Mixed trading highlighted this past week’s activity on the ME, where the market portfolio recorded a small loss but the mining and minerals index climbed more than 8 pts. Daily volumes were light, ranging from 3.3 million to 4.7 million shares.
Augmitto Explorations, which traded 6,500 shares and closed unchanged at $1.35, reports it has revised its capital budget for its Beauchastel gold property production facility, the estimated cost now standing at $22 million. As well, the company has had its planned mill redesigned to permit additional capacity and the possibility of custom milling.
Encouraging preliminary results have been released from the Bannockburn gold project near Madoc, Ont., by Mono Gold Mines and VSE-listed Micham Exploration, which report they are seeking financing to carry out further exploration at the property. Mono jumped 13 cents to 53 cents on a volume of 18,000.
Orex Exploration and partner TSE-listed Onitap Resources have boosted reserves to 1.4 million tons grading 0.2 oz gold per ton at the Goldboro property in Nova Scotia, following a drilling program. Orex slipped 1 cents to $1.03 with 74,500 shares changing hands. The exploration program under way at the property calls for the digging of a decline ramp and dewatering of an existing shaft.
Close to firming up estimated tonnage at its Mont Laurier, Que., graphite property is Stratmin Inc., whose A stock traded 199,500 shares and climbed 10 cents to $1.50. Drilling continues at the property, which the company is hoping to mine in a low-cost, open-pit operation.
Reporting increased reserves at its Launay-Privat gold property in northwestern Quebec is Messeguay Mines, which gained 2 cents to 26 cents on 108,200 shares. Further drilling is planned for the property’s promising zone 75.
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