Alberta Stock Exchange Kingswood active (July 22, 1991)

As drillers moved on to its 133-claim property in La Gauchetierre Twp., Que., during the week ended July 16, Kingswood Explorations bounced up five cents to 18 cents. Noranda, earning a 75% interest in the base metal property, will kick off the exploration program with a 1,300-ft. hole. Nearby at the Phelps Dodge copper property, Kingswood plans to test a down-hole anomaly picked up recently by a Val d’Or-based geophysical company. A merger designed to ease the development of Aquagold Resources’ limestone deposits in Nova Scotia is in the works. The final agreement, which would see Aquagold merge with an experienced limestone production and marketing firm, is subject to permitting from the Nova Scotia Department of the Environment. Aquagold closed unchanged at 20 cents. To raise exploration funds, Noble Peak Resources has arranged a private placement of 322,600 units, each consisting of one flow-through common share and one warrant. Proceeds of the $100,006 placement will be used to finance exploration on one or more of the company’s Canadian properties. Noble Peak was 30 cents bid, 33 cents ask for the week. Minority shareholders of Zahavy Mines have rejected a proposed private placement with Noramco Mining. The placement, consisting of 1.4 million shares at 28 cents per share, would have raised $400,000 for the cash-strapped company. Zahavy, with a developed gold deposit near Red Lake, Ont., was five cents bid, 11 cents ask. Future Avenir, a subsidiary of Champion Gold Resources, has bought a 30,000-sq.-ft. office building in Houston, Tex. Champion was 20 cents bid, 20 ask.