Unlisted Trading (August 05, 1991)

Preparing for a listing on The Toronto Stock Exchange, CanQuest Resources traded heavily for the week ended July 30. On a volume of 217,500 shares, the Vancouver-based junior picked up a nickel to close at 45 cents.

CanQuest hopes to raise $1 million to finance exploration on its base and precious metal properties in south-central British Columbia, including the Cottonbelt lead-zinc-silver prospect northwest of Revelstoke. Canmine Resources reports that it has acquired a 100% interest in eight claims, known as the FER property, north of Flin Flon, Man. The property contains three known zones of polymetallic mineralization to maximum depths of 100 ft. Canmine, which is currently preparing for a 4,000-ft. drilling program on the claims, closed unchanged at 15 cents.

Recent trading activity has prompted Regal Goldfields to issue an explanatory press release. The Toronto-based company, which has rights to a diamond property near Kirkland Lake, Ont., says it is negotiating with several interested parties regarding a private placement of 500,000 flow-through common shares priced at $2 each. Regal closed at $1.60, up 25 cents from last week.