Alberta Stock Exchange (September 09, 1991)

Trading lightly during the week ended Sept. 3, Rembrandt Gold Mines gained five cents to close at 35 cents as VSE-listed Canarc Resource took control of the junior miner.

The share transaction gives Canarc and its principals a 47.7% fully diluted interest in Rembrandt and consequently indirect control over a 100% interest in the Polaris-Taku gold mine in northwestern British Columbia. Polaris-Taku hosts preliminary reserves of 244,000 tons grading 0.33 oz. per ton. Suntac Minerals, 37% owned by Canarc, is earning a 60% interest in the property by spending $3 million and completing a feasibility study. Canarc has been acting as project manager during the 1991 drilling program. North American Gold continues to trade heavily in response to deals outside the mining sector. Along with a Houston-based supplier, North American plans to form a subsidiary to pursue opportunities for processing oil and gas drilling and production waste. The two companies have signed a letter of intent for the transaction.

North American closed unchanged at $3.75 on a volume of 144,500. Joining the most active list this week was Gateford Resources. Gateford’s takeover bid for all of the outstanding shares of Landmark Corp., which has a controlling interest in Dominion Explorers, was accepted by Landmark shareholders earlier this summer.

Gateford lost a penny to close at five cents.

Holding several gold prospects in the Telegraph Creek area of British Columbia, Integrated Resources traded 126,100 shares to close up four cents at 10 cents.