COATS (over-the-counter) Mount Wright wins NSR

After a 9-year legal battle, Mount Wright Iron Mines has finally won the proceeds from a 1% net smelter royalty on production from Exminesa’s Rubiales mine in Spain. A Spanish court has ordered Exminesa, a unit of Cominco, to pay Mount Wright $3.4 million. Mount Wright shares were 17 cents bid, 22 cents ask for the week ended July 3. Having traded actively for several months, Sumtra Diversified reached the top of the heap in terms of trading volume this week with 183,050 shares changing hands. Sumtra has been increasing its stake in Opawica Explorations, which is currently embroiled in a lawsuit against Minnova and Falconbridge for the return of the Lac Shortt gold mine in Quebec and $50 million in damages. Sumtra shares were up 5 cents to close at $1.40, but insiders could not be reached for comment.

Shares of Golden Hope Mines jumped 25 cents during the week to close at 80 cents on a volume of 68,600. A total of $9 million is being spent to explore Golden Hope’s gold properties along the Bellechasse mineral belt in Quebec, where the company has outlined several drill targets. Golden Hope President T.H. Polisuk knew of no reason for the sudden trading activity.

Excitement over Noranda’s zinc discovery in Wisconsin continues to bolster shares of Pelangio- Larder Mines. Pelangio, with a large property 20 miles east of the discovery, was up 2 cents to close at 45 cents on a volume of 72,500.