Montreal Exchange Changes for La Sarre

The senior mining companies fared well during the week ended April 30 in terms of trading activity, although the general daily volumes, in the range of 2.9 million to 5.2 million shares, were off from previous weeks. During the most recent report period, the general market portfolio index slipped by almost 21 points, and the mining and minerals index tumbled by almost 50 points.

Societe d’Exploration Miniere La Sarre said it has scheduled a special meeting May 21 in Montreal to allow shareholders to vote on a share consolidation, company name change and private financing. A 1-for-4 share consolidation and a name change to Mineraux Manic are being proposed. La Sarre closed unchanged on the week at 6 cents on a volume of 257,100.

Positioning itself for involvement with a Polish mining company is St. Genevieve Resources. A private company, Polcap Investments, has signed agreements with Polish zinc producer ZGH Boleslaw Mines to act as a financial, managerial and technical adviser; Polcap has given St. Genevieve an option to acquire all of the former’s rights under the agreements for $600,000. Trading 46,400 shares, St. Genevieve closed unchanged at 92 cents.

Gaining 3 cents to 20 cents on a volume of almost 250,000 was Aurizon Mines, which has an exploration agreement with Cambior covering property at its Sleeping Giant gold mine property near Amos, Que. Cambior, trading 124,700 shares, was off 25 cents to $9.50.

Incorrect prices appeared for the shares of Ressources Minieres Rouyn in this space in the April 8 edition; the stock was 70 cents bid, 90 cents ask for that week. (The prices quoted that week referred to the company’s warrants.)

Boralex said it will raise about $425,000 through a deal (subject to regulatory approval) involving the sale of its interest in Syprotec, a company specializing in equipment used to test and control the functioning of dielectric material. Boralex slipped 2 cents to 11 cents on 42,000 shares.