Wednesday close, Sept. 3
Trading was inactive this week in Calgary with just 2,949,700 shares exchanged.
American Oakwood Energy was the most active issue, trading nearly 350,000 shares at 23 cents . The company has started drilling on a gold property in the Toodoggone area of British Columbia held jointly with Lacana Mining Corp and Montreal- listed Murphy Oil.
Beardmore area explorer Ontex Resources was also trading actively above the $3 mark for a 55 cents gain on the week. At the company’s annual meeting in Toronto this week a representative of the law firm Weir & Foulds told shareholders the legal action against Metalore Resources could take several years to settle.
Jedburgh Resources, which has 117 claims in Hart Twp. near Sudbury, was 10 cents better trading at 37 cents on 156,000 shares. And Northgane Minerals, which is developing a placer gold operation in Ecuador that is expected to produce 250 oz gold per month, traded at 70 cents , down 4 cents on the week.
Another Alberta-listed company that intends to produce gold outside the country is Golden Star Resources. This company has agreed to allow SNC Inc. of Montreal to construct and operate an open pit mine on its property in Guyana.
While the final feasibility study is not due until later this year, the mine reportedly has 2.7 million tons of reserves grading 0.07 oz gold per ton. SNC expects production costs would be just $8 a ton.
Today Golden Star traded at $1.45, up 14 cents on the week on 3,100 shares.
In yet another international project, Eden Roc Mineral Corp. announced this week it intends to do in fill drilling on a gold-bearing structure in the Republic of the Ivory Coast. The best results from six holes in the second phase of drilling just completed were 0.62 and 0.35 oz per ton over 6 ft.
Eden Roc traded at $1.10 on 35,000 shares.