Alberta Stock Exchange Mill City among movers

While the summer doldrums continued to hamper trading in Alberta, the performance of some gold issues were worth noting. Mill City Gold, which has a 10% net profits royalty interest in some properties in Deloro and Shaw Twps., Ont., was up by $2.95 to close at $3.25 on 2,200 shares traded. Mill City has an option with Tyranex Gold to acquire a 100% interest in these properties.

HWI Industries’ recent option to acquire a 50% interest in four placer mining leases in the Quesnel mining district of B.C. boosted the issue by 30 cents . It closed at 70 cents on a volume of 43,200 shares traded.

The leases are in the Barkerville area which produced over 2 million oz of gold between 1860 and 1940. HWI has begun exploration and if results look favourable, the company will exercise its option by issuing 100,000 shares of common stock.

Eden Roc Minerals, which could produce gold from an Ivory Coast, West Africa, property by late next year was up 10 cents , on 120,300 shares traded, to close at $3.50.

Trading on a volume of 357,600, the week’s second largest, Mohave Gold remained steady to close at 49 cents . The Calgary company’s major interest is the Pilgrim mine. A former gold/silver producer, it is located in Arizona.

Despite a private placement and some recent investments, Accord Resources remained steady to close at $2.50. Accord recently subscribed for 500,000 units of Longreach Resources which owns the Platinum Blonde project in B.C. Located near the old Union Mine (Sumac Resources), the 102-claim property has bonanza type deposits of up to 80 oz per ton of gold.

To finance exploration activities on its Aruba Island gold prospect, Monte Carlo Gold Mines has arranged a private placement for $1 million with a major Canadian investment house.

Under the terms of the agreement Monte Carlo has arranged for a maximum 500,000 and a minimum 250,000 Class A common shares at $4 per share.

However, while Monte Carlo is about to begin phase 2 of a $2.5 million exploration program, the issue fell by 24 cents to close at $3.95 on a volume of 62,100 shares traded.

The Zahavy Mines issue also failed to respond to news that drilling has increased both reserves and values at the company’s South Trout Lake gold/silver property. The issue was down 25 cents to close at $5.25 on 12,600 shares traded.