All flat on the western front

Vancouver — Canada’s junior exchange remained flat leading up to the Christmas holidays. For the 3-day report period ended Dec. 26, the Canadian Venture Exchange composite index was relatively unchanged at 2,783.24, up just 9.07 points. The mining index rose 58.74 points, or 1.3%, to finish at 4,615.18.

Cantex Mine Development topped the most active chart, losing a penny to close at 15. The company is focused on mineral exploration in Yemen, exploring for both gold and copper/nickel/platinum-group-metal mineralization in the northern part of the country. Earlier this year, Cantex optioned the Suwar prospect to Falconbridge, which can earn up to a 60% interest. Local disturbances forced Falconbridge to postpone a ground geophysical program until the new year, pending a satisfactory resolution.

Muskox Minerals fell as low as $2.65 before climbing back to $3.50, up a dime. Investors are anxiously awaiting initial assay results from 11 widely spaced holes drilled into the Keel-1 West geophysical conductor at the Muskox project in Nunavut. All are reported to have hit sulphide mineralization along 1.5 km of strike.

Aquest Minerals remained unchanged at 15 on news it had agreed to acquire a full interest in a prospective 30.3-sq.-km gold property in Guatemala.

International Annax Ventures was off 2 at 90. The junior reported further drill results from the high-grade Dairi zinc-lead project in Sumatra, Indonesia. A hole on the deposit’s southern boundary intercepted a 9-metre interval of massive sulphides, 40 metres downdip of previously reported hole 41 (6.6 metres grading 15.6% zinc and 9.1%lead).

Platinum group metal explorer Aurora Platinum shed 15 to finish at $7.10. The company is drilling the Foy prospect in Ontario’s Sudbury district, and the Midrim property, northeast of Ville-Marie, Que.

Calgary-based Tiberon Minerals shot up 53 to $1.15. With more than $2 million in its treasury, the company is focusing on the Nui Phao tungsten-copper-gold project in Vietnam. Twelve holes have tested 1.4 km of strike length at the Da Lien prospect. Results from only the first hole have been reported.

Canabrava Diamond was up 3 at 48. The company is raising up to $2.3 million in two separate private placements priced at 40 per unit.

KRL Resources finished up 7 at 18. The company reported encouraging gold values from a 13-hole drill program on an iron formation zone at its wholly owned Copper Hill property, south of Timmins, Ont.

After a brief attempt to enter the energy market, Pan Asia Mining has elected to concentrate on developing its mineral properties in China, including the 701 diamond mine project in Shandong province. Pan Asia tacked on 3 to close at 12.

Peruvian Gold shelved plans to merge with Patriot Computer after learning that Patriot had been assigned into bankruptcy. Peruvian’s board of directors will continue to review other business opportunities. Peruvian has $10 million in cash on hand. The issue closed at 45, up 3.