Alberta Stock Exchange Valdez gains 14 cents

A recent upward trend in the price of gold bullion helped boost the shares of Valdez Gold 14 cents higher to the 44 cents level during the week ended Dec. 24. Valdez, an indirect wholly owned unit of TSE-listed MVP Capital, holds a 51% interest in one of the largest placer gold mines in Alaska. Operations were resumed at the project earlier this year. Ontex Resources fell 35 cents to $2.50 after the company won back control of the Brookbank gold property in northern Ontario from TSE-listed Metalore.

Biron Bay slid down 5 cents to 90 cents despite the fact that the company has recently boosted reserves above the one-million-ton mark on its Summit gold project in New Mexico.

Holmer Gold, which has been a quiet trader of late, rose 6 cents to 10 cents. The junior exploration firm owns a Timmins, Ont., area gold project that saw considerable exploration work performed by Chevron Minerals in the past few years.

Champion Bear rose 5 cents to $2.25. The company recently raised $800,000 for drilling on its wholly owned One Man Lake and Campbell North gold properties near Kenora, Ont.

Following the recent signing of a multimillion-dollar exploration agreement with Cyprus Gold, Gowest Amalgamated remained steady at the 18 cents level. Cyprus has taken an option to explore Gowest’s Tully Twp. gold property north of Timmins, Ont. Previous intersections from property have yielded results as high as 0.24 oz. gold per ton over 35.2 ft.

Kingswood Exploration moved up 2 cents to 14 cents during the report period. The company is drilling for base metals on a large group of claims it holds west of Matagami, Que.

Elsewhere in the base metals area, Savanna Resources gained 5 cents to 29 cents as investors await exploration results from two of Savanna’s main properties which have been farmed out to major mining companies.

Marshall Minerals rose 10 cents to $1.35 on moderate volume during the report period. Marshall recently signed a deal to lease its Carshaw mill near Timmins, Ont., to Timmins Nickel.