Montreal Exchange Market shows gains

As lacklustre as trading on the stock markets has generally been of late, the Montreal Exchange managed to pull ahead during the week to show gains both in the market portfolio (almost 24 pts) and the mining and minerals index (almost 21 pts). The volatility remains, however, with gains one day either reduced or negated by losses the next session. Daily trading volumes continue to be light, ranging this past week between 3.1 million and 5.2 million shares.

Taking on a partner for its Courville gold property in the Val d’Or area of Quebec is Parquet Resources, which closed unchanged at 18 cents on a volume of 37,000. Signing an option to earn up to a 30% interest, through expenditures totalling $3 million, cash payments and share issues, before Feb 29, 1991, was Finor Exploration, which traded 12,100 shares, slipping 3 cents to 26 cents .

Stratmin Inc., which closed unchanged at $1.30 with 445,500 shares changing hands, plans to begin production in November at its graphite property located south of Mont-Laurier, Que. The company says it has a deal, which is subject to the results of a feasibility study, to have the graphite concentrate processed by an American firm, Asbury Graphite Mills.

Recently beginning an exploration program at the Lac Arthur gold-base metal property in Dalquier Twp. in northwestern Quebec were Robex Resources and Aylmer Mines; the pair may earn a combined 70% interest from the property holder, ASE-listed Raymor Resources. Robex on the week gained 5 cents to 95/7dh / on 30,400 shares. A related company, Veinor Resources, which traded 15,600 shares and jumped 10 cents to 80 cents , has also announced the startup of an exploration program on its Maritime- Cadillac gold property, also located in northwestern Quebec.

Coleraine Exploration, formerly Rambo Exploration, reports possible reserves of chromite (grading 4.5% CR 2 0 3) of 1.5 million tonnes at its Coleraine property near Thetford Mines, Que. The company traded 52,600 shares, dropping 2 cents to 35 cents . The property is currently undergoing a program of stripping and mapping.