Montreal Exchange (January 06, 1992)

Daily trading volumes plummeted during the holiday-shortened week ended Dec. 30, but both the general market portfolio index and the mining and minerals index soared. The former gained 51.6 points and the latter 67.4 points in a year-end rally. Volumes ranged between 2.1 million and 3.5 million shares.

From Vancouver, Aurizon Mines reported entering into a private placement (subject to regulatory approval) with Aurex Resources to boost its shareholding in the junior and also has renegotiated its option agreement with Aurex on the Connell Corner copper-gold property in Louvicourt Twp. near Val d’Or, Que. Trading 19,800 shares, Aurizon slipped by 3 cents to 22 cents. Through the deal, Aurizon will increase its ownership in Aurex (formerly Ezekiel Explorations) to 60%.

A $5-million rights offering was deferred by Northgate Exploration pending final regulatory approval. Northgate, trading a slim 500 shares, closed unchanged at 90 cents.

One of Northgate’s affiliated companies, Campbell Resources, recently reorganized wholly owned Meston Resources, which has become the sole owner (a second company was involved) of Campbell’s mining assets and mills at Chibougamau, Que. Campbell, which dropped 3 cents to 46 cents on a volume of 3,000, plans to spend $10 million to extend the shaft at Meston’s Joe Mann gold-copper mine southwest of Chibougamau to 2,700 ft.

A 4-hole drill program at the Porcupine gold property near Rouyn-Noranda, Que., has prompted project partners Cambior and Ressources Kimex to undertake a “preliminary economic evaluation” of the project, whose Double-Strike showing was explored previously. Trading 15,800 shares, Cambior gained 13 cents to $8.75. Kimex was off by 2 cents to 16 cents with 28,000 shares changing hands.