Newly formed Manor Resources burst on to the exchange this week, taking the volume lead with over 200,000 shares. Opening at $1, Manor picked up 18 cents during the week ended Nov. 20 to close at $1.18. Manor, formed by the amalgamation of three junior mining firms, holds a portfolio of gold and base metal properties in Newfoundland, Nova Scotia and Ontario. Also active this week, Regal Goldfields is involved in a drilling program in Chile through its 35% ownership of Goldteck Mines. Goldteck is testing a placer deposit with preliminary reserves of 60,000 cubic metres grading 1.7 grams gold per cubic metre. Trading 90,500, Regal remained steady at 35 cents.
Trading 48,683, Sumtra Diversified picked up 5 cents to close at 40 cents. The company’s share value has dropped off sharply in recent months, likely due to Minnova’s problems at the Lac Shortt gold mine in Quebec, which recently led to a $10-million writedown. Sumtra owns at least 26% of Opawica Mines, which has been trying to claim a royalty interest in the mine.
Still awaiting results from its gold property near Kenora, Ont., Willingdon Resources gained 10 cents this week to close at $1.30 on a volume of 155,050. The company says it has completed about 1,000 metres of drilling, and expects results from “exciting” looking core by the end of the month.
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