Vancouver Stock Exchange Rampart leads the pack on volume

Wednesday close, Sept 24

Rumours of a platinum discovery near Schefferville, Quebec, helped two issues advance. Tandem Resources and Ronrico Explorations, which each hold a 10% interest in a private syndicate holding the property, added 30 cents trading in the $1.70 and $1.20 range respectively. However, no assays have been released and exploration is at an early stage.

News of a strong gold intersection on property held by Rampart Resources in the Pangis Batchawana area of Ontario, helped the issue churn through more than 1.5 million shares this week. The common stock traded over 62 cents while the warrant passed 20 cents . Rampart has the right to earn a 100% interest in the ground from Ontex Resources.

An increase in reserves at the Mishibishu project in which Windarra Minerals holds a 25% stake, failed to help the issue. It continued in the 90 cents -range. The property is located west of Wawa, Ont. Flanagan McAdam Resources and Muscocho Explorations have carried out a large surface and underground exploration program on the property.

Golden Shield Resources had a strong week as it closed in on the $3 mark. At the beginning of the month, the issue traded around $1.70. The buying spree was ignited by a report that partner Newmont Exploration has come up with some high grade gold values on the companies property in Hoblitzell Twp., Ont. The ground protects an extension of the Casa Berardi trend which strikes into Ontario from Quebec.

Consolidated Sea Gold was a bit perkier, adding a few pennies to 52 cents . The company controls some ground adjacent to the Mascot gold mine, being developed near Hedley, B.C. A diamond drilling program on the Sea Gold claims is in progress. Lockwood Petroleum failed to move on news that Echo Bay is planning to go underground on the Cameron Lake, Ont. gold property shared with Nuinsco Resources. Despite failing to contribute to its share of costs, Lockwood still has a 32% stake in the project.

Goliath Gold Mines and Golden Sceptre Resources, the two juniors that won big at Hemlo, traded sideways in the $12.88 and $12.25 range respectively. They both must wait until Noranda, operator of the Golden Giant mine at Hemlo, gets back its original capital investment before sharing in the revenues from the highly profitable mine. However, as reported in The Northern Miner last week, Noranda’s reorganization could lead to a Hemlo public company. If that happened, a public placement would result in Noranda getting its capital investment back much sooner and Goliath and Golden Sceptre starting to get their share of the net profits from the mine.

Talk on the street is that Noranda is having serious discussions on the plan with European merchant bankers — all eager to get a piece of Hemlo.