Alberta Stock Exchange Platinum boosts issues

While growing tensions in the Persian Gulf propelled gold prices to $467(US) per oz, it was platinum which had investors racing to buy up shares of two Alberta issues.

Trading on a volume of 952,900, the Canadian Platinum issue was up 10 cents to close at 50 cents . With a 100% interest in a 65 km platinum property in the Ungava region of Quebec, Jascan Resources also attracted investor interest. The issue was up 95 cents to close at $4.50 on a volume of 865,800 shares traded.

Geologist Dino Titaro said Jascan is close to signing an agreement with U.S. Borax and Chemical Corp. which would give the former company an interest in a large silver/copper deposit located in Montana. According to Mr Titaro, reserves on the property are in excess of 70 million tons.

Rising silver prices boosted the share price of Silver Century Explorations. The issue was up 95 cents on a volume of 43,300 shares traded to close at $2.60. The company has a number of silver properties in Peterson Lake, Ont., but according to the company, no major announcements are expected.

McSev Exploration which has oil and gas interests in Alberta, was also active. The issue was up 6 cents to close at 46 cents on a volume of 757,300.

After failing to raise $1 million through a private placement for exploration on its Aruba Island gold prospect, Monte Carlo Gold Mines must look at alternative financing sources.

However, investors seemed unconcerned by news that a major investment house will not act as Monte Carlo’s exclusive agent for the offshore placement of a maxium 500,000 and minimum 250,000 class A common shares at $4 per share. Trading on 20,000 shares, the issue was up 15 cents to close at 4.50.

While Mohave Gold recently announced a production decision at its Pilgrim property in Arizona, the issue lost some of its recent momentum.

Chairman Daniel Gallagher said drilling of 25 holes on the property will start within 60 days to test indicated potential reserves for 1 million tons grading 0.05 to 0.10 oz gold per ton. Nevertheless the issue was down 4 cents to close at 60 cents on a volume of 334,000 shares.

The Marker Resource issue also failed to respond to a recent agreement which will provide $1.4 million for exploration at the company’s Manitoba and Newfoundland properties.