Alberta Stock Exchange: Golds trade lower

Wednesday close, Oct 15 Lower gold prices were behind the sideways trading activity on the Alb erta Stock Exchange this week. Volumes were an uninspiring 4.4 million shares.

Several mining issues made strong moves on non-mining news this week. Volume leader Epping Resources, which was active in the oil and minerals sectors in the late 1970s as New Dominion Resources, added more than 90 cents to close above $3.75. The company is purchasing a private company active in the automotive market.

SIS Explorations is another one due for a name change. The company plans to explore possibilities in the fast food field, having been taken over by a new management group with restaurant experience. The issue was stronger at 55 cents today.

Getting back to issues with a little more of a metallic lustre, word is out that activity in the Moss Lake area in northwestern Ontario, is expected to heat up shortly. Murray Pezim is said to have acquired a large chunk of ground in the area. Storimin Exploration, which controls a 50% stake in a promising gold project near Moss Lake, remained unchanged at 80 cents . Tandem Resources is a joint venture partner on the Storimin project.

Ontex Resources, which is trying to get back a 100% stake in the Metalore Resource’s gold project near Beardmore, Ont., via the courts, was marginally better at $3. Cobalt player Savanna Resources remained unchanged at 50 cents . The company controls the Turner Albright deposit in Oregon, which hosts gold-zinc-copper-cobalt mineralization.

A new listing for the week includes Pan East Resources, which controls several gold properties in the Maritimes. At presstime, no trades in the issue had been executed.

Two companies active in Saskatchewan’s gold rush were also improved this week. Claude Resources, probably representing the best gold play in that province, was firm at $3.30 after completing a share offering for $1.89 million. Colray Resources, which is much more grassroots in nature, added 15 cents to 65 cents .