MOST ACTIVE ISSUES (January 25, 1999)
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1999
Cross Lake reviews program
Cross Lake Minerals (CRN-V) has completed the final three holes of a 6-hole drilling campaign at its Sheraton-Timmins polymetallic property near Timmins, Ont.Though all three failed to intersect signi…
DIAMOND PAGE — SouthernEra writes off alluvial operations
Toronto-based SouthernEra Resources (SUF-T) has ceased operations at the Lou and Cassanguidi alluvial diamond concessions in Angola’s Lunde Norte province.Both projects have been rendered marginal, ow…
Breakwater restarts El Toqui
Following an 18-month shutdown for modifications, Breakwater Resources (BWR-T) has resumed milling at its El Toqui mine in southern Chile.The Toronto-based company says modifications to the processing…
Chapter closes on Crown Butte saga
The fate of the controversial New World project in Montana and its owner, Crown Butte Resources, was sealed last year by the personal intervention of American President Bill Clinton and Vice-President…
IGCP plans tour of Uzbekistan
The International Geological Correlation Project is offering a trip to the copper-gold-silver deposits of Uzbekistan from Aug. 27 to Sept. 3.Stops on the tour include the state-owned Daughyz open-pit …
Energold drilling at Longyear
Energold Mining (EGD-V) has begun a first phase of drilling at its Longyear concession in the Dominican Republic.The program is designed to test the oxide gold potential of a northwesterly trending, 3…
Claude sizes up new zone
Drilling in the footwall at the Madsen gold mine in Red Lake, Ont., has intersected a gold-bearing structure similar to the producing Austin zone.Claude Resources (CRJ-T) drilled 144 holes totalling 1…
Phelps Dodge posts loss
Continued low copper prices dragged down earnings for Phelps Dodge (PD-N) in the last quarter of 1998.The company reported a fourth-quarter loss of US$9.8 million (or 17 cents per share) before non-re…
Morgain cuts gold in Mexico
Toronto-based Morgain Minerals (MGM-V) has drilled several long gold intersections at its new San Francisco mine property, near Cucurpe in Mexico’s Sonora state.The junior has received assay results f…
Armada sells Erdmin
Armada Gold (AAU-T) has sold its 49% interest in the Erdmin solvent extraction-electrowinning copper project in Mongolia.A private American company will pay US$3 million over the next three years and …
MINING MARKETS & INVESTMENT NEWS – EASTERN MARKETS — Deadly copper price snuffs out Highland Valley mine
The biggest story during the report period ended Jan. 19 was the announcement that the low-grade, high-tonnage Highland Valley copper mine in British Columbia would close in May.The decision was made …