Alberta Stock Exchange (December 09, 1991)

With three option agreements in hand, Goldhunter took off during the week ended Dec 3., gaining 20 cents to close at 46 cents.

Goldhunter, which holds property on the western and northern boundaries of the Fort Knox base metal play near Shining Tree, Ont., quickly optioned three separate claim blocks in exchange for cash, stock and exploration expenditures. But rumor has it that a buying spree by longtime promoter Murray Pezim had more to do with the stock escalation than Goldhunter’s new deals. Fort Knox has two drills turning on its Fawcett Twp. property. Varna Gold gained a penny to close at 11 cents after Newfoundland Goldbar intersected encouraging gold values on Varna’s Glover Island property in western Newfoundland. Results included a 57.8-ft. interval grading 0.15 oz. gold per ton.

Kingswood Explorations lost 2 cents to close at 13 cents before the company announced that the Quebec government’s Soquem had acquired an option on its Eastmain River property in northern Quebec. By paying Kingswood $10,000 and spending $140,000 on exploration, Soquem can earn a 50% interest in the property. Soquem has also taken an option on 500,000 shares of Kingswood at 25 cents per share.

At the Wang Nua alluvial project in Thailand, Bayaura Mines has outlined a preliminary reserve of 38,000 cubic metres averaging 1.67 grams gold per cubic metre. Bayaura estimates a pilot plant with a 15-cubic-metre capacity could be operated at a cost of US$8 per cubic metre and be paid off within four months of startup.

Bayaura shed 1 cents to close at 6 cents on thin volume.