Montreal Exchange Aur, Louvem talking

The market took a turn for the better during the holiday-shortened week ended July 3. The mining and minerals index showed a gain of more than 65 points and the general market portfolio index jumped by 26.7 points. Daily trading volumes fell off by the end of the week, however, dropping from a high of 5.3 million shares to a light 2.95 million shares. The partners in the Louvicourt Twp. massive sulphide discovery in northwestern Quebec revealed they have been meeting to discuss a possible settlement to their legal disputes against each other which could tie up the property’s development for years. Societe Miniere Louvem, trading 119,800 shares, added 63 cents to $6.13, while its parent, St. Genevieve Resources, gained 12 cents to $1.55 on 301,700 shares. Toronto-based Aur Resources slipped 49 cents to $4.10 on a volume of 32,800.

Exploration Orex of Rouyn- Noranda, Que., announced it is taking legal action against TSE-listed Onitap Resources over the Goldboro gold project in Nova Scotia. Orex, which slipped 21 cents to 50 cents with 345,300 shares changing hands, has been exploring the property under an agreement which would let it earn a 100% interest from Onitap.

An option to earn a 50% interest in two gold properties, Clerno II and Lac Vallet, east of Rouyn- Noranda has been acquired by Aurochs Exploration from Ecudor Mining. Aurochs, which climbed 3 cents to 25 cents on 7,700 shares, must make total property expenditures of $1.25 million over five years to earn its interest. Trading 300 shares, Ecudor closed unchanged at 19 cents.

Jointly exploring the Courville gold property in the Val d’Or area of Quebec, where a summer exploration program is planned, are Parquet Resources and Cache Explorations. Cache, which is earning a 50% interest in the project from Parquet, plans to test the project’s A zone laterally and at depth with eight drill holes. Trading 16,200 shares, Parquet closed unchanged at 10 cents. Cache gained 12 cents to 52 cents on 2,000 shares.