Montreal Exchange Quiet trading pattern

A change of management at Ressources Maufort made the stock a popular issue; shares of the junior gained 2 cents to 9 cents on a volume of 515,900. President Maurice Fortin resigned, as did the board of directors; the new president is Paul Billette. A $5-million financing deal the company was negotiating recently fell through. Times have generally not been easy for junior-mining companies since the October, 1987, market collapse.

Radisson Mining Resources, aiming to place its Duquesne mine property near Rouyn-Noranda, Que., into production, is hoping to extract a bulk sample in January. An underground drilling program is testing the property’s North zone and the western extensions of the old mine. Trading 339,300 shares, Radisson jumped 15 cents to 51 cents .

A 5,000-ft drilling program is under way at its Edwards gold property northeast of Wawa, Ont., Spirit Lake Explorations reports. The company, whose stock dropped 4 cents to $1.95 on a volume of 44,500, is hoping to raise at least $1 million by way of a private placement.

Trading 393,700 shares and gaining 6 cents to $1.08 was Societe Miniere Sphinx, which is gearing up for a heap leach test involving 40,000 tons of low-grade surface material at its Duvay gold property near Amos, Que. The equipment has been installed and the material placed on the pad in anticipation of a spring, 1990, start-up.

Involved in a diamond property testing program in Arkansas is Continental Precious Minerals, which was $1.40 bid, $1.60 ask for the week. Continental says it is one of four companies allowed to participate or bid on any possible evaluation or development of the large diamond pipe, which it says has been valued as high as $5 billion.

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