Mining industry
Cumberland Resources, in a joint venture with Comaplex Minerals Corp., has begun a $1.2 million exploration program on the eastern portion of the Meliadine Gold Property in the Canadian wilderness. The project, which spans 16 miles north of Rankin Inlet, NWT, has shown significant potential, with recent drilling indicating
Mining industry
Vengold Inc. has successfully completed the acquisition of a 10% interest in the Lihir Gold Project from a subsidiary of RTZ Corporation Plc. The acquisition was made in exchange for $50,000,000, raised through a public offering of 28,863,000 units at $1.75 per unit. The Lihir
Mining industry
Teddy Bear Valley Mines, Limited has entered into a $2 million private placement and a $3.39 million credit facility to fund its gold mining operations. The company will use the funds to fulfill its contributions to the Holloway Joint Venture's mine construction program and repay its existing
Mining industry
Pegasus Gold Inc., a leading international gold mining company, has faced a barrage of environmental lawsuits from government agencies and Native American tribes over alleged Clean Water Act violations at its Zortman Mining Inc. property in Montana. In June 1995, the Department of Justice, the U.S. Environmental Protection Agency,
Gold mining
Golden Star Resources Ltd. has announced its earnings for the first quarter of 1995, with notable expenditures on exploration and development activities in South America and Africa. The company's consolidated cash and short-term investments stood at US$35.1 million as of March 31, 1995, a decrease from
Gold mining
Future Avenir Corp. has made a significant acquisition through a transaction with Consolidated Madison Holdings Ltd., acquiring and optioning a 5,000 hectare gold property in North Central Mato Grosso State, Brazil. The property has been the focus of informal individual miners, known as garimpeiros, who have produced an estimated
Mining industry
Aur Resources Inc. plans to resume diamond drilling on the Jonpol/Amos property, a joint venture with Jonpol Explorations Limited, to continue exploration of the geochemically enriched gold zone discovered in 1994. The drilling program aims to expand the mineralized zone, which is associated with semi-massive to massive pyrite-pyrrhotite bands
Mining industry
Bradner Resources and Gold Canyon Resources have teamed up to launch a comprehensive exploration program on the Santa Fe Lovie Property, strategically situated within the Bru Lovie/Mud Springs project area. The lease covers approximately four square miles, and the companies aim to kick-start their exploration efforts in June with
Mining industry
Royal Oak Mines Inc. and Geddes Resources Limited have withdrawn their proposals to purchase El Condor Resources Ltd. and St. Philips Resources Inc. due to a disagreement with the government of British Columbia over compensation for the appropriation of the Windy Craggy copper-gold property. The property, a Class A provincial
Mining industry
Delgratia Mining Corporation has announced its entry into the Nasdaq SmallCap Market, marking a significant milestone for the company's growth and expansion in the mining industry. With over 7.5 million acres of prospective ground in Nicaragua, the company is actively exploring for gold and base metals. The
Mining industry
Golden Regent Resources Ltd., a leading exploration company, has announced a joint venture partnership with a private Calgary company to explore their Slovakian properties. This partnership marks a significant milestone in Golden Regent's efforts to extract gold from their Slovakian assets, which have shown promising results in the
Mining industry
Pegasus Gold Inc., a leading international gold mining company, has successfully completed the issuance of its $100 million Convertible Subordinated Notes due April 30, 2002. This offering allows the company to access a significant amount of capital, which it plans to utilize for a potential takeover bid to acquire the
