SPOT PRICES (March 16, 1998)
Wednesday, March 11, 1998Price (US)Week’s ChangeGold*$295.25- $0.75Silver*$ 6.31…
1998
Canarc takes shine to Mexican prospect
Junior Canarc Resource (CCM-T) has acquired a polymetallic prospect on 19,600 ha of ground in the bourgeoning El Salvador area play in central Mexico.The property, known as Lobo 3, lies 20 km northeas…
IG expands in Myanmar
Indochina Goldfields (ING-T) has boosted minable reserves and production estimates at its Monywa copper project in the north-central plains of Myanmar.The project, which is jointly owned by IG and the…
Gold, zinc zones extended at Lew
Partners Thunderwood Resources (THS-T) and Consolidated Abitibi Resources (CAQ-M) have discovered more high-grade gold and zinc mineralization in drill core from their Lew property in northwestern Man…
Rupert arranges financing
Rupert Resources (RUP-V) has arranged a $4.65-million brokered special warrant financing.The financing, led by C.M. Oliver, will consist of up to 1.5 million special warrants at $3.10 each. Each speci…
Semafo on target at Ghanaian property
Montreal-based West African Mining Exploration (SMF-T) reports that an ongoing prefeasibility study has confirmed the presence of oxide and sulphide gold mineralization at the Teleku-Bokazo property i…
Bolivar to buy Revemin mill
Bolivar Goldfields (BVG-T) is dropping its lawsuit against Monarch Resources (MRE-T) and buying Monarch’s majority interest in the Revemin processing plant, situated 16 km from Bolivar’s Tomi gold con…
Breakwater boasts robust earnings in latest quarter
An increase in revenue at the Nanisivik mine and higher throughput at the Mochito mine in Honduras are two factors which contributed to hefty profits for Breakwater Resources (BWR-T) in 1997.The base …
Study has Tenke-Fungurume poised for production
Preliminary results from Tenke Mining’s (TNK-T) final feasibility study of the Tenke-Fungurume project in the Democratic Republic of Congo indicate that it will be among the world’s lowest-cost produc…
Millstream hits cobalt zone at Potter
Junior Millstream Mines (MLSM-C) has intersected a zone of cobalt mineralization in a larger envelop of copper-zinc mineralization at its Potter property in Munro Twp., 80 km east of Timmins, Ont.Resu…
Norcen sale has Noranda poised for growth — Proceeds available for mining, capital investment
Base metal producer Noranda (NOR-T) saw its earnings improve in the fourth quarter, and in 1997 as a whole.The Toronto-based major made $64 million (or 24cents per share) for the fourth quarter and $2…
EXPLORATION 1998 — Sierra Nevada tests Mexican property
Sierra Nevada Gold (SDD-V) plans to begin drilling on the Republica high-grade silver property in Mexico’s Chihuahua state.The company will target a block of vein material in the Main zone that is tho…