Montreal Exchange Mining issues shine (November 13, 1989)

A couple of associated companies, Agnico-Eagle Mines and Dumagami Mines, report their respective boards of directors have voted in favor of a merger. Dumagami shareholders, to receive 1.7 Agnico-Eagle shares for one Dumagami share, will meet Dec 19 to decide on the issue. Trading 59,200 shares, Agnico gained 88 cents to $10.63, while Dumagami jumped $1.63 to $16.63 on a volume of 25,200.

St. Genevieve Resources is interested in earning a 50% interest in the southern half of the Bourlamaque property of Wrightbar Mines. The property, in the Val d’Or, Que., area, is considered to have base metal potential. St. Genevieve, which climbed 11 cents to $2.16 on 205,700 shares, is proposing spending $1.5 million on exploration work during a 2-year period. Wrightbar, which traded 186,000 shares, rose 3 cents to 45 cents .

On the corporate side of the Aur- Louvem base metal discovery in Louvicourt Twp. near Val d’Or, Noranda Inc. reports it has increased its holdings in Societe Miniere Louvem to 17% through open- market purchases. Trading 77,600 shares, Noranda slipped 50 cents to $24.38, while Louvem moved up 88 cents to $8.25 on a volume of 422,700. Meanwhile, associated companies Cominco Ltd. and Teck Corp. have a combined 20.8% interest in Aur Resources. Cominco gained 50 cents to $27.13 on 17,500 shares, Teck B rose $1.88 to $25.88 on 709,600 shares and Aur jumped $1.38 to $13.13 with 100,700 shares changing hands.

In the area of the Aur-Louvem find, small gold producer Aurizon Mines is drilling the Connell Corner property to test the base metal potential there. Trading 84,800 shares, Aurizon closed unchanged at 47 cents .

Exploration Aumisko, which dropped 2 cents to 20 cents on 10,000 shares, is proposing a share consolidation and name change. Two A shares would be swapped for one new share and the company would become known as Ressources Granisko.

The Matagami, Que., area has attracted Orient Resources, which has acquired 15 claims in Grevet Twp. and will explore for zinc mineralization. Orient moved up 1 cents to 41 cents on 14,000 shares.

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