Vancouver — Canada’s junior exchange failed to follow the major bourses higher, with volume remaining on the light side. The Standard & Poor’s-CDNX composite index lost 6.94 points, or 0.6%, and closed the week ended April 16 at 1,155.17.
ECU Silver Mining ended the week flat at 6 with more than 3.7 million shares traded. The company holds the Velardena property in Mexico. At last count, the property held total resources of 2.5 million tonnes grading 2.8 grams gold and 269 grams silver per tonne.
MacDonald Mines continued to attract attention, adding 2 and closing at 6 on a volume of 3.6 million shares. The company has an oil & gas division and has been seeking platinum-palladium ground in Ontario.
Transpacific Resources resumed trading during the report period and closed flat at 1, trading in excess of 3.4 million shares. Transpacific will continue its quest for diamonds on its 16 sq. km property at Kirkland Lake in northern Ontario.
Gallery Resources tacked on a penny and closed at 11 on almost 2.7 million shares. A gravity geophysical survey is under way on the junior’s Black Bart’s Katie massive sulphide project in central Newfoundland.
Gold Summit Mines traded heavily on news that the junior would seek a $450,000 financing to move forward on its diamond property in the emerging Otish Mountains region of Quebec. Shares in the company jumped 5 to 20 on a volume of more than 1.7 million.
Majescor Resources lost 26 and closed at 75 on 1.4 million shares. The company holds a large land position in the Otish Mountains.
Starfield Resources ended the week at 93, up 9 on 1.3 million shares. The junior has a rig turning on its Ferguson Lake copper-nickel-platinum-palladium project in Nunavut.
Montello Resources closed the week steady at 18 with 927,000 shares traded. The company is exploring oil and gas properties in eastern Tennessee and searching for diamonds in the Otish Mountains. Other assets includ a platinum group metals property in Sudbury, Ont.
American Bonanza Gold Mining closed at 12, up a penny on 899,000 shares. The company is exploring and developing gold properties in Arizona and Nevada.
JNR Resources closed at 8, up 1 on 884,000 shares. At the Moore Lake uranium project, a joint venture with Kennecott Canada Exploration, a geophysical program is following up on geochemical results intersected recently.
Donner Minerals closed up a nickel to 41 on 865,000 shares. The junior holds a 75% interest in SVB Nickel, which holds the South Voisey’s Bay project, 90 km south of the Inco’s deposits. The project comprises 3,700 contiguous claims equivalent to about 1,000 sq. km.
Samex Mining lost 2 and closed at 28 on 797,000 shares. The junior holds a 60% interest in the Eskapa gold property in Boliva.
Francisco Gold continued to move higher, ahead of the annual meeting set for late May. Shares jumped 99 to close at $15.25 on a volume of 791,000. Toronto-listed Glamis Gold inked a deal to acquire all the issued and outstanding shares of Francisco. Glamis is offering to exchange 1.55 shares and 1 share in a new exploration company for each Francisco share.
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