Alberta Stock Exchange (January 06, 1992)

A quiet holiday week followed a difficult year for mining stocks on the exchange. None of the issues saw more than 100,000 shares change hands for the week ended Dec. 30., while most traded less than 50,000.

During the last two months of the year, Goldhunter Explorations dominated the trading scene. The junior explorer, which holds claims adjacent to the hot Fort Knox base metal play near Shining Tree, Ont., gained 3 cents to close at 25 cents. The year-end closing price represents a substantial gain for investors who held the stock in the 10 cents range before Fort Knox’s nickel-copper discovery, but pales beside the 56 cents high reached in mid-December.

Another issue which consistently made the most active list during 1991 is Savanna Resources. The company, 12%-owned by American Chromium, has a majority interest in the Turner-Albright polymetallic prospect in Josephine Cty., Oreg. The prospect, which has undergone intensive exploration and feasibility work during the past few years, hosts preliminary reserves of 3.6 million tons grading 1.46% copper, 3.33% zinc and 0.44 oz. silver and 0.11 oz. gold per ton. Savanna closed unchanged at 24 cents.

AquaGold Resources, which was 25 cents bid and ask, is the subject of a reverse takeover by aggregate producer Municipal Capital. The company plans to put its Glen Morrison limestone deposit in Nova Scotia into production by September.