Mining industry
Homestake Mining Company reported a net income of $4.9 million or 4 cents per share for the third quarter of 1995, down from $10.8 million or 8 cents per share in the same period of 1994. The decline in earnings was due to a temporary production decline at
Mining industry
Sutton Resources Ltd., a leading gold explorer, has made a significant discovery at its Bulyanhulu property in Tanzania. Recent drill results have more than doubled the gold resource estimate on Reef 1, confirming that it exceeds 2 million ounces. President and CEO Michael Kenyon believes that the eventual resource on
Mining industry
Phrygian Mining Corporation has announced a significant change to its Board of Directors, with Monte Kwinter, a member of the Ontario Legislature, taking over as Director of Phrygian. Mr. Kwinter replaces Mr. John McKimm, who has resigned from the position. With his extensive experience in international business and community service,
Mining industry
William Resources Inc., a natural resource company listed on The Toronto Stock Exchange under the symbol WIM, has made significant progress in the development of its silver/gold Velardena project in Mexico with the appointment of two experienced mining professionals to the project management team and the acquisition of a
Mining industry
Sharpe Energy & Resources Limited is pleased to announce that trench sampling on its claims in Nye County, Nevada has returned positive results. The initial trenching program was designed to test for near-surface gold-silver mineralization similar to that encountered at depth in previous drilling on its 100 percent-owned claim group.
Mining industry
Freeport-McMoRan Copper & Gold Inc. has declared cash dividends for various security types, marking a significant move in the company's dividend policy. The declared dividend amounts vary across different securities, including common stock, depositary shares, and preferred stock. This announcement comes as part of the company's
Mining industry
Seymour Schulich, chairman of Franco-Nevada and Euro-Nevada, revealed that the companies have discovered over 2.5 million ounces of gold on the Midas property in northern Nevada, a find that ends months of speculation about the extent of the discovery. The announcement was made at a breakfast meeting for mining
Mining industry
First Mississippi Corp.'s board of directors has approved the spin-off of its 81% owned subsidiary, FirstMiss Gold Inc. The move will provide FirstMiss Gold with more efficient access to capital for its exploration and development opportunities, while First Mississippi Corp. focuses on its core businesses. Shareholders will receive
Mining industry
Freewest Resources Canada Inc., in association with Detector Resources Ltd., has made a significant discovery of a new gold-bearing zone on the Camking property in Ontario. Located approximately 6 km northwest of Matachewan, the new zone was identified through back-hoe and blast trenching, and initial grab samples have returned values
Mining industry
Vancouver-based American Bullion Minerals Ltd. has announced an expansion of its Red Chris copper-gold deposit, a significant development in the company's efforts to grow its reserves. Through an accelerated drill program, the company has intersected ore-grade mineralization beyond the preliminary open-pit design, further solidifying the deposit's
Mining industry
Phrygian directors and management are pleased to announce that Croesus, a New York-based global emerging market fund, has reached an agreement with Midas to acquire control of approximately 49% of the voting shares of Phrygian, representing 2,083,452 trading shares subject to a one-year hold period and 1,897,
Mining industry
Eden Roc Mineral Corp. has announced impressive financial results for the first six months of 1995, marked by a significant improvement in net income and revenue. The company's net income for the period stood at $724,000, a substantial increase from the loss of $3,559,000 recorded
