning for our future
This is a time when Canadians should be considering and encouraging the startup of new mines across Canada, and time is of the essence.For too long, governments and communities have complacently accep…