Alberta Stock Exchange Monk gains 12 cents

After almost doubling in price since the week before Christmas, Monk Gold & Resources moved up another 12 cents during the week ended Jan. 21 to close at a 52-week high of 57 cents.

The company has extended a ramp into its gold prospect near Wawa, Ont., and has been negotiating to purchase the nearby Citadel mill since mid-1991. Contacted by The Northern Miner, President Bill Monk said the Monk mine will “definitely reopen” in the near future, employing about 30 people from the Wawa area.

Another active trader in recent weeks has been Bitech, which gained 7 cents this week to close at 17 cents. Bitech controls nine miles of ground along the Baie Verte Peninsula in Newfoundland, where NovaGold Resources plans to introduce vat-leach technology to some of the regional gold deposits. At Bitech’s Tache property near Chibougamau, Que., Teck is actively exploring for base and precious metals.

Shedding 5 cents to 15 cents, Glencairn Explorations plans to resume drilling on its Goodfish gold property in Kirkland Lake, Ont., by the end of the month. Previous intersections include 36.5 ft. grading 0.33 oz. gold per ton. Golden Rule Resources has transferred its 50% interest in three Quebec properties — Dubuisson, Senneville/Lac Blouin South and Cadillac — to Northern Abitibi Mining. Northern Abitibi jumped 8 cents to 20 cents on thin volume.