At the Shamrock property in Newfoundland, Eastern Goldfields continues to search for the source of gold previously discovered in soil samples. To date, more than 4,000 grains of gold, ranging in size from 0.006 to five millimetres, have been recovered from the samples. The company is awaiting further results from recent trenching and sampling. Eastern shares were unchanged at 55 cents for the week ended Aug. 7, trading on a volume of 2,500. Former producer Young- Davidson Mines stands to gain indirectly if Royal Oak Resources goes ahead with a plan to buy the Pamour group of companies. Royal has high expectations for Pamour’s Matachewan gold property, in which Young-Davidson has a 23-33% net royalty interest. Young- Davidson was 51 cents bid, 60 cents ask for the week.
At a recent annual meeting, Mount Pleasant Resources announced that it would change its name to Pleasant Realty & Financial Corp. Under its new name, Mount Pleasant has issued a private placement of 350,000 shares at 40 cents per share. The company was 40 cents bid, 55 cents ask for the week.
Last week, Delbridge Mines was incorrectly identified as Flagship Resources. Flagship is seeking opportunities in the manufacturing sector, but has not changed its name. Delbridge is changing its name to Hoverspace International. Flagship dropped 15 cents to 35 cents on a volume of 47,000. Delbridge was 4 cents bid, 8 cents ask.
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