Alberta Stock Exchange Jerome doubles

Speculation of a successful merger between Jerome Gold Mines and privately owned International Platinum has driven the share price of Jerome to 11 cents, up 6 cents from last week’s close on a volume of 685,900. Charles McAlpine, president of Jerome, says he is confident the shareholders will approve the amalgamation during this week’s meetings. International Platinum is awaiting permits to explore a platinum property in Queensland, Australia.

Results from Kingswood Explorations 8-hole drilling program on its property near Matagami, Que., have failed to spark the share price of the Toronto-based explorer. In fact, Kingswood shed 4 cents to close at 17 cents as the company announced the discovery of two separate copper zones on the previously undrilled claims. The best intersections, taken from the M zone, returned assays of 0.10%-1.5% copper over widths of 1 metre or less.

On May 2, shareholders of Reymont Gold Mines will be asked to approve a company name change and a consolidation of the company’s shares on a 10-for-1 basis. Reymont, soon to be Pallaum Minerals, has decided to drop the proposed acquisition of two properties in New Mexico because the vendors have been unable to come up with proof of title. Over 229,000 shares of Reymont changed hands this week but the company closed unchanged at 3 cents.

Barnet Exploration has agreed, subject to regulatory approval, to option Peter Island Resources’ gold prospect in Barnet Twp., Ont. By spending $300,000 on exploration and making total payment of $100,000, Barnet can earn a 60% interest in the property. Barnet plans to raise $60,000 to finance exploration on three of the property’s gold targets this year.

Integrated Resources gained 5 cents to close at 17 cents on a volume of 198,000. The company has several gold prospects in northwestern British Columbia and has announced plans to acquire a 45% interest in a Nevada gold project.