Mining industry
Hecla Mining Company, in a move to restructure its troubled Grouse Creek mine, has announced a $97 million nonrecurring asset writedown in its third quarter results. The mine, a joint venture between Hecla and Great Lakes Minerals Inc., has encountered significant shortfalls in ore tonnage and gold grade, leading to
Mining industry
Canyon Resources Corporation, a Colorado-based mining company, reported a significant decline in earnings in the third quarter of 1995. The company announced a loss of $1,250,500, or 5 cents per share, for the quarter ended September 30, 1995, compared to earnings of $632,200, or 2 cents per
Mining industry
Freeport-McMoRan Copper & Gold Inc. has announced a change to its New York Stock Exchange ticker symbol for its Class B Common Stock, which will become "FCX" on Monday, November 13, 1995. This change is intended to facilitate coverage of the company's activities by the investment
Mining industry
Atlas Corporation has made significant moves in advancing its Gold Bar Project in Nevada, signing a letter of intent with Brown & Root for contract mining services and guaranteeing a portion of project financing. This development marks a crucial step in the project's progress, enabling Atlas to focus
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
