Continuing its winning ways this week was Jascan Resources, up $1.20 to $4 on 383,600 shares. It’s negotiating an agreement to become a joint venture partner with an affiliate of United States Borax & Chemical and a third party to develop a 71-million-ton silver- copper deposit in Montana. Jascan and the third party have to spend $3.5-million each on the property to split a 45% interest between them. The Borax affiliate will act as operator.
Silver Century sprang to life this week doubling in price to $2.10. The company is arranging new financing for a $2.5-million underground program on its silver property in the heart of the Cobalt, Ont., camp. Silver Century is controlled by Toronto’s Agnico-Eagle Mines whose mill at Cobalt will come on stream next month.
Large blocks of Consolidated CBA were traded this week — close to 500,000 shares — although the price remained unchanged at 17 cents . The company holds a gold-silver prospect near Shiningtree in northeastern Ontario, but little has been heard from the company since a control block of shares was sold in late 1986 to a small private U.S. cable TV network.
Coxheath Gold Holdings was up 9 cents to $1.58 on 201,600 shares. The Halifax-based company says it has confirmed the extension of the Beaverdam gold-bearing zone onto property it holds in a joint venture with Seabright Resources. One hole intersected 29 ft, true width, grading 0.49 oz gold per ton.
Ekaton Energy was up 25 cents to $1.35 on 80,000 shares. It has a deal to sell shares to a fund in order to raise $1 million in 1987 and sell another one million shares in 1988 to pay for a feasibility study on its Wood Mountain kaolin property. Kaolin is an industrial mineral used largely as a filler in paint and paper products.
Be the first to comment on "Alberta Stock Exchange Jascan keeps climbing"