Wednesday close, Sept 17
Weakening platinum prices had their effect on Canadian Platinum Refineries, which is a recently listed issue. The stock lost 54 cents to $3.15. Canadian Platinum hopes to start refining platinum from scrap catalytic material from automobiles.
Market watchers will be focusing on the performance of Claude Resources during the next few months. The issue continues in the $3.45 range. Placer Development, which has an option to earn a 55% stake in Claude’s Seabee gold property in northern Saskatchewan, will be deciding this fall to go underground or not (see front page story). A positive decision would be good for Claude.
Industrial mineral producer, Hedman Resources, was also quiet at $2.10. The company is expanding the use of hedmanite, marketed as a substitute for asbestos. Shore Resources, which has the right to earn a 25% stake in the Tamar and Jojay properties near Star Lake, Sask., dipped to $1.70.
Oracle Resources has signed a deal which will provide the company with flow-through share financing. The $500,000 deal will fund exploration on the company’s Opapimiskan Lake claims north of Pickle Lake, Ont.
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