Montreal Exchange Radisson rallies

A drill hole on Radisson Mining Ressources’ Douay Twp property in northwestern Quebec’s Casa Berardi area reversed a decline in the new issue that saw its stock price fall to as low as 30 cents .

This week the stock moved as high as 60 cents before closing at 49 cents , up a penny on the week.

The hole returned one section that graded 0.17 oz gold per ton over 7.7 ft with some encouraging geological information.

One of the most exciting issues on the market this week was MSV Resources. Now under the wing of Cogesco Resources, MSV has an option to earn a 50% in Placer Develoment’s Eastmain gold property in northwestern Quebec.

MSV was up 40 cents to close at cents 1.50 after touching $1.68 on 228,300 shares. Cogesco gained 4 cents on 74,800 to close at 75 cents .

The most active issue this week, however, was a $20 stock — Noranda Inc. Although President Adam Zimmerman was crying the blues after a softwood lumber settlement was reached between Canada and the U.S., the market seems to have taken the news just fine. Noranda’s stock was up $2.75 on 520,200 to close the week at $23.12.

Noranda owns 49% of giant forest products company MacMillan Bloedel of Vancouver as well as other forestry interests.

Abcourt Metals, in a move to diversify into gold, announced that it had reached three agreements that would give it control of Aunore Resources. Aunore is 65% owner of the old Peel-Elder mine property near Rouyn and Abcourt plans to put it into production in early 1988.

Abcourt was down 17 cents to $1.10 on the week after trading 279,800 shares. Aunore closed unchanged at $1.15 on 90,800 shares.

Standard Gold Mines jumped 25 cents on the week to close at 99 cents on 64,400 shares. It plans to conduct some limited production at its Duverny gold property near Amos, Que., and spend another $3 million to bring it to the production stage.

Chesbar Resources has intersected some good gold values in drilling from underground at the Murgold gold property in northeastern Ontario. The company has almost completed a ramp and will crosscut to the ore zone in February.

Chesbar was up 25 cents to $1.50 on 48,800 shares.

Belmoral Mines continues to get its house in order with an option, good for five months, to find a buyer for its controlling block of shares. It has also established ore reserves of 1.1 million tons grading 0.222 oz gold per ton from three mines.

Belmoral climbed 30 cents on 48,100 shares to close at $3.05.