Sindor Resources traded in the $1.22-$1.18 range. Sindor is anxious to bring the former-producing Lisbon Valley, Utah, property into production. The company says drilling has established a potential for 20 million tons of “commercially mineable” copper ore. Sindor is re-evaluating a 1986 feasibility study and, if the results are positive, hopes for production in the second quarter of 1990.
Rumors abound that the takeover battle between Atlantic Goldfields and Jascan Resources may soon be resolved. Trading of Jascan was halted on the TSE and investors are awaiting an announcement. Atlantic traded this week at 69 cents .
McNickel Inc. was steady with 18,900 shares changing hands with a range of $3.65-$3.40. Drilling is set for the spring on McNickel’s promising claims near Lac St. Jean, Que.
Young-Shannon Gold Mines remained active, trading in the $1.25- $1.45 range. The company is drilling on its property in Chester Twp., northern Ontario. Also drilling in Chester Twp. is Canadian Gold Resources which dipped slightly to the 23 cents -26 cents range on a volume of 67,500.
Among the volume leaders was Hubert Lake Ungava Nickel Mines which fell to 10 cents -13 cents after trading in the 50 cents range recently.
Victoria Graphite posted a moderate 5 cents gain to $1.85-$1.90 on light trading.
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