Montreal Exchange Active staking area

The exciting nickel-copper exploration play in the Lac St. Jean area of Quebec has been attracting a number of juniors, including Achates Resources, which gained 1 cents to 15 cents on 23,700 shares, Freewest Resources, which closed unchanged at $1.45 on 75,500 shares, and Sphinx Mining, which slipped 9 cents to $1.60 on 80,900 shares. Ar least 20 publicly-traded companies are involved in staking the grounds.

Reporting the results of a bulk sample from the Elder gold property near Rouyn-Noranda, Que., were partners Aunore Resources, which traded 27,300 shares and climbed 2 cents to 25 cents , and TSE-listed Nova Beaucage Mines. The expected grade was achieved and the companies intend to proceed with a feasibility study on the construction of a 600-ton-per-day mill.

Eastern Mines, a heavy trader of late but which slowed to 31,100 shares during the week while closing unchanged at 6 cents , is to be amalgamated with three other Hughes- Lang companies, as that west-coast group re-organizes its extensive holdings. Eastern will join with Gallant Gold Mines, which traded 1,800 shares and moved down 1 cents to 5 cents , Standard Gold Mines, which traded 5,300 shares and dropped 1 cents to 8 cents , and VSE-listed Silver Sceptre Resources.

Two firms with graphite properties in Quebec, Mazarin Inc. and Stratmin Inc., were among the week’s volume leaders. Mazarin, which gained 4 cents to 59 cents on a volume of 690,800, has a 25-ton bulk sample in for metallurgical testing. Stratmin, already mining the black mineral at its property north of Montreal, dropped 1 cents to $1.23 on 257,800 shares.

In north-central British Columbia, Cheni Gold Mines recently reached commercial production at its gold-silver Lawyers mine. Cheni, which traded 4,500 shares while dropping 39 cents to $3.60, has a 550- ton-per-day mill on site.

]]>