Montreal Exchange (January 13, 1992)

Activity slowed during the New Year’s holiday week but did pick up on the last day of our report period ended Jan. 7. Daily trading volumes ranged between 1.6 million and 5.9 million shares. The market portfolio closed down by less than a point, while the mining and minerals index tumbled by slightly more than 40 points.

Gaining a dime to 24 cents on 187,500 shares was Gaspesie, Societe d’Explorations Petroliere & Miniere. The junior announced it raised $250,000 through the sale of one million treasury shares, the funds to be used for the development of an optioned titanium property at St. Hyppolithe, Que. Wrightbar Mines, whose annual meeting is scheduled for Jan. 31 in Montreal, is looking for a new partner willing to continue exploration work on the southern part of the company’s Bourlamaque property near Val d’Or, Que. The junior says it would also welcome partners to explore its Puiseaux property in Quebec’s Casa Berardi area. Trading 17,600 shares, Wrightbar was off by a penny to 6 cents.

Out west, International Corona is seeking financing and possibly a partner to help develop the Eskay Creek gold project in northern British Columbia. The gold producer, headquartered in Vancouver, slipped by 63 cents to $4.50 on a volume of 83,100.

Saskatoon-based uranium and gold producer Cameco, in addition to its Canadian work schedule, is planning hunts this year for uranium in Australia and for gold in a couple of South American countries. Total company exploration expenditures of $10-12 million are planned for 1992, similar to last year. Trading 1,500 shares, Cameco gained 13 cents to $13.63.

Northgate Exploration, which was 80 cents bid, 95 cents ask on the week, said it has received final clearance for its rights offering which could raise up to $4.5 million.