CDNX endures ho-hum week

Vancouver — The CDNX closed the week ended March 19 little changed from the previous report period. The Standard & Poor’s-CDNX composite index finished at 1158.30, or 0.75 of a point higher than a week earlier.

Spider Resources ended the period flat at 10 with just over 5 million shares traded. The junior announced the recovery of eight macrodiamonds from a second mini-bulk sample collected from its Wawa property in northern Ontario.

AntOro Resources tacked on 13 to its value and closed the week at 36 with 2.4 million shares traded. The Montreal-based junior has completed a private placement of 1.1 million flow-through shares and 280,000 common treasury shares at a 5 each with two non-related investors. The $70,000 in proceeds are earmarked for exploration on its Montalembert and Wapiscan/Riviere-des-peupliers properties in early May 2002.

Montreal-based Metco Resources lost 3 and closed at 6 with 1.8 million shares crossing the floor. The company is searching for base metals and platinum group metals in Quebec’s Lebel-sur-Quevillon mining camp. The company recently identified two strong geophysical pulse-electromagnetic “off-hole” anomalies at depth. Two new holes will be drilled to test these anomalies.

International Wayside Gold Mines tacked on 4 and closed at 13 on 1.7 million shares. The junior kicked off its 2002 work program at the Cariboo gold project near Wells, B.C. The company will continue drilling the BC Vein/Bonanza Ledge to the northwest, as well as start an underground drill program on the Cariboo Gold Quartz project below the 1200 Level. Wayside will also drill along the Wells trend to find a possible extension of the Bonanza Ledge trend.

Wolfden Resources rocketed 34 and closed at 80 on a volume of 1.6 million shares. Junior miner Bema Gold recently raised $1.5 million to resume drilling at Wolfden’s high-grade Monument Bay property in northeastern Manitoba. Bema stands to earn up to a 70% interest in Monument Bay from Wolfden for about $6 million.

Samex Mining added 6 to its value and closed at 28 with 1.4 million shares traded. The company holds the Eskapa gold property in Bolivia and is currently drafting a comprehensive exploration summary report This report will make recommendations for the next stage of exploration.

Augusta Resources found a penny and closed at 21 on 1.2 million shares. The company recently signed a letter of intent with Allyn Resources and 4763 NWT to earn a 100% interest in 307,309 acres of land in the Coronation diamond district in Nunavut. Augusta is required to issue 1.6 million shares and spend $2 per acre of land in the first year to earn 30% and issue 850,000 shares by the end of the first and second anniversaries of the agreement date to earn the remaining 70%.

Kensington Resources lost 20 and finished the week at $1.01 with 1.2 million shares crossing the floor. Diamond recovery results for the 10 large-diameter (24-inch) boreholes drilled in the fall at the Fort la Corne diamond project in Saskatchewan are expected during the first quarter.

New Blue Ribbon Resources remained steady at 8 with 1.1 million shares crossing the floor. The junior’s joint-venture partners plan to drill the Hippogrif magnetic anomaly on the Birch Mountains diamond project in Alberta.