Alberta Stock Exchange Jilbey bucks the trend

Following on market downturns in Toronto and New York, which have seen sharp decreases in share prices, volumes were well down in recent weeks.

Even major traders were relatively quiet as investors play wait- and-see with interest rates and the tone of future Canada-U.S. trade talks.

However, that didn’t stop Jilbey Industries from jumping 65 cents on a volume of 237,800 shares to close at $3.70. The Jilbey issue was responding to news that Montreal- based Sofimin (see separate story) has agreed to finance Jilbey’s 25% interest in the Fontana property near Amos, Que.

Bay Resources, which was up 50 cents to close at $4.30, holds a 75% interest in the Fontana property where a 10,000-ton bulk sample is to be processed at Cambior’s mill in Destor, Que.

News that San Paulo Explorations has just dealt one of two gold properties to Noranda Exploration (see separate story), sent the issue up 10 cents on 145,900 shares to close at $1.75.

Located in the Mishibishu Lake area of northwestern Ont. the claim group is close to property which Noranda took under option last year.

Southwind Resources, last week’s star performer, was a heavy trader once again. The issue was up 3 cents on a volume of 581,000 shares traded to close at 56 cents . While the company abandoned some South African properties last year, phone calls to the company’s Toronto offices remain unanswered.

While Golden Shadow Resources dropped 2 cents to close at 52 cents , the issue sparked considerable investor interest. A total of 455,200 shares changed hands after an announcement that the company will spend $1.9 million to explore its Central Patricia property in Pickle Lake, Ont.

This property lies adjacent to the former Pickle Crow mine which produced 621,806 oz gold grading 0.36 oz per ton between 1935 and 1966.

While Aurora Gold has completed an agreement which allows Belmoral Mines to earn a 60% interest in its Senniville gold property in Val d’Or Que., the Aurora issue closed at 55 cents , down 9 cents on a volume of 15,000 shares traded.

Under the agreement, Belmoral will spend $300,000 over two years to explore the property and pay Aurora up to $60,000 cash.

Nearly two weeks after receiving the proceeds of its first public issue, Stratabound Minerals, a gold exploration company, remained steady to close at 65 cents .

The company says it has received encouraging assays of up to 0.174 oz gold per ton from one of its properties at Indin Lake, Northwest Territories. .N16