Near Rouyn-Noranda, Que., Mobrun partners Audrey Resources and Minnova Inc. are back in business with a new 1,100-ton-per-day mill to serve their polymetallic mine. Trading 156,500 shares, Audrey dropped 14 cents to $3.40, while Minnova sl ipped 50 cents to $18 on a slim volume of 5,400. Audrey recently closed a $22-mil lion public issue.
Also among the week’s volume leaders were associated companies Coleraine Mining Resources and Exploration Orex, the former exploring a chromite-platinum-nicke l prospect in the Eastern Twps. area of Quebec, and the latter working on the Go ldboro gold property in Nova Scotia. Trading more than 700,000 shares, Coleraine dropped 11 cents to 60 cents . Orex, with a booth display at the recent Quebec Pro spectors Association convention in Rouyn-Noranda, fell 54 cents to $1.87 on a vol ume of almost 600,000 shares.
VSM Exploration is hoping in the near future to be able to announce reserves of 5 million tons at the Grevet M zinc-copper-silver property near Mata gami, Que. , where a drilling program continues. VSM’s project partner is French company Se rem-Quebec. Trading 179,600 shares, VSM climbed 8 cents to 93 cents .
A shareholder in Dumagami Mines continues to oppose a merger of his company with Agnico-Eagle Mines; Jacques Forget of Montreal thinks Dumagami shareholders s hould receive more Agnico shares than is being proposed. The boards of both comp anies have approved the merger. Dumagami jumped 63 cents to $14.75 on 13,000 shar es, while Agnico was down 13 cents to $9.25 with 18,000 shares changing hands.
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