I have been buying The Northern Miner off the shelf for many years. It now seems to me that you are disappointing many of your readers by failing to report on big changes in some mining companies. For example, what happened to Indochina and Armada Gold Mines? I read in The Globe and Mail that Black Sea Resources is now Ivanhoe Energy. Have Indochina and Armada amalgamated to form Ivanhoe Minerals?
You fail to report on some dead issues that came to life with huge volume and price increases — for example, Strike Minerals. This company did not trade at all for many months in 1997-98. Earlier this year, it was trading thinly at 5 cents, then in March it zoomed to 50 cents on heavy volume — 200,000 shares a day a few times. Then it stopped trading at all for two weeks, and now it’s trading again. What gives?
Or what is going on at Golden Hope? It seldom traded for years; bid was 10 cents, ask: 15 cents. Now it’s 50 cents with heavy volume, and you have no reports on the cause of this activity.
John Dee,
Toronto, Ont.
Armada is under a cease trade order from the Ontario Securities Commission, which came down at the end of June. The company had failed to file reports required under the Securities Act. That order was continued by the OSC in a hearing in July, and will remain in force until Armada complies with the reporting requirements of the Act.
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