Alberta Stock Exchange Baslen moves up

News that gold was selling at around $395(US) per oz may have had an impact on the International Baslen issue which added 12 cents to its share price.

With financing in place, Baslen has commenced drilling at its Val d’Or, Que., gold property. This is the initial phase of an extensive drill program designed to test the many structures identified on the property, Baslen said. With 297,800 shares crossing the floor, Baslen closed at 59 cents .

The Monte Carlo Gold issue was ahead 10 cents on a volume of 96,500 before closing at 48 cents . Monte Carlo is involved in exploration at its Aruba Island gold project in the Carribean.

Zahavy Mines and Zenmac Exploration also showed significant progress as they gained 20 cents and 35 cents respectively. While there were no apparent reasons for the increase, Zahavy is involved in exploration in the Favourable Lake area of northwestern Ontario.

Zenmac is involved in a legal dispute with operator Minnova Inc. over the Winston Lake copper-zinc mine near Thunder Bay, Ont.

Buoyed by exploration at the Nugget Pond gold project in Newfoundland’s northern coastline, Bitech Energy was once again a big trader. With over 700,000 shares changing hands, Bitech was up 2 cents to close at $1.98.

Trading of the Varna Gold issue is scheduled to resume following an injunction of a British Columbia Supreme Court. A halt trading order was issued back on Dec 14 after the company failed to file its financial statements on time.

The company says it has been able to prevent alleged illegal trading of its stock and that a number of the company’s Newfoundland properties are now in good standing. Exceptions are the Huxter’s Pond and Jackson’s Arm joint ventures with B.P. Mining.

Toronto-based RJK Mineral Corp. says it has arranged an agreement with NIM and Co. Ltd. Partnership to incur Canadian Exploration Expenditures of $1 million.

The company says it will issue the equivalent of $1 million in shares divided by the average closing sale price of the Class B subordinated voting shares for a 20-day trading period, or $2.20 per share depending on the date of closing The bid on the RJK Minerals B shares was $2.10 and the ask $2.35.

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