Montreal Exchange (November 04, 1991)

Trading volumes were steady but both the market portfolio and mining and minerals index experienced 15-point losses for the week ended Oct. 29. Daily volumes ranged between four million and 8.6 million shares.

Societe d’Exploration Miniere Vior benefited from a deal with Inco, which will see the junior increase the size of its property portfolio in Quebec in return for treasury shares. Trading almost 386,000 shares, Vior gained eight cents to 39 cents. Inco slipped by 25 cents to $36.63 on a volume of 169,300. In Chile, Placer Dome and TVX Gold recently officially inaugurated their 15,000-tonne-per-day processing plant at the La Coipa gold-silver mine. The facility cost US$220 million to build. Placer, trading 113,000 shares, was off by 50 cents to $13.63, while TVX, controlled by Inco, closed unchanged at $4.13 on 1,700 shares.

Near Timmins, Ont., Canamax said it has a definite agreement to sell its Bell Creek gold mine to Falconbridge Gold. Canamax, up a penny to 30 cents on 300 shares, expects to have the mine closed by mid-December, the closure in response to the weakened gold market. Falconbridge Gold closed unchanged at $2.38 with 2,600 shares changing hands.

East of Val d’Or, Que., Aur Resources and TSE-listed Beaufield Resources reported intersecting anomalous copper mineralization grading up to 0.5% copper over 3.3 ft. in a hole drilled on Beaufield’s Mainstreet property in Louvicourt Twp. Aur, which is earning a 60% interest in the property and which has other property interests within the township, was off by 25 cents to $3 on 57,000 shares.