Montreal Exchange (November 18, 1991)

Benefiting from a buying mood by investors, the ME recorded a 43.4-point gain in its market portfolio and a 54.6-point gain in its mining and minerals index during the week ended Nov. 12. Daily trading volumes were buoyant, ranging between 6.1 million and 9.5 million shares.

The flurry follows a positive October, during which the dollar value traded on the exchange’s equity market totalled $1.8 billion, up from $1.4 billion in September and $1.4 billion for the same month last year. The mining and minerals index gained 7.7% during October.

Reporting improved gold production but leaner earnings (reflecting a lower net selling price for gold) for the third quarter was Cambior, which is active now in both North and South America. Trading 43,200 shares, Cambior slipped by 38 cents to $10.

VSM Exploration and its exploration partner Serem-Quebec reported uncovering a gold-bearing structure at the Gand D property in the Chibougamau, Que., area. The initial shallow drilling will be followed by a 500-metre drill program. VSM gained a penny to 73 cents on a volume of 41,600. Toward the end of November, the St-Aime-du-Lac-des-Iles, Que., graphite concentrator of Stratmin Graphite, which is controlled by Stratmin, will resume full production. Stratmin, which jumped 15 cents to 45 cents on 64,700 shares, said inventories have been reduced considerably. The concentrator has been operated on a part-time basis since April.

Globex Mining Enterprises and Fairfield Explorations have negotiated an option agreement with Noranda Exploration, whereby the latter may earn a 60% interest in their Margry-Le Tac claim blocks in northwestern Quebec. Trading 400 shares, Globex climbed 3 cents to 35 cents. Fairfield was 5 cents bid, 10 cents ask on the week.