News that Willingdon Resources will resume drilling at its Sioux Narrows property near Kenora, Ont., generated a flurry of trading activity. More than 1.2 million shares changed hands for the week ended May 7, at a low of 80 cents and a high of $1.85.
The best hole in last year’s program was 1.4 oz. gold per ton over 1 ft. The new program is designed to expand the discovery’s vertical and horizontal continuity. Its strike length is more than 700 ft. and it has been confirmed to a depth of 400 ft.
Recently Canmine Resources secured private placement financing worth $195,000 from World Venture Partners to develop its properties in Manitoba, Ontario and Quebec. The investment banking group, based in the British West Indies, has agreed to purchase 650,000 common shares (an 18.5% interest) of Canmine at 30 cents each. Canmine was 20 cents bid, 40 cents ask for the week.
Force Resources has convened a shareholders’ meeting July 19 to seek approval for a 5-for-1-share consolidation and a change of its name to International Force Resources Ltd. The changes will be subject to regulatory approval. Force was 5 cents bid, 15 cents ask.
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