Alberta Stock Exchange (December 23, 1991)

It has been a busy month for Kingswood Explorations (ASE), which optioned one of its properties, tendered most of the shares of a private exploration concern and is planning a drill program near Matheson, Ont.

With Kingswood hovering perilously close to 10 cents, a positive development from any of these ventures would be welcomed by shareholders. One of its most promising projects is Eastmain River in northern Quebec. Recently optioned to Soquem in return for $10,000 cash and $140,000 in exploration expenditures, the property lies 20 km north of the MSV/Northgate gold deposit. Samples of boulders found on the claims have returned assays of 0.15-0.46 oz. gold per ton.

Kingswood lost a penny to close at 12 cents for the week ended Dec. 17. Gateford Resources (ASE) traded close to 200,000 shares as the company announced a proposal to merge with its subsidiary, TSE-listed Landmark. Gateford, which closed unchanged at 8 cents, says a merger would reduce expenses and make it easier to raise financing.

To raise working capital and pay outstanding debt, Cradle Mountain Canada (ASE) has sold 1.06 million shares at 10 cents per share to directors and associates. While the company has dropped its option on the Susanville property in Oregon, Cradle Mountain says it is moving closer to a production decision on the 100% owned MacKay Lake property in Sas-

katchewan.

Cradle Mountain was 5 cents bid, 10 cents ask for the week.