Among the volume leaders were some of the major mining companies; gold-producer Placer Dome, nickel producers Falconbridge Ltd. and Inco Ltd. and base metals giant Noranda Inc. Each traded more than 400,000 shares.
Reporting conditional approval for a credit facility of up to $6 million was Radisson Mining Resources. The company plans to use the money to place its Duquesne gold mine north of Rouyn-Noranda, Que., into production. Trading 54,900 shares, Radisson moved up 2 cents to 33 cents .
From the same part of the province, Rouyn Mining Resources, which has a 50% interest in the producing Francoeur gold mine, reports it has arranged a $2 million bank facility. The company will use the funds to help pay its share of project development costs at Francoeur; Rouyn and project partner LAC Minerals have been sinking a second shaft on the property. Rouyn gained 30 cents to $1.70 on 19,400 shares, with LAC trading 314,100 shares but slipping 13 cents to $11.
Armistice Resources has two drill rigs working underground at its gold project at Virginiatown, Ont., as the company continues its deep-drilling program on property next to the old Kerr Addison mine. Armistice dropped 4 cents to 51 cents with 61,700 shares changing hands.
Projecting total output of about 190,000 oz gold for 1989, Cambior Inc. reports it is continuing to drill at the Gold Cliff gold project southeast of Sacramento, Calif. The company has a 50% interest in the project and is the operator. Trading 101,300 shares, Cambior climbed 63 cents to $12.50.
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