Goldhunter Explorations continued to ride on the coattails of Fort Knox Gold, the TSE-traded explorer that is breathing life into the beleaguered junior mining market.
Trading over one million shares during the week ended Nov. 5, Goldhunter added seven cents to close at 29 cents as Fort Knox prepared to head back to the bush for follow-up drilling.
In mid-October, Fort Knox announced encouraging nickel, zinc and copper assays from two separate mineralized zones in the Shining Tree area of northeastern Ontario. Goldhunter optioned 21 claims that tie on to the Fort Knox property.
The most active stock was American Ore, trading almost three million shares to gain a penny. But Ore President J.W. Owen attributed the activity to a straight transfer between major shareholders and said there were no material changes to report.
Trio Gold shed eight cents to 35 cents after the company announced results from a reverse circulation drill program on its wholly owned Rodeo Creek property in Nevada. The best results include a 90-ft. interval grading 0.045 oz. gold per ton and a 20-ft. interval grading 0.12 oz.
Shedding eight cents to five cents, Reed Lake Exploration said it will seek shareholder approval for a 2-for-1 stock split at a meeting to be held at the end of the month. Reed is planning a rights offering to raise funds for work on the company’s properties.
Also planning a rights offering is Soocana Explorations. Soocana says it will use the proceeds to explore its Hawk Junction gold prospect, 18 km northeast of Wawa, Ont. Soocana was seven cents bid, 20 cents ask for the week.
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