Queries: Reactivated Hubert Lake Ungava Mines sitting tight and

** options. ** I am a long-time subscriber to your fine mining newspaper. I am interested in dormant over-the-counter mining companies that change hands and are reactivated. My idea being that if a group takes the trouble to bring a company back they plan to do something with it.

Hubert Lake Ungava Nickel Mines is one such situation. Last summer, your paper had a story on the company regarding a trailer park in Alberta and a placer gold property in the southwest U.S., Would you please bring me up-to-date on the company? K.O., Formosa, Ont.

You’re quite right. When a dormant mining company is reactivated, the new control group usually does have plans to do something with it, but not always in the mining area. Chartered in 1957 in Quebec, Hubert Lake Ungava Nickel Mines was active in the Ungava nickel area of that province. However, s ince 1961 little was heard from the company. But that changed when control passed to President Donald Morrison of Calgary, Alta., this past summer.

The company no longer has any properties in the Ungava region. However, it does have a placer gold property in Siskawou Cty. in northern California. Mr Morrison tells us plans for the property are on hold right now.

The company did have a trailer park near Claresholm, Alta., but it was recently sold for $250,000.

Mr Morrison says the company has not earmarked these funds for any specific project as yet. “We’re sitting tight and looking at our options,” he says. A decision could be made by the end of the first quarter of 1987. Mr Morrison adds that any new project will more likely be in the industrial area, rather than the resource arena.

Hubert Lake trades over-the- counter at about 8 cents bid and 13 cents asked. There are 1.95 million shares outstanding.