Wednesday close, Nov 19
Some dandy drill results from the Casa Berardi joint venture of Gold en Knight Resources and Inco — long anticipated by the market — were announced this week and it seemed to perk up action on other companies in the area.
Golden Group, a partner in the other major discovery in the area, traded 341,000 shares and was the most active of mining issues on the Montreal Exchange as it gained 32 cents to close at $1.95.
Golden Group is one of the many companies associated with Bruce MacDonald, a Vancouver- based mining promoter. Another is Golden Triangle, just formed this year. It traded 315,500 shares and moved up a nickel to close at $1.20.
Abcourt Mines was down a penny at 90 cents on 165,500 shares. It recently released its 1986 annual report showing net earnings of $186,000 on revenue of about $3 million from its zinc-silver mine north of Val d’Or, Que.
Cambior was unchanged at $14.12 on 311,900 shares. Recent drilling on its half-owned Doyon gold mine, operated by Lac Minerals, returned some good results with major tonnage implications.”
Yorbeau Resources was up two cents to 67 cents on 58,800 shares. Underground exploration and surface drilling have confirmed four gold-bearing shoots on its Astoria property. The company expects to complete a feasibility study on the project early in 1987. Look for that to be complete by March — right after all the flow-through shares have been released.
Vior moved up 13 cents to close at $1.58 on 149,700 shares while Wrightbar closed down 4 cents at $1.80 on 116,300. Belmoral Mines picked up 40 cents to close at $3.20 on 128,000 shares. MSV Resources, formerly Massval Resources, came off 22 cents to close at 95 cents on 20,000 shares.