Montreal Exchange (October 21, 1991)

Investors were in a buying mood during the holiday-shortened week ended Oct. 15, with both the market portfolio and mining and minerals index recording impressive gains. The former jumped by more than 49 points and the latter by almost 79 points. Daily trading volumes were fairly consistent, ranging between 3.9 million and 4.7 million shares.

Ongoing underground drilling and drifting at the Sleeping Giant mining project north of Amos, Que., is auguring well for program operator Cambior and Aurizon Mines, which continue to announce encouraging results. Trading 48,100 shares, Cambior gained 25 cents to $10.25. Aurizon moved up two cents to 20 cents on a volume of 47,300.

Cache Explorations has negotiated an option agreement covering a couple of properties in northwestern Quebec with Societe de Developpement de la Baie James. Cache, which gained a penny to 17 cents on 17,000 shares, must spend $700,000 on exploration work during a 3-year period to earn a 100% interest. In Ontario, TSE-listed Arimathaea Resources announced the acquisition of a 16.4% interest (more than two million shares at four cents per share) in Chesbar Resources, which was three cents bid, five cents ask on the week. The two companies are joint owners of gold exploration property in Chester Twp. southwest of Timmins, Ont.

Cancelling its October annual meeting in Montreal was Madeleine Mines, which after a management shuffle is now controlled by an Oklahoma concern. Madeleine, hoping to become a platinum group metal producer in northwestern Ontario, gained 13 cents to $3.13 on 15,300 shares.