Montreal Exchange Settlement at Faro

After a 10-week strike, Curragh Resources has reached an agreement with employees at the Faro lead-zinc mine in the Yukon. The deal calls for a 17.6% wage increase over three years as well as other pay provisions. Curragh gave up 88 cents for the week ended June 18 to close at $6.38 on thin volume.

The most active trader, LAC Minerals, along with partner Equinox Resources, has intersected a 178-ft. interval averaging 0.71 oz. gold per ton at the Rosebud property in Nevada. The intersection follows other encouraging holes from the high-grade prospect where reserves stand at 5.2 million tons grading 0.12 oz.

LAC picked up 25 cents to close at $9.13 on a volume of 528,600 shares.

In order to finance further exploration at the Grevet zinc-copper-silver property and other prospects in Quebec, Placer Dome has purchased an additional 1.4 million shares of VSM Exploration at $1.07 per share. The purchase increases Placer’s stake in the junior from 50.7% to 54%.

While Placer Dome was down 38 cents to $15.38 on 376,900 shares, VSM remained unchanged at 95 cents.

St. Genevieve Resources has reached an agreement in principle to acquire a 50% undivided interest in a group of mining claims in Clark Cty., Nev.

To earn the interest, the Quebec company must pay Pilot Plant, an American concern, US$200,000 and issue 100,000 of its shares. St. Genevieve will also contribute up to $50,000 to concentrate material from the claims.

Trading 457,400, St. Genevieve lost five cents to close at 82 cents.

Shareholders of Rouyn Mining Resources approved a change in the company name to Richmont Mines or Mines Richmont at a recent annual meeting. Rouyn, which shares the Francoeur gold mine with LAC, gained two cents to close at 63 cents on thin volume.