Golden Phoenix nixes Borealis deal
Citing issues that arose during its due diligence, Golden Phoenix Minerals (GPXM-O) has rescinded the letter agreem…
2002
Newmont wraps up Franco acquisition
Newmont Mining (NEM-T) announced on Sunday that it has wrapped up one prong of its proposed three-way merger deal b…
Wildcat buys Bissett mine
Winnipeg-based Wildcat Exploration (WEL-V) has picked up the closed Bissett gold mine, in Bissett, Man., from South African mining house Harmony Gold Mines (HGMCY-Q).Wildcat will pay $5 million up-fro…
Exchange Rates (February 18, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateFeb. 12Feb. 11Feb. 8Feb. 7Feb. 6US$ in C$1.59181.58981.5974…
Stillwater boosts profits
Montana-based platinum producer Stillwater Mining (SWC-N) earned US$65.8 million in 2001 despite incuring an US$11-million restructuring charge in the fourth quarter.The US$1.68-per-share profit compa…
Imperial seeks reorganization
Vancouver — Cash-strapped Imperial Metals (IPM-T) has presented a plan of arrangement to its creditors and shareholders that would clear off $10.7 million in liabilities.Under the plan, Imperial inte…
Tiberon tables Nui Phao metallurgical study
Vancouver — Tiberon Minerals (TBR-V) has released positive results from its metallurgical study of the Nui Phao tungsten deposit in northern Vietnam.The study indicates that about 80% of the containe…
Seabridge continues shopping spree (February 18, 2002)
With the ink just drying on a deal to pick up North American Metals’ (NAM-V) Red Mountain project in northwestern British Columbia, Seabridge Resources (SEA-V) has agreed to acquire Golden Phoenix Min…
Croesus eyes more ground
Vancouver — International Croesus Ventures (ICU-V) has inked a letter-of-intent with Golden Temple Mining (GTM-V) to buy seven massive sulphide properties in Mexico.The deal covers all of Golden Temp…
Gold, nickel prices take a tumble
Erasing gains from the previous week, gold slipped a nickel over the Feb. 6-12 report period to land at a London morning fix of US$297.40 per oz. on Feb. 13.Going along for the ride were: Barrick Gold…
Trio develops Sustut copper deposit
Vancouver — Northgate Exploration (NGX-T), Doublestar Resources (DSR-V) and privately owned Procon Mining & Tunneling will jointly develop the Sustut copper deposit, 65 km north of the Kemess mine in…
Mines ministers head to Toronto
The World Mines Ministries Forum will attract hundreds of government representatives and mineral sector stakeholders from around the world.Slated for March 13-15 in Toronto, the event is timed to foll…