Alberta Stock Exchange Ontex up 20 cents

Shares of Ontex Resources rose 20 cents to $1.85 during the week ended Aug. 28 as investors begin to speculate on the outcome of a trial involving the company and TSE- listed Metalore Resources. Shares of Ontex have been rising steadily as the Sept. 4 trial date approaches for a court battle with Metalore. The two companies are fighting over ownership of the Brookbank gold deposit near Beardmore, Ont., where Placer Dome has an option to earn a 50% interest from Metalore. Gunnar Gold traded 204,200 shares to close up 4 cents at 23 cents, while Mill City Gold traded 134,500 shares and was unchanged at 35 cents. The two joint venture partners are set to begin mining soon at the Tyranite gold mine near Larder Lake in northeastern Ontario.

Shares of BMR Gold rose 5 cents to $1.15 as the company awaits the final results of a feasibility study on its 50% owned America Mine gold project in southern California.

Elsewhere in the western U.S., Carlin Gold posted a gain of 6 cents to close at 66 cents by the end of the report period. Carlin has a large land position in the Stockade Mountains region of southeastern Oregon where BHP-Utah International is its joint venture partner.

Meanwhile, shares of Savanna Resources continued to drift lower to a closing price at 36 cents, down 7 cents on the week. Savanna has been seeking a senior joint venture partner on its Turner Albright zinc- copper-gold deposit, also in Oregon.

Flag Resources managed to hang on to its recent gains and remained steady at 30 cents. The company holds a large land position over a huge geophysical anomaly near Sudbury, Ont. Falconbridge Ltd. recently completed a major staking program in the area. Flag has not ruled out the possibility of a joint venture with a senior company on its ground.

Pinegrove Resources was unchanged at 35 cents after the company announced it is planning to raise nearly $3 million from Hong Kong investors who are eager to immigrate to Canada. The company plans to sell debenture units worth $150,000 under the federal government’s Immigrant Investor Funding Program, and use the proceeds to develop a placer gold mine in the Yukon.

Shares of Tyrae Resources fell 4 cents to 75 cents during the report period while Integrated Resources slipped 6 cents lower to 24 cents. Both companies have been exploring properties in the Golden Triangle of northwestern British Columbia.

Shedding 22 cents to close at 70 cents was Glencairn Exploration which has been drilling its Goodfish gold property in northern Ontario this summer. Glencairn’s Raw Bean diamond mine in Brazil is scheduled to reach full production next month, after a series of startup problems earlier this year. Noble Peak Resources traded 750,000 shares and closed down 4 cents at 35