Alberta Stock Exchange Volumes lacklustre (November 12, 1990)

Trading volumes slumped during the report period ended Nov. 6 as investors stayed clear of the market to await signs of a recovery in the economy. Despite strength in the gold price, a number of junior gold issues slipped lower. BMR Gold shed 4 cents to close at $1.10 while Ontex Resources gave up some of its recent gains by dropping 34 cents to $2. A big loser during the report period was Golden Crescent Resources which plunged 69 cents to a new low of 10 cents on volume of 21,200 shares. The company hasn’t had much luck raising funds to explore on a number of gold properties owned by Placer Dome in northern Ontario.

Shares of Eden Roc Minerals rose 15 cents to 41 cents on volume of 77,000 shares. The company is developing a gold property on the Ivory Coast of Africa.

International Baslen is meeting with banks and private investor groups in Europe and the U.S. to raise funds for drilling on its gold property in the Val d’Or area of Quebec. Baslen shares fell 3 cents to 19 cents on volume of 24,500.

Raymor Resources says it expects to execute a definitive agreement by Nov. 30 with Bullion Monarch Canada Resources to explore and develop the Adonis lithium property near Preissac, Que. The Raymor issue was 21 cents bid-24 cents ask.

Shares of American Ore rose 3 cents to close at 11 cents on volume of 196,500. The company has commenced a second phase of drilling on its Iskut joint venture property in British Columbia. The program will test the Gregor zone to follow up holes drilled earlier this year.

Durga Resources traded 49,500 shares to close at 30 cents after the company announced it has acquired former Chiquita gold mine property in southwestern Nevada.

In the base metals area, Savanna Resources traded 277,000 shares to close at 30 cents, up 2 cents on the week, while Bonanza Metals rose 5 cents to 25 cents on thin volume. Stratabound Minerals was also better, closing up 5 cents at $1.05 on volume of 10,100 shares.

The Alberta Securities Commission has issued cease-trade orders against Cliff Resources and Mohave Gold for failure to file certain financial information.