Montreal Exchange (August 05, 1991)

The general market portfolio index gained more than 15 points and the mining and minerals index almost three points in mainly lacklustre trading during the week ended July 30. Daily volumes ranged between 2.9 million and 4.7 million shares.

Northeast of Amos, Que, Aur Resources and TSE-listed Jonpol Explorations reported completion of a preliminary drilling program at a base-metal project in Dalquier Twp. Aur, which moved up 13 cents to $3.63 on a volume of 11,300, may earn a 60% interest in the property by spending $1 million on exploration work by Aug. 31, 1994.

Cheni Gold Mines, which was ahead by nine cents to $1 on slim trading of 500 shares, announced a substantial increase in reserves at its J&L gold-silver-lead-zinc property in British Columbia. Total reserves (probable and possible) of the Main zone are now estimated to be 4.8 million tonnes, with the Yellowjacket zone registering an estimated 910,000 tonnes. Cheni’s project partners are Equinox Resources and Pan American Minerals. In northeastern Ontario near Wawa, Spirit Lake Explorations plans a summer program of surface drilling and underground bulk sampling at its Edwards gold property. Trading 21,400 shares, Spirit Lake slipped by two cents to 38 cents. A settlement has been reached with its creditors, Radisson Mining Resources reported. Jean-Marie Dupont, New company president, said the creditors have agreed to accept 50 cents on the dollar and common shares. Radisson undertook a bulk-sampling program at its Duquesne gold-mine project near Rouyn-Noranda, Que., and had been custom-milling the material, but the company was unable to cover all of its costs. Radisson closed unchanged at eight cents on 5,000 shares.