Alberta Stock Exchange (October 21, 1991)

Taking the word “gold” out of its name and replacing it with “technologies” did a lot to boost the value of North American Gold during the week ended Oct. 15.

Trading more than 260,000 shares, the Michigan-based junior picked up 50 cents to $4.50 as it completed the name change. North American Technologies will focus on drilling technology, the environment and tar sands. Another company that appears to be leaving the gold exploration business behind is Gunnar Gold Mining. Gunnar picked up a penny to four cents, as the company announced the proposed acquisition of AVECA Entertainment. The acquisition will cost Gunnar 5.5 million earn-out shares and two million convertible preferred shares. Gunnar, which will change its name to AVECA, will first consolidate its shares on a 1-for-10 basis.

On a similar tack, Knight Mining, which has been delisted since April 1990, has purchased all the assets of a Calgary-based computer software company. Knight has relisted as Choice Software and recently traded at $1.20. Bonanza Metals says it has started an exploration program on the Mountain property, a gold prospect lying southwest of Freewest Resources’ discovery in Benoit Twp., Que. Line cutting is currently under way in preparation for mapping, geophysics and, in December, drilling.

Bonanza, which was six cents bid, 10 cents ask for the week, says financing has been arranged for the $140,000 program.