Volumes, fuelled by a gold price which sailed past $417(US) per oz, returned to the Alberta Stock Exchange this week. One of the week’s best gainers was Citadel Gold Mines, which advanced more than a $1.15 to a high of $4.90. The company is involved with bringing a gold property near Wawa, Ont., to production.
Other companies controlling reserves were also stronger. Claude Resources, which has optioned its Seabee property east of La Ronge, Sask., to Placer Development, added 35 cents to $4.25. Twin Gold Mines, which was one of the best performers last week, continued unchanged at $2.25. The company controls the Lingman Lake deposit north of Red Lake, Ont.
Pan East Resources and controlling company Greenstrike Gold, were both easier, despite the improvement in gold prices. They closed at $1.85 and $1.70 respectively. Pan East is exploring a gold play near the Seabright Resources deposit in Nova Scotia.
Perrex Resources made some gains as it moved to 68 cents . The issue traded as high as 98 cents before settling back. The company is planning to spend $889,000 on three properties this year. The bulk of the funds will be going to the Harker-Holloway area north of Kirkland Lake, Ont.
Eden Roc Minerals came back to $2. The company remains busy with its Asupiri deposit in the Ivory Coast, Africa. This project, Eden Roc says, is approaching the production stage. Golden Star Resources gave up some ground, losing 43 cents to $2.40. The company’s Omai gold deposit in Guyana, South America, has been optioned by Placer Development.
Other stornger issues include Zahavy Mines; up 40 cents to $1.80 and Zenmac Exploration, which added 15 cents to $3.30. Both are involved with mine development projects.
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