Unlisted Trading (December 23, 1991)

Recently listed Newfoundland Goldbar Resources (CDN) got off to a good start with encouraging results from the Glover Island gold property in western Newfoundland.

Optioning the property from ASE-listed Varna, Goldbar has outlined a gold zone with a 300-ft. strike length and a true width of 65-75 ft. Highlights of recent assays included 33 ft. grading 0.13 oz. gold per ton and 5 ft. grading 0.16 oz. gold. Drilling continues.

Goldbar opened on the exchange at 53 cents but has not traded since. White Star Copper Mines, which holds claims next to the Kidd Creek zinc-copper mine, emerged as one of the most active traders during the week ended Dec. 17. Although Falconbridge Ltd. and White Star are still discussing a potential option agreement, Falconbridge Vice-President Mike Knuckey said that if a deal is reached, drilling would begin on White Star’s Kidd Creek property at the beginning of next year.

White Star gained 5 cents to close at 55 cents.

Quiet for several years, Nova Beaucage Mines (CDN) suddenly emerged as the top trader when more than one million shares changed hands and the stock leapt from half a penny to 5 cents. The company poured its first gold bar from the Elder mine project near Rouyn-Noranda, Que., in 1989, but has not been heard from since. Management could not be reached for comment.