Montreal Exchange Mining issues gain (April 09, 1990)

Light-to-moderate volume and mixed trading marked the week ended April 3. The mining and minerals index gained 14.6 points, while the general market portfolio index fell by 8.4 points. Daily volumes ranged from 2.8 million to 5.6 million shares. Radisson Mining Resources, which was hoping to make a production decision this year for its Duquesne gold mine project, north of Rouyn-Noranda, Que., has uncovered a new mineralized zone which it says might be the mine’s east extension. Further drilling is planned to boost the property’s reserves. Trading 22,400 shares, Radisson closed unchanged at 47 cents.

Reaching an agreement with Aur Resources to earn up to a 49% interest in Aur’s Ducros gold-base metal property five miles southeast of Val d’Or, Que., was Exploration Rogi. Rogi must spend $1.5 million during a 3-year period to earn the full interest. Closing unchanged at 17 cents, Rogi traded 69,000 shares. Aur, already active northeast of Val d’Or at its large joint venture Louvicourt Twp. base metal play, gained 25 cents to $9.88 on a volume of 6,500.

Set to explore the P-T gold-base metal property in Quebec’s Eastern Twps. belonging to Scintilore Explorations is St. Genevieve Resources (through a wholly owned subsidiary). St. Genevieve may earn a 50% interest in the property by spending $1 million before April 1, 1993. St. Genevieve, which slipped 23 cents to $1.31 with 83,200 shares changing hands, has also agreed to purchase shares in Scintilore by way of a private placement.

Amberquest Resources has entered into an option agreement to earn up to a 50% interest in 72 claims in Northumberland Cty., N.B. Attracted by the economic potential of a manganese showing, Amberquest jumped 29 cents to 32 cents on 114,000 shares.

Volume leader on the week with almost 460,000 shares changing hands was Societe d’Exploration Miniere Vior. The junior, involved in a gold exploration play in Quebec’s Casa Berardi region, dropped 3 cents to $1.25.

Trading 10,000 shares and moving up 1 cents to 14 cents was Mono Gold Mines, which has decided not to proceed with a private placement of 400,000 shares involving four directors.