Montreal Exchange (September 16, 1991)

Indices in declineBoth the market portfolio and mining and minerals index took it on the chin during the week ended Sept. 10, with the former off by 21.7 points and the latter down by 27.3 points. Daily trading volumes, ranging between 3.2 million and 6.5 million shares, picked up during the latter part of the report period.

Junior Societe d’Exploration Miniere Mazarin of Quebec City topped the week’s list of resource issues in terms of volume, with more than 300,000 shares changing hands. Mazarin and Societe d’Exploration Miniere Vior reported negotiating an option deal with uranium giant Cameco whereby Cameco may earn a 60% interest in the Montgolfier-South property of Mazarin-Vior in Quebec’s Casa Berardi area. Mazarin gained three cents to 33 cents. Trading 40,300 shares, Vior slipped by three cents to 31 cents. Cameco was down by 25 cents to $14.75 on a volume of 40,200.

Audrey Resources announced reaching an agreement with Minnova regarding the development of the 1100 base metal project at the Mobrun property near Rouyn-Noranda, Que. Audrey, which gained 13 cents to $2 on 138,000 shares, said the agreement will enable it, among other considerations, to complete the restructuring of its long-term debt. Trading 400 shares, Minnova slipped by 50 cents to $16.50.

From Timmins, Ont., American Reserve Mining reported more encouraging assays from deep drilling of the eastern extension at the Paymaster gold project. Trading 62,300 shares, American Reserve gained 11 cents to 48 cents. American Reserve’s partner in the venture, Placer Dome, saw its stock slip by 63 cents on the week to $12.63 on 168,500 shares.

The ME reported that the dollar value of its equity market traded in August totalled $1.27 billion, up slightly from July but below last year’s total for the same month.