Montreal Exchange (December 30, 1991)

The holiday season buoyed investors, who turned out in strong numbers during the period ended Dec. 23. Daily trading volumes ranged between 4.2 million and 10.9 million during the four days, driving the market upwards. The market portfolio gained almost 32 points and the mining and minerals index was ahead by more than 27 points.

Preliminary figures released by the ME indicate a 18% increase in total value of stock traded in 1991 compared with last year. (The total Canadian market grew by 7%.). The market portfolio was up on the year by more than 2%; the mining and minerals index dropped by 4.4%.

Top volume trader among resource issues during the report period was Aur Resources, which closed unchanged at $2.50 on more than 600,000 shares. Tenders for the sinking of two shafts at the Louvicourt base metal property northeast of Val d’Or, Que., were recently announced by Aur and its project partner, Societe Miniere Louvem, which gained 13 cents to $3 on a volume of 45,500.

Coleraine Mining Resources, which announced a property option deal with Noranda Exploration, climbed 3 cents to 11 cents with 93,000 shares changing hands. Noranda acquired the right to earn a 51% interest on a zinc property near Thetford Mines, Que.

Shareholders of four companies associated with St. Genevieve Resources gave their approval for an amalgamation. The amalgamation, still subject to regulatory approval, will see Bay Resources and Services, Duverny Exploration, Monique Exploration and St. Genevieve Explorations (1991) join to become SEG Exploration in the new year. Duverny was 4 cents bid, 6 cents ask and Monique was 6 cents bid, 8 cents ask on the week. St. Genevieve Resources slipped by 8 cents to 32 cents on 147,600 shares.

Radisson Mining Resources came up with some exploration funding when Crown corporation Soquem agreed to purchase some of the junior’s shares, with an option to acquire additional shares. Radisson gained a penny to 15 cents on 70,100 shares.