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
Mining industry
The Ok Tedi mine in Papua New Guinea's Star Mountains has had a boom year, with a profit of $250.9 million on sales of $1.02 billion. The mine, owned and operated by Ok Tedi Mining Ltd, is 60% owned by BHP. Despite environmental controversies, the mine
Mining industry
A catastrophic spill of 84.5 trillion gallons of cyanide-laced water from a Canadian-US-owned mining operation has poisoned two rivers in Guyana, sparking widespread concern among environmentalists and Indian rights activists. The disaster, which occurred on August 19 when a mine tailings dam breached, has left a trail of dead
Mining industry
International Pursuit Corporation, a leading exploration company, reported robust results for the first half of 1995, with revenues soaring to $4,377,946, compared to $417,195 in the same period the previous year. This significant increase in revenue is largely attributed to net gains on the sale of investments,
Mining industry
Homestake Mining Company has announced plans to acquire the remaining shares of its Australian subsidiary, Homestake Gold of Australia Limited (HGAL), through a formal takeover offer. The company intends to exchange its common stock for the shares, with HGAL shareholders having the option to receive cash instead. This move aims
Mining industry
Ecuadorian Minerals Corporation has announced the appointment of Yorkton Securities Inc. as its financial advisor to evaluate possible merger, acquisition, and takeover scenarios, as well as provide financial advice on corporate development and new equity financing. Yorkton's reputation in the international mining arena is exceptional, with a history
Mining industry
The Philadelphia Stock Exchange (PHLX) is set to introduce options trading on Freeport McMoran Copper & Gold Class B (FXB) on August 7, 1995, marking a significant expansion of the exchange's offerings. This new addition is facilitated by TFM Investment Group, the exchange's largest equity options
Mining industry
Acacia Resources and Placer Pacific, two prominent gold mining companies, have highlighted growth opportunities in their respective reports for the June quarter and half. Acacia's report suggests a possible resource boost for its Sunrise Dam project in Western Australia, while Placer Pacific is nearing completion of plant commissioning
Mining industry
Freeport-McMoRan Copper & Gold Inc. (FCX) reported a significant increase in net income in the second quarter of 1995, driven by higher sales volumes and improved operational efficiency. The company's PT-FI subsidiary achieved record ore throughput, reflecting the expanded milling capacity of 118,000 MTPD. Copper recovery rates
