Cambior to repay bill by June
In a deal struck with its lenders and hedge providers, Cambior (CBJ-T) will repay US$75 million of its US$212-million loan obligations by June 30, 2000.This interim payment is part of a preliminary ag…
1999
Seahawk pulls emeralds from core
Infill drilling by Seahawk Minerals (SKM-V) has returned two large stones, each weighing 75 carats, from the Piteiras emerald property in Brazil.The company intercepted the walnut-sized stones in a 2….
Omolon repays debt financing
The Kubaka mine in far eastern Russia has enabled owner Omolon Gold Mining to repay US$50 million of the US$130 million in debt financing it received from the European Bank for Reconstruction & Develo…
JCI
Denver — Ashanti Goldfields (ASL-N) has submitted a restructuring plan, together with a financial and operating review, to its hedge counterparties and lending banks, extending to mid-December the fr…
CDNX bullish after first week jitters
Vancouver — After stumbling out of the starting gate last week, the new Canadian Venture Exchange (CDNX) index managed to gain some momentum, posting a gain of 46.93 points, or 2.4%, to finish the we…
Northern Orion restructures debt with Miramar’s help
Vancouver — Northern Orion Explorations (NNO-T), further in the red following a series of writedowns attributed to its Mantua gold operation in Cuba, has arranged a refinancing with parent Miramar Mi…
EVENTS (December 13, 1999)
Jan. 23-24 Cambridge House Int’l — “Vancouver Investment Conference.” Hotel Vancouver, Vancouver, B.C. Phone: (604) 227-7722.Jan. 25-28 B.C. & Yukon Chamber of Mines — “Cordilleran Geology and Explo…
Namibian Minerals secures Nam II funds
A US$25-million loan paves the way for Namibian Minerals (NMR-T) to build a second offshore diamond mining platform and recovery plant.HSBC Equator Bank and Nedbank Africa (a division of Nedcor Bank) …
Surprise bid for Dukat
Vancouver — Plans by Pan American Silver (PAA-T) to start up the Dukat mine in far eastern Russia by mid-2000 have been derailed by another bidder for the Dukat mill building.At an auction held by ag…
Asia Minerals sets sights on Copperstone
Vancouver — Asia Minerals (AMP-V) is endeavouring to acquire the remaining 75% interest in the Copperstone joint venture in western Arizona. The vendor is Arctic Precious Metals, a wholly owned subsi…
South African group to consolidate under JCI banner
South Africa’s JCI group has unveiled a massive restructuring that will consolidate its various gold assets under a single entity, named JCI Ltd., which will be listed and domiciled in Toronto by next…
Book traces Ottawa mines
The Mines of Ottawa: A guide to the mineral deposits of Southeastern Ontario and Southwestern Quebecby John E. Udd, Ph.D.Published by CJ Multi-Media Inc.89 Ridgefi…