Montreal Exchange Barexor issues popular

Trading more than 1.7 million shares on the Montreal Exchange this week was Barexor Minerals, the activity attributed by a spokesman mainly to the naming of a new president of the company.

Barexor, whose shares closed up 38 cents to 99 cents , last week named Michel David, a geologist who is also President of Mimiska Exploration, which is a member of the Ariel Mining Group, to the top spot.

Trading on the exchange this week was active, with the market portfolio surging ahead and the mining and minerals index both up and down. The exchange recently reported experiencing a record profit and revenue for 1986.

Still riding high is Onyx Resources, which closed up 8 cents to 52 cents with 1,128,700 of the company’s shares changing hands. Onyx is earning a 50% interest in Kerr Addison Mines property in Joutel Twp., northwest of Val d’Or, through the expenditure of $600,000. Preliminary exploration results have been encouraging.

Also, trading in Messeguay Mines stock continues to be active; the company’s shares closed down 9 cents to 62 cents on a volume of 1,077,000. Messeguay will conduct a bulk sample of 40,000 tons on its Launay- Privat gold property, located 40 km northeast of Rouyn, this summer.

Closing up 15 cents to 55 cents on a volume of 944,700 was Stabell Resources, which earlier this year completed rehabilitation of shaft No 2 (Hammel vein) on gold property near Val d’Or. Stabell’s partner in the project is Acquisitor Mines.

Stabell and Acquisitor were also reported pursuing a drilling program on the Estrades property bordering the east limit of the Golden Hope property located in the Casa Berardi area of Quebec.

Cogesco Mining Resources traded 1,035,400 shares and closed up 14 cents to 95 cents . According to President Stuart Lee, a recent flow-through issue involving about 10 million shares raised approximately $10 million for the company.

Three companies recently adding their names to the listings on the Montreal Exchange are Tyler Resources, Exploration Trois Dimensions and Mines Lyon Lake.