Alberta Stock Exchange Golconda active (February 25, 1991)

During the report period ended Feb. 19, Goldconda Resources traded 530,100 shares to close up 24 cents at 45 cents. Earlier this month, the company acquired an option to earn a 100% interest in an Oregon gold property where drilling is planned to follow up some high-grade surface assays.

.TNaxos Resources and VSE-listed Toodoggone Gold have reached an agreement to continue exploration on their massive sulphide and gold prospect located in Chile. Toodoggone must spend US$120,000 by May 31 to earn a 50% interest in the claims. The property is also subject to a 10% net profits interest to the vendor. Naxos closed down 5 cents at 27 cents on volume of 46,500 shares.

Mill City Gold Mining was steady at 15 cents on thin volume after the company signed an agreement to purchase a license for distributing fibreglass designer furniture. The purchase arrangement is with British Columbia-based furniture company Jordan Pacific Industries. Mill City is completing a private placement for 1.5 million of its shares priced at 20 cents each in order to finance the deal. Upon completion of the agreement, Mill City will then be changing its name to reflect the nature of its new busine ss.

Kingswood Resources came back to life during the report period by gaining 8 cents to close at 20 cents on volume of 421,000 shares. Kingswood has a number of gold and base metal properties in the Eastmain, Val d’Or and Matagami areas of northern Quebec.

Savanna Resources rose another 2 cents to 72 cents as exploration drilling continues on the company’s Santa Rosa zinc property under option to Cyprus Metals near Lone Pine, Calif.

Shares of newly listed Golden Eagle Mines traded at 15 cents after being posted for trading during the report period. Golden Eagle has successfully completed a $150,000 initial public offering and plans to acquire interests in private or public mining companies as well as to evaluate mineral properties for potential acquisition. Cochise Resources, another new listing, plans to conduct exploration for gold in Cochise Cty., Ariz., and base metal exploration in the Eastmain region of northern Quebec.

Varna Gold traded 21,000 shares to close unchanged at 7 cents after the company announced some material changes including an intersection of 6.6 ft. grading 0.30 oz. gold per ton on its property in the Baie Verte area of Newfoundland.