Alberta Stock Exchange Investors like Argus

It’s two weeks now since Argus Resources revealed its massive sulphide discovery near Contwoyto Lake in the Northwest Territories, but the Argus issue is still attracting considerable investor interest.

Trading on a volume of 206,900 — the week’s second highest — Argus gained 14 cents to close at 69 cents . Investors are responding to reports of a new gold zone on Argus property containing gold values in excess of 1 oz per ton across 4 ft to 5 ft.

Much of that interest has been stimulated by the proximity of the Argus discovery to Echo Bay’s Lupin mine where the geology appears to be similar. Elsewhere in Alberta, however, volumes were generally low and minus signs far outweighed the plus signs.

Subject to shareholder approval, Monte Carlo Gold said it will amalgamate with three companies including its wholly-owned subsidiary, Kidd Resources (British Columbia) Ltd., in a one-for-one share exchange deal.

The other companies included in the amalgamation are an unnamed British Columbia firm and Kidd Resources Ltd.

However, this amalgamation news did little for the Monte Carlo issue, it was down 49 cents on 59,700 shares traded to close at $1.45.

While Del Rio Resources has acquired a 50% interest in Calgary- based Matex Resource Technologies, the issue dropped 24 cents to close at $4.50 on a volume of 43,100 shares traded.

Del Rio says Matex is a leader in the development of polymer-based chemistry for environmental treatment of drilling fluids in the oil fields.

The Ekaton Energy issue remained steady on news that the company has completed drilling and coring programs at its Wood Mtn. Kaolin project in Saskatchewan.

Trading on 17,200 shares it closed at 70 cents . According to Ekaton, some 6,700 ft of drilling has produced encouraging results in an area selected for mining Kaolin for the company’s pilot plant.

Ontex Resources says it plans to make a normal course issuer bid to acquire up to 171,000 of its common shares before March 1988. But the Ontex issue dropped 14 cents on a volume of 98,500 to close at $1.85