Toronto Stock Exchange The bull took a breather, and just trotted

The bull took a breather from its recent galloping pace and just casually trotted around this week. The composite netted a gain of 26.64 this week to move ahead to 3,620.1 pts. Golds lost some of their gleam over the week but managed to move ahead 22.36 pts. The price of the yellow metal held fairly steady over the week with a close on the Montreal spot market today of $406.50(US)-bid $407.50(US)-ask. Metals and minerals suffered a 25.65 drop to settle at 2,498.47.

It seems that mining lawyers must be the busiest people around these days. In lawsuit news, Murray Pezim’s lawyers have until March 20 to file their arguments against International Corona. And March 27 is the date by which Corona lawyers must file their counter arguments. Mr Pezim and his flagship company Galveston Resources are challenging Corona’s acquisition of a control block of Lacana Mining.

Meanwhile, Lacana has purchased from Royex Gold Mining, which is 49% owned by Corona, a 51% interest in Mascot Gold Mines for $150 million. And as for Royex, it plans to raise its stake in Corona to 51% from 40%

While Royex was up a penny this week to close at $1.13, Mascot traded up 50 cents to $15.88, while Galveston dropped $1.50 to $21.75.

Corona is still waiting to hear the resolution of its lawsuit with Lac Minerals over the ownership of the Page-Willaims Hemlo mine. It’s been over three months since the arguments were presented to the Ontario Court of Appeal. Judging by market action, investors are split on the outcome. Corona ended the week, $1 ahead at $41.50, while Lac closed at $40 after a gain of $1.25.

Teck Corp. B shares have been moving up at a steady clip lately. Over the week these shares won $1.88 for a close of $31.63. Teck is 50% partner with Corona in the Hemlo David Bell mine and stands to gain 50% of the Page-Williams mine should the final court decision be in Corona’s favour.

Also in the Hemlo camp, Hemlo Gold Mines traded unchanged at $23.13 over the week. Noranda Inc. was up $1.25 to $29.75.

Golden Knight Resources in which Teck holds a 30% stake netted a 12 cents gain this week to close at $17.75. Its partner in the Casa Berardi Golden Pond project, Inco Ltd. traded a heavy volume this week for a loss of 63 cents . A decision is expected to come down any time now on the Golden Pond East project.

Consolidated Professor caused some market waves this week with a gain of 40 cents to new high at $2.25. Early results from drilling at its Duport gold property at Shoal Lake, near Kenora, Ont. are encouraging. Underground drilling has outlined a particularly high grade section of the East zone, previously intersected by the access decline in 1984.

Over at Montreal-listed North American Rare Metals property in Vezza Twp., Que., Hole No A-25 has intersected 16.4 ft of 0.21 oz gold per ton including a 9.78 ft section of 0.32 oz. Partner in this project is Dundee-Palliser Resources which traded up a nickel to close at 91 cents this week.

For the second week running Dome Mines is this week’s most active trader with a gain of 37 cents to $15. This is an improvement of nearly $5 since the beginning of the year.

Nickel-miner Falconbridge Ltd. fared well over the week with a gain of 50 cents to $19.75.