Montreal Exchange Eider takes wing

Wednesday close, Sept 17

A little-known Quebec company, Eider Resources, was the top trader on the Montreal Exchange this week with 478,900 shares changing hands.

The stock’s price gained 25 cents , a 34% gain on the week, closing at 98 cents .

Eider is in the process of raising $2 million for exploration on its properties. Most will go to its Rouyn-Beauchastel property near Rouyn in northwestern Quebec. That burgeoning area is felt to hold great promise for Eider which plans to spend $1.1 million there this year.

Senior mining issues were again active during the week, too. Norandawas unchanged at $19.75 on 387,200 shares, Inco was down 75 cents to $18.25 on 225,000 shares and Placer was up $1 to $31 on 193,700 shares after briefly touching a year high of $31.12.

Mazarin announced that it has reached a deal with Cambior to buy the Wilco property one mile west of Rouyn. Mazarin was down 6 cents to 46 cents on 119,400 shares. Its sister company, Vior, picked up a penny to close at $1.32 on 150,300 shares.

Audrey Resources, which is scheduled to start treatment of a 20,000-ton bulk sample from its Mobrun property near Rouyn by the end of the month, was up 20 cents to $1.60 on 128,800 shares setting a year high of $1.85 durin