Montreal Exchange (July 17, 1989)

On the week, both the market portfolio and mining and minerals index closed higher, the former gaining about 33.5 pts and the latter about 11.5 pts. Daily trading volumes were relatively strong, ranging between 5.7 million and 7.7 million shares.

Claims situated northeast of the Aur-Louvem find, in Pascalis and Vauquelin twps., are being optioned (subject to regulatory approval) by Exploration Rogi to Globex Mining Enterprises and Fairfield Explorations. The two companies may earn a combined 75% interest in the property from Rogi, which slipped 1 cents to 13 cents with 37,500 shares changing hands. Globex moved up 5 cents to 70 cents on 10,000 shares, while Fairfield closed the week at 12 cents bid-16 cents ask.

Radisson Mining Resources plans a rights offering to its shareholders worth a maximum $1.5 million. Proceeds will be used for exploration work on the Duquesne gold property near Rouyn-Noranda, Que., which the company is preparing for possible production. Trading 85,400 shares, Radisson jumped 10 cents to 45 cents .

Shareholders of Lynx-Canada Explorations recently approved a consolidation plan on a one-for- 25-share basis. They also voted in favor of an amalgamation with CS Resources and the sale of all of Lynx-Canada’s mining assets. Lynx- Canada closed unchanged at 12 cents on 400 shares.

Among the week’s leaders, with 991,100 shares changing hands, was Exploration Orex, which is exploring the Goldboro gold property in Nova Scotia. Orex, which gained 33 cents to $1.72, is buying out its exploration par tner on the project, TSE- listed Onitap Resources.

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