Alberta Stock Exchange Texmont springs to life

News that joint venture partners New Texmont Explorations and Gowest Amalgamated Resources have encountered the downward extension (to 1,000 ft) of a gold- bearing structure known as the Frankfield zone was sufficient to double Texmont’s share price.

It closed at 39 cents on only 12,600 shares traded, while GoWest was up 5 cents to close at 40 cents .

The Frankfield zone, which is known to host 250,000 tons of grade 0.21 oz gold per ton, straddles the boundary of ground held by a number of companies including partners Frankfield Exploration (36%), Intex Mining (64%). New Texmont holds a 48% stake in Intex which didn’t trade dispite news from Tully Twp. nulls onid on the tightly held Intex issue wass 27 cents and the ask 35 cents . Frankfield was down 1 cents to close at 20 cents .

Texmont and Intex are both part of the Pat Sheridan group of companies.

Newly listed International Viking Resources, which represents promoter Murray Pezim’s attempt to grab a share of the oil and gas exploration business was a big trader this week with 287,000 shares changing hands.

While it began trading recently amid much fanfare, the Viking issue lost 2 cents before closing at 85 cents .

The Borealis Exploration issue appears to have been a victim of short selling once again. It lost a whopping 99 cents before closing at $4.25.

It was business as usual this week for Bitech Energy Resources which has been an active trader following some encouraging results from the Nugget Pond gold property in Newfoundland.

After outlining 259,396 tons of grade 0.44 oz, the company is taking a hard look at the available drill data before announcing its next move.

Trading on 495,9000 shares, the Bitech issue was up 18 cents before closing at $1.13.

News that Pelham Gold has agreed (subject to a site and data inspection) to spend $600,000 to earn a 51% interest in Monk Gold’s Rabazo and Naveau Twp. claims was enough to give a boost to both issues. Monk gained 9 cents during trading before closing at 40 cents while Pelham was up 2 cents at 48 cents . The claims are located near Wawa, Ont.

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