Montreal Exchange Uneasy investors react

Election jitters seem to have gotten to investors this week, with the market well off and the value of the Canadian dollar dropping. Published voter- preference polls showed the Liberals with a commanding lead over the PCs, the opposite scenario of only a few weeks before. The ME’s general market portfolio index fell almost 65 pts (3.9%), while the mining and minerals index gave up more than 42 pts (2.6%). Daily trading volumes, ranging between 4.9 million and 7.4 million shares, continue to show more strength.

Reporting an encouraging drill hole result from its joint-venture Harker- Holloway property in northern Ontario with Noranda Exploration was Freewest Resources, which traded 248,700 shares, jumping 20 to 80 . The hole intersected 57.4 ft of 0.17 oz gold per ton, and included several high grade sections. Noranda Inc. slipped $1.13 to $22 on the week, with 202,400 shares changing hands.

Among the trading leaders again this week was Tyler Resources, which is earning a 50% interest in the Weedy Lake property in northern Saskatchewan. Tyler moved up 1 to 48 with 328,200 shares changing hands. Tyler’s partners in the venture are Golden Rule Resources and government-owned Cameco.

Hoping to boost reserves with a new exploration program at the Monique property east of Val d’Or, Que., is Monique Exploration, which closed unchanged at 30 on 25,000 shares.

Stratmin Inc. continues its quest to become a recognized graphite producer; the Quebec-based company now says it is arranging a sales agreement for its graphite concentrates with a Japanese firm. Stratmin, which gained 5 to $1.20 on a volume of 161,500, is also finalizing a deal with Asbury Graphite Mills of New Jersey. Still on the subject of graphite, Mazarin Inc., which traded 395,000 shares and climbed 4 to 17 , plans to spend more than $1 million this winter to explore for graphite and other industrial minerals in the Fermont area of Quebec.

Trading 21,000 shares and gaining 3 to 73 was Orleans Resources, which has reported encouraging initial results from a drilling campaign at the Tangier property (East block) in Nova Scotia. Orleans is earning a 50% interest in the property.