Montreal Exchange MSV among movers

Gains early in the week gave way to negative values on the Montreal Exchange, where light trading volumes continue to be the order of the day. The mining and minerals index managed to close ahead on the week.

One junior-mining stock which appears to be popular with investors is MSV Resources A, which traded 220,000 shares and closed down 4 cents to $3.10. The company announces it has bought, via the market, another 2% interest in Nova-Cogesco Resources, boosting its holding to 14% in that firm, which moved up 15 cents to $2.50 on a volume of 69,000. Msv is close to earning a 49% interest in the Eastmain gold prospect, located east of James Bay, from Placer Dome, which jumped $1.38 to $16.13 on a respectable 540,000 shares.

Messeguay Mines, which slipped 4 cents to 33 cents with 18,600 shares changing hands, reports encouraging exploratory results from the Launay property situated about 25 miles northeast of Rouyn-Noranda, Que. Discovery of gold mineralization on the property dates back to the 1930s.

Trading 575,600 shares and gaining 4 cents on the week to 21 cents was Mon- Dor Explorations, which among other projects has been exploring for gold on the Weir property in Quebec’s Gaspe region and on the Dalquier property near Amos, Que.

Morono Mines reports it has commenced an exploration program on two properties in northwestern Quebec, one of which is the Verneuil gold prospect where six drilling crews are at work. Morono traded 8,000 shares on the week and moved up 5 cents to 70 cents .

Abitibi Metal Mines, which gained 5 cents to 18 cents on a healthy volume of 773,600, has high hopes for a low grade, six-claim gold property north of Malartic, Que., which is undergoing a re-evaluation. A heap- leaching operation for the property has been proposed.

Entering into a finance agreement with Sofimines 1987 and Co. Ltd. Partnership, for a subscription of flow-through shares worth a minimum of $559,200 and a maximum of $5 million, was Cache d’Or Resources, which was up 2 cents to 22 cents on 175,100 shares.

Recently listed for trading on the me were Kimex Resources and Continental Precious Minerals.