Alberta Stock Exchange Adrian benefits from rumored results

Over the past six months, shares of Ontex Resources have quietly moved up above the $1.60 level from below $1 in March. During the week ended July 31, Ontex gained 15 cents to close at $1.65. The gain comes just as a trial date is approaching for Ontex’ court case to be heard against rival Metalore Resources. The two companies are suing each other for control of the Brookbank gold deposit near Beardmore, Ont., where Placer Dome has an option to earn a 50% stake from Metalore. The trial date is scheduled for Sept. 4. Also gaining 15 cents to close at 75 cents was PGE Resource. The company has optioned its claims near Mechanic Settlement, N.B., to Noranda and a $100,000 exploration program is under way.

Integrated Resources moved up 15 cents to close at 40 cents on volume of 306,700 after the company announced its affiliate, Capra Minerals, is raising $750,000 to fund additional exploration on the companies’ gold claims near Telegraph Creek, B.C.

Another junior recently acquiring interests in the Eskay Creek gold camp is Tyrae Resources. It shed 17 cents to close at 90 cents on volume of 416,700 shares during our report period. Tyrae is raising $750,000 through a private placement to fund exploration work on three large claim blocks in the Eskay play. Tyrae’s partner Gold Vessel Resources traded 13,500 to close unchanged at 70 cents.

Indigo Gold tacked on 6 cents to its share price of 28 cents on volume of 135,000 shares. Indigo has also recently moved into the Eskay Creek area by optioning the New Joy property, north of the SNIP gold deposit. Indigo’s other claims are in the Kitsault River area adjacent to ground held by Dolly Varden Minerals.

Gregory Exploration gained 3 cents to close at 18 cents after the company agreed to purchase 9 claims comprising the Wild Weasel group in the Skeena district, B.C.

In the base metals area, Stratabound Minerals has struck a deal with Heath Steele for the latter company to treat a 12,000- tonne bulk sample from Stratabound’s CNE lead-zinc-silver deposit in New Brunswick.

Meanwhile in Quebec, Bonanza Metals has increased its land position in the Joutel-Poirier base metal camp by acquiring the Joutel copper mine from Joutel Resources. Bonanza has been successful in identifying new lenses of copper and zinc on the nearby Mines de Poirier property where $13.9 million is needed to place the former mine back into production.

Storimin Exploration traded 26,500 shares to close up 7 cents at 50 cents during the report period. Storimin has a 50% stake in the Moss Lake gold project near Thunder Bay, Ont., where Noranda is evaluating the open pit gold potential of the property.