Montreal Exchange: Volume slackens

Investors shied away from the market during the holiday-shortened week ended April 17; daily trading volumes ranged between a puny 3.1 million and 5.2 million shares. Key indicators showed a negative bias, with the market portfolio off almost 32 points and the mining and minerals index down 49.6 points. Volume leader for the week was Ressources Val d’Or, which gained 1 cents to 17 cents on more than a half- million shares. Val d’Or is working on a deal to buy out its partner, Abcourt Mines, in the Bardome (Vendome) base metals project north of Val d’Or, Que. Trading 7,700 shares, Abcourt closed unchanged at 16 cents.

Northeast of the same city, Cache Explorations and Parquet Resources report more encouraging drill results from their Courville gold property. Cache recently entered into an agreement with an individual to purchase a 100% interest in 18 claims in same area. Trading 9,000 shares, Cache slipped 6 cents to 55 cents. Parquet closed unchanged at 16 cents with 28,900 shares changing hands.

Immediately to the west of the Cache-Parquet project, Lixor also reports encouraging results from a drilling program. The company’s shares were 36 cents bid, 39 cents ask for the week. Lixor is earning a 50% interest in the property from Billiton Resources Canada.

Exploration Mirandor says it has staked the Castagnier gold property in Vassal Twp. northeast of Amos, Que. The company is negotiating a financing plan. Trading 900 shares, Mirandor closed unchanged at 13 cents. An associated company of Mirandor, Exploration Brex, is busy exploring two properties in northwestern Ontario, Shoal Lake and Clytie Bay. Brex closed unchanged at 21 cents on 1,200 shares.

Recently completing a surface drilling program and underground work on the Granada property adjacent to the Astoria property near Rouyn-Noranda, Que., were Kewagama Gold Mines (Quebec) and Gold Vessel Resources. Kewagama was $1 bid, $1.15 ask for the week.