Montreal Exchange (September 23, 1991)

The mining and minerals index declined by more than 13 points and the market portfolio moved ahead by about a half-point during the week ended Sept. 17. Daily trading volumes were generally in the 4-million-share range, with one day’s activity reaching almost eight million shares.

A couple of juniors traded relatively heavily (more than two million shares each) during the report period, with their closing prices moving in opposite directions. Radisson Mining Resources, trying to boost reserves at its Duquesne gold project near Rouyn-Noranda, Que., climbed three cents to eight cents. Meanwhile, indications are a group or individual disposing of holdings was responsible for most of the activity of Yorbeau Resources, which slipped by three cents to 10 cents.

From British Columbia, Cheni Gold Mines reported being near completion of work aimed at gaining access and developing the higher-grade deposits on the A1 claims north of the company’s Lawyers gold mine. Trading 2,200 shares, Cheni was off by 11 cents to 85 cents.

LAC Minerals, which was down by 63 cents to $8.25 on a volume of 101,400, announced a $15-million expansion of its East Malartic mill west of Malartic, Que. The plan is to increase the daily rate of production to 2,000 tons from 1,500 tons.

An option to earn an interest in two mineral properties in Ghana, West Africa, has been acquired by KWG Resources, the new corporate name for Kewagama Gold Mines (Quebec). Trading 91,200 shares, KWG (see Kewagama in the listings) slipped by 22 cents to 75 cents.

Encouraged by the results from five holes drilled during the summer at its Duquesne West gold property in Duparquet Twp., Que., is Globex Mining Enterprises, which fell by two cents to 47 cents on 15,300 shares. The property is under option to Hemlo Gold Mines, which was off by 13 cents to $9.25 on 11,400 shares.