Alberta Stock Exchange Traders like Conquest

Even in a week when investors seemed to have taken a Christmas break, some encouraging drill results from Conquest Yellowknife Resources’ Missanabie area gold bet, didn’t escape the attention of market watchers.

While volumes were generally low, news that Conquest Yellowknife has intersected the main Braminco shear as it extends north of the Renabie and Canreos mine properties pushed the company’s share price up 41 cents .

Trading on a comparatively respectable 67,600 shares, Conquest Yellowknife closed at 81 cents .

According to the company, two drill holes at its Leeson Twp. property near Missanabie intersected 7.1 ft of 0.12 oz gold per ton and 13.3 ft of 0.236 oz which indicates that the structure has a strike length of 400 ft.

A couple of acquisitions in the Beardmore, Ont., area gave the Ontex Resources issue a pre-New Year’s boost. It gained 40 cents to close at $1.70 on a volume of 61,300 shares following an announcement that an Ontex subsidiary has acquired a 100% interest in 26 leases in Pifher Twp.

Ontex’s numbered subsidiary has also acquired a 10% net profits royalty interest, previously owned by Metalore Resources, in 15 leased claims in Irwin Twp.

A syndicate involving Toronto- based Eden Roc Minerals has applied to the Ivory Coast Ministry of Mines for an exploration permit covering a 22 x 3-km mineralized shear system known as the Afema trend, the company said recently. That was enough to send the issue up 15 cents on a volume of 1,000 shares traded to close at $1.35. According to Eden Roc, previous exploration programs on the Afema trend have identified 1.8 million tons of average grade 0.21 oz.

It added only 6 cents to its share price but with 138,500 shares changing hands, the Argus Resources issue was a big trader yet again. A massive sulphide discovery in the Contwoyto Lake in the Northwest Territories has kept Argus in the forefront of trading activity recently and it closed at 66 cents this week.

The Suffolk Resource issue was also prominent. Trading on 127,500 shares, Suffolk lost 3 cents to close at 43 cents . Like Eden Roc, Suffolk is also involved in gold exploration along the Ivory Coast.

While it didn’t trade this week, Cambridge Ventures plans to buy at least 90% of the issued and outstanding shares of a private Ontario company called Shango Resources at 50 cents per share.