Montreal Exchange Graphite gets attention

Mixed trading during the report period resulted in the market portfolio index staying unchanged but the mining and minerals index gaining more than 29 pts. Daily trading volumes ranged from 4.4 million shares to 7.5 million shares.

Still with graphite, Stratmin Inc., recently concluding a $14.5-million financing with a bank for its Quebec project at St-Aime-du-Lac des Iles, will proceed to construct a mill at the property. Stratmin, which slipped 9 cents to $1.15 on a volume of 108,700 shares, went into production this month, the company having already rented the Asbury mill facilities on a long-term basis to process a portion of its graphitic material.

Newly listed VSM Exploration, which closed unchanged at 57 cents on 251,400 shares, announced early results from drilling on the Grevet M property northeast of Quevillon, Que., indicate the presence of zinc, copper, lead and silver. VSM is exploring the property under an option agreement with Serem- Quebec.

VSM’s parent, MSV Resources, has elected not to pursue exploration work on the Westmain, Clearwater and Lichteneger properties. Insufficient funds were raised for the work and the company has chosen to allocate that money, raised through a partnership offering, for exploration of the Eastmain property in northern Quebec. MSV closed unchanged at $1.05 on 22,300 shares.

Encouraging underground drilling values continue to be reported by Western Quebec Mines, Messeguay Mines and Oasis Resources from the Joubi gold project at Val d’Or, Que. Western Quebec was $1.05 bid, $1.25 ask during the week, Messeguay traded 248,100 shares and climbed 5 cents to 28 cents , while Oasis closed unchanged at 16 cents on 67,600 shares.

]]>