Montreal Exchange Light trading week (May 30, 1988)

A holiday-shortened week of relatively quiet trading on the Montreal Exchange brought few surprises, with the market portfolio closing down but the mining and minerals index showing a small gain. Daily volumes were light, with activity one day dipping to 3.6 million shares.

Closing down 14 cents to $1.50 on 44,500 shares was Campbell Resources, which is considering shutting down its Henderson II gold mine in the Chibougamau area of Quebec should an exploration program fail to turn up new reserves. Campbell, which has other producing gold mines in the area, is on a cost-cutting kick in an effort to boost earnings.

Perron Gold Mines, which recently poured its first gold bar at its Sleeping Giant mine north of Amos, Que., gained 3 cents to 91 cents with 110,600 shares changing hands.

Actively exploring the Deka- Donalda mine project in the Val d’Or, Que., area is Syngold Exploration, which is hopeful of a production startup during the first half of 1989. Syngold slipped 19 cents to $1.15 on a volume of 2,100, while its partner in the project, Minnova Inc., gained 25 cents to $19.63 on 300 shares.

Messeguay Mines reports it has cut the extension of a gold-bearing zone at a vertical depth between 215 ft and 285 ft at the Launay- Privat property. The company, which moved up 1 cents to 36 cents with 12,900 shares changing hands, says a recent drill hole intersected 0.12 oz gold per ton over 91.2 ft, including 0.2 oz over 42 ft.

Boosting its first-quarter earnings by more than 16% and gold production during that period by 41%, compared with last year, was Cambior Inc., which jumped 88 cents to $15 on 153,000 shares.

The ME on May 27 hosted the popular public-television program Wall Street Week with Louis Rukeyser, which was aired live from the floor of the exchange.

Newly listed on the ME are two Ariel group companies, Brex Exploration of Montreal and Mirandor Exploration of Val d’Or