Ontario Unlisted Regal on the move

Acquiring one land position and entering into a second agreement for another in northeastern Ontario was Regal Goldfields, which for the week ended March 26 closed at 80 cents, up by 20 cents, on a volume of 51,100 shares. The junior’s stock traded as high as $1 during the week. Regal announced that along with its consultant, James E. Tilsley & Associates, it acquired nine claims covering a kimberlite pipe (known as C-14) in Clifford, Arnold and Bisley twps. which was discovered in 1984-85 by gold producer LAC Minerals. Regal has a 90% interest in the project and Tilsley, 10%. The second transaction involved entering into an option deal to earn a 100% interest in base metal claims in the Larder Lake mining division.

Mount Wright Iron Mines said its judgment against a company in Spain controlled by Cominco Ltd., Exminesa, in the amount of $3.5 million was upheld by the Spanish court of appeals. The judgment represents royalties owing to Mount Wright for the period 1977-88 at the Rubiales mine. The company said it is owed additional royalties from 1988 onwards. Trading 2,000 shares, Mount Wright closed up by 15 cents to 25 cents.

Torogold Resources reported acquiring the interest of TBS Resource Corp. in a joint-venture agreement with Gold Fields Canadian Mining; the venture covers property in the Birch Lake area of northwestern Ontario. The property hosts the former producing Jason gold mine. Torogold last traded at 30 cents.

Maradona Resources said it plans to ask shareholders at its April 29 annual meeting for approval to change the corporate name to First Capital Corp. Maradona last traded at 50 cents.