Alberta Stock Exchange Seabee moves Claude

Several issues improved during the week as gold continued to hang on to recent gains. Claude Resources was one of the best performers, adding 40 cents to $4.70 on good volume. A greenlight has finally been flashed by Placer Development (see front page story), for an underground program at Claude’s Seabee gold property near La Ronge, Sask. Placer has the right to earn a 55% stake. Before the decision, Claude was a quiet trader in the $3.50-$3.80 range.

Shiningtree Gold Resources came back from the brink after a cease trade order was rescinded. The issue was trading at 16 cents -20 cents on light volume. On its first day back however, a healthy 107,200 shares traded hands. The company has several well-located claims in the Casa Berardi area of Quebec Sweany Gold was another issue which had disappeared for a number of weeks. Seweany resumed trading at 15 cents .

News of encouraging drill results enabled Jilbey Industrial to climb to 66 cents after hitting a high of 77 cents . The company has a property in Quebec. Bay Resources and Services, a partner on the Jilbey property, remains unchanged at $1.65.

Citadel Gold, which is busy with an underground exploration program on a former producer near Wawa, Ont., gave up some ground to $4.20 — down 54 cents for the week.

Zahavy Mines was better, adding 25 cents to $2.05. The company has completed a $500,000 financing consisting of a combination shares and flow-through shares. Noramco, the exploration company controlled by Bruce McDonald took down the Zahavy shares. If all options are fully exercised, Noramco could end up owning approximately 16% of Zahavy. The cash will be used to fund on-going exploration at the company’s Favourable Lake, Ont., gold property. Getty Resources is the partner.

Rumours of Murray Pezim becoming associated with Storimin Exploration and that company’s promising Moss Lake, Ont., gold play, are probably behind that issue’s price climb to $1.10 — up 25 cents for the week. The Pez controls a sizeable land positon in the general area.