Golden Star vends Eagle Mtn
Golden Star Resources (GSR-X) has decided to sell its Eagle Mountain gold property to the operators of the Omai gold project, also in Guyana.Ownership of the Omai project is divided between Cambior (C…
1998
Mining fog gets attention
Delegates from 50 countries recently met in Vancouver, B.C., to discuss a new kind of mining that might revive areas with chronic water shortage problems.The notion of tapping into life-giving fog to …
Aur’s earnings deflate
Caught in the web of depressed metal prices, Aur Resources (AUR-T) saw its second-quarter earnings squeezed by an astonishing 93%.The Toronto-based company earned $488,000 on revenue of $25 million fo…
MINING MARKETS & INVESTMENT NEWS — INSIDER TRADING — Shares traded by execs at Twin Gold, American Gem
The Ontario Securities Commission’s OSC Bulletin reports that a director of Twin Gold (twg-t) bought several blocks of shares in that company in June.Hermann Derbuch bought 147,500 shares at 27-30 cen…
DIAMOND PAGE — Ashton continues work at Buffalo Hills
The final three of nine kimberlites discovered last winter on the Buffalo Hills project in north-central Alberta have proved to be barren.Only one micro (less than 0.5 mm) was recovered from the K-32 …
Mansfield options porphyry prospect Mill construction begins at Minto property in Yukon
Vancouver-based Mansifeld Minerals (MDR-V) and Aranlee Resources (ARB-V) will jointly develop the Pancho Arias porphyry prospect in northern Argentina’s Salta province.Mansfield can acquire a 60% inte…
Kabila’s government slow to advance mining in DRC
When Laurent Kabila wrested control of the former Zaire from ailing dictator Mobutu Sese Seko more than a year ago, he promised to revive the nation’s ailing mining industry, wage a war on corruption,…
Mountain Lake buys into Valentine Lake
Mountain Lake Resources (MOA-V) is earning a half-interest in the Valentine Lake project in central Newfoundland.In return, the junior has agreed to spend $750,000 on exploration over four years, of w…
Ashanti triumphs over power crunch
Despite being pinched for power, Ashanti Goldfields (ASL-N) posted record production and lower costs during the second quarter.An ongoing drought in Ghana severely limited power for the company’s mine…
Denison earnings tumble
Uranium and oil producer Denison Mines (DEN-T) saw its second-quarter earnings dramatically reduced as a result of lower oil output and prices.For the three months ended June 30, Denison earned $2.4 m…
Meetings (August 10, 1998)
Aug. 10, EdenAug. 10, LayfieldAug. 10, Newcoast SilverAug. 10, Upton CopperAug. 11, Canadian ShieldAug. 11, TuscanyAug. 11, ZorinAug. 12, EastonAug. 13, AMI Res.Aug. 13, GoldzoneAug. 13, KenrightAug. …
Vengold boosts stake in Lihir gold mine
Vengold (VEN-T) has purchased a further 6.5% stake in the Lihir gold mine in Papua New Guinea. The $133.5-million acquisition raises its interest to 19%, making it the largest of Lihir’s stakeholders….