Unlisted Trading (August 19, 1991)

Exploration programs in Manitoba and Mexico helped the share value of Canmine Resources to rebound recently. The company’s stock was in a low-high range of 17-21 cents and 40,000 shares changed hands for the week ended Aug. 13, compared with 30,000 shares in the 15-20-cent range a week ago.

Currently, Canmine is conducting geochemical and geophysical surveys at the Fer property, north of the Flin Flon area in Manitoba. Later this month, company geologists will travel to Mexico to survey the width and length of the San Antonio silver vein, says President Ted Ellwood. As well, Canmine plans to drill a 500-ft. hole at the Rose nickel property, near Flin Flon, later this year.

“The market is starting to recognize the potential of our projects,” says Ellwood. “We are one of the few exploration companies that have remained active during this recession.”

The report period’s most active issue was Mountain Beaver Resources, which traded in the range of 40-75 cents on 369,850 shares, compared with 28,500 shares last week. President Harvey Tremblay attributed the flurry of activity to the company’s plans to further drill its base metal deposit at Amos, Que., later this year.