Mining industry
Toronto-based International Platinum Corp. (IPC) has received an interim report from Behre Dolbear & Company, Inc. on the Arizona Black Rock Project (BRX), which suggests the presence of economically attractive grades of gold. Two independent laboratories commissioned by Behre Dolbear have confirmed the results, showing a high degree of correlation
Mining industry
Kyrgyzstan has secured $360 million in international credit and equity funds to enhance its gold production capabilities, with the aim of reaching 500,000 ounces per year by 1997. The funds, which are comprised of debt financing and shareholder loans, will be utilized to develop the Kumtor gold mine, one
Mining industry
Cyprus Amax Minerals Co. has made significant progress in the development of its Kubaka gold mining project in Far Eastern Russia. Partners in the joint venture have signed loan agreements totaling $100 million to finance the project, marking the first financing commitments by the U.S. Overseas Private Investment Corp.
Mining industry
Gold Capital Corp. (OTC BULLETIN BOARD: GOCP) has announced that Royalstar Resources Ltd. (Vancouver: RYQ) has completed the purchase of an additional 2.2 million shares of common stock, resulting in Royalstar owning 51% of Gold Capital. This investment of $2.5 million is the first step in financing the
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,
Mining industry
International Paper, a leading global paper company, is engaged in a takeover battle for Holvis Holzstoff A.G., a Swiss fibers and paper concern. In a bid to outdo a competing offer from the BBA Group P.L.C., a British industrial and engineering group, International Paper has expressed its
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
