Alberta Stock Exchange Golconda falls 34 cents

During the week ended April 16, shares of Golconda Resources fell 34 cents to close at 77 cents on volume of nearly one million shares after the company released mediocre assay results from the first eight reverse circulation holes on its Goldridge project in Oregon. The best assays received so far are 0.23 oz. gold per ton over 5 ft. The company said coarse visible gold was also observed in several 5-ft. intervals of drill cuttings. Monte Carlo Gold Mines traded 281,200 shares to close up 15 cents at 34 cents after the company signed a contract with Cantropic Resources to build a small heap leach gold facility on Monte Carlo’s property in Aruba. Cantropic will spend $750,000 to build the 200-ton-per-day facility in return for a 50% interest in the venture.

Durvada Resources recently announced the first assay results from a reverse circulation drill program on its Sandy Valley project in southwestern Nevada. Results as high as 0.85 oz. gold per ton over 5 ft. were reported. The program is testing for shallow gold mineralization on the 610-acre claim group as part of a 50-50 joint venture between Durvada and VSE-listed Crimson Star Resources.

Gateford Resources (ASE) recently made a takeover bid for all the outstanding shares of Landmark Corp. The offer calls for Gateford to issue 11 of its shares for each 13 shares of Landmark. Gateford has already negotiated lock-up agreements with shareholders who own 43% of Landmark. The offer expires on May 7, unless extended. Shares of Gateford fell 4 cents to close at 10 cents.

During the report period, Gordon-Daly Securities and Bregman Securities increased their joint stake in Falcon Point Resources to 605,808 shares or 15.17% of the company’s issued shares. Falcon Point rose 7 cents to close at 96 cents on volume of 144,600 shares.