A cease trade order was issued by the OSC this week against Carolin Mines for failure to file financial statements. Carolin closed in the 60 to 70 range when trading was stopped. The company has been involved in a tailings retreatment plan at its Ladner Creek gold property located near Hope, B.C.
Slipping off to match the price of Jascan Resources following an amalgamation announcement last week was Atlantic Goldfields which closed at 60 -65 .
Two issues better this week were Langis Silver at 60 -65 and Mt. Pleasant Resources at $2.75 to $3.00. Mount Pleasant has an interest in a New Brunswick tin mine together with Cambior Inc. Wye Resources was also active this week at the 55 -60 level.
Big Long Lac Gold Mining Co. announced an acquisition and share recapitalization plan. The company plans to acquire all of the shares of Commstar Inc., a private company active in the distribution of products and services to the communications industry. As part of the transaction, Big Long Lac would consolidate its common shares on the basis of one new for ten old, and change the company’s name at a shareholders’ meeting to be held on Dec 8.
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