Montreal Exchange Amalgamation plan

News that two Hughes-Lang companies active in northwestern Quebec, the producing D’Or Val Mines and the soon-to-be-producing Perron Gold Mines, are planning to merge brought differing results. D’Or Val shares moved up 17 cents on the week to 97 cents on a volume of 56,500, while Perron dropped 29 cents to $1.20 on 93,000 shares.

Approval by shareholders and regulatory authorities is needed for the amalgamation to occur. Perron needs money, which D’Or Val can provide, to continue its development; D’Or Val can use the ore Perron should be able to deliver to feed its 750-ton-per-day milling facility.

It was a fairly quiet week on the me, with both the general market portfolio index and mining and minerals index finishing with small gains. Daily trading volumes continue to be moderate.

Reporting encouraging early drilling results from a number of gold properties, and one with polymetallic values, were LaSarre Inc., which traded 6,600 shares and closed unchanged at 18 cents , and Normetal Inc., which slipped 5 cents to 36 cents with 27,500 shares changing hands.

Agreement has been reached between Vior Inc. and the firm Jack Stock Geoconseil whereby Vior may earn a 100% interest in the Cavelier gold property located 20 miles southwest of Matagami, Que. Vior, which moved down 10 cents to 93 cents on a volume of 23,300 shares, reports it intends to drill on the property this spring.

St. Genevieve Resources and Augmitto Explorations have announced completion of a second drilling program, comprising 23 holes, on the Parbec gold property located about two miles west of Malartic, Que. Trading 289,900 shares, St. Genevieve dropped 19 cents to $2.15, while Augmitto slipped 4 cents to $1.25 on 16,000 shares.

Completing a takeover bid for the privately-held Retty Lake Resources was La Fosse Platinum, which closed unchanged at $1.60 on a volume of 14,500. La Fosse has interests in a number of properties, including a prospect in northern Quebec with copper, nickel and platinum group metal values.

Newly listed on the me is Vent d’Or Exploration of Val d’Or, Que.