Montreal Stock Exchange Cambior still climbing

Wednesday close, Sept 24

What was a little-known group of assets owned by the Quebec government just months ago is fast becoming one of Quebec’s premier gold issues.

This week Cambior was, once again, the most active issue on the Montreal Exchange. Its popularity is a function of higher gold prices and a growing awareness of the young company’s attributes. Cambior was the provincial government’s first stab at selling off some of its assets to the public and it looks as though it made this first effort a bargain in order for it to succeed,

Cambior units were up 25 cents on the week to close at $14 after touching a year high of $14.38 on 434,000 units traded. The units only came on the market during the past summer after being sold at $10.

Vior moved up again this week picking up 7 cents to $1.39 on 147,800 shares. The company has several good prospects in some good, new areas of Quebec, but this latest strength in the stock price appears to come from results in the Casa Berardi area. Inco, operator on the property, is said to have pulled a 500-ft section of mineralization on the Douay Twp. property.

Picking up 4 cents was Massval Resources. This once sleepy company could come back to life now that Somicom Management has taken it under its wing. Somicom has agreements with Placer and Westmin Resources to acquire some properties in the James Bay area and plans to put those properties in Massval’s portfolio. Massval closed at 21 cents on 12,700 shares.

Cogesco, also under Somicom’s management, lost 4 cents to close at 62 cents on 108,000 shares.