Alberta Stock Exchange Bitech big trader

A whopping 1.2 million shares of Bitech changed hands despite a recent deline in the price of gold. The Toronto-based company has gained a lot of mileage from its Nugget Pond project where a 10,000 m phase 11 program is underway.

Even though it is too early to draw hard and fast conclusions about the project, Bitech’s share price has almost doubled since the beginning of January. It was up 32 cents to close at $1.62 this week.

News of a 25 cents dividend to be paid out to shareholders of Zenmac Zinc was enough to send the share price up 20 cents . It closed at $2.60. Zenmac is claiming ownership of Minnova Inc.’s Winston Lake zinc mine near Schreiber, Ont. which opened last summer.

Zenmac is claiming a 20% joint venture interest and a 20% proprietary interest in the 1,000 ton-per- day operation.

Also up 20 cents was the Mill City Gold issue which closed at 50 cents . Texas-based gold producer Battle Mountain Gold recently signed an option to earn a 40% interest in Mill City’s Courageous Lake gold property in the Northwest Territories.

Still at grass roots stage, the property covers faborable felsic volcanic and sedimentary rocks along strike from the Tundra gold venture, currently being explored by Noranda Inc. and Total Energold.

Gunnar Gold is the other partner in the Courageous Lake joint venture but it was only slightly ahead at 47 cents .

The Naneco Resources issue responded well to a $100,000 private placement designed to fund independent geological and engineering assessments of the Longstree and Johnson Gulch projects in the U.S.

It gained 16 cents before closing at 45 cents . Naneco has the right to earn a 50% working interest in each project by producing a feasibility study and financing them to commercial production.

The Blue River Mines issue lost 4 cents from its share price despite news that after 18 months of negotiations, the company can start producing high purity silica from the Fermont quartzite deposit in Labrador, Nfld.

While Labrador Mining and Exploration retains a 12.5% net profits interest, silica from the project will be targeted for use by Eastern Canadian glass producers.

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