Alberta Stock Exchange (July 29, 1991)

Despite havoc in the retail markets, the Alberta market kept its head above water during the first half of 1991. While trading activity and dollar value decreased by 7.2% and 25.5% respectively, the number of financings by exclusive Alberta listings jumped 60% from the same period last year. Four mining companies joined the exchange in the first six months.

Two Calgary-based affiliates, Durga Resources and Durvada Resources, have announced their intention to form a joint venture on the Chiquita gold property in Sandy Valley, Nev.

The partners expect to spend US$2.1 million on exploration and production facilities, subject to ongoing results over a 3-year period. During the week ended July 23, Durga edged up two cents to close at 44 cents, while Durvada gained four cents to close at 64 cents.

In light of the interest generated by a recent offering of 1.4 million warrants of Pacific Metals, the company has decided to offer an additional 275,000 special warrants. Pacific says its original offering has been fully subscribed and will close on or before July 26.

Trading almost 150,000 shares, Pacific gained a penny to close at $1.05. Surging ahead 40 cents to close at 45 cents, Dunfrazier Gold Explorations has granted its directors and employees options to buy company stock at 30 cents per share. Dunfrazier recently announced a proposed takeover of Interlock Steel.