With drills probing its claims adjacent to the old Poirier copper-zinc mine near Joutel, Que., Bonanza Metals gained 5 cents to close at $1.10. The company is in a joint venture with Ressources Minieres Forbex. The partners hope to come up with extensions to the mined out base metal ore zones of the old Poirier mine, which closed in 1975.
Carolin Mines lost another 7 cents this week to close at 23 cents in active trading. Carolin owns a low grade former gold producing mine near Hope, B.C.
First Canadian Gold moved up 15 cents to 95 cents on 15 transactions and moderate volume again this week. The company is headed by geologist James Gill (also president of Aur Resources), and has working capital of more than $1 million in addition to a 9% net profit royalty in Aur’s producing Kierens gold mine. Of the 4.7 million shares of First Canadian issued, Gill owns about 31%. Investors who bet on the jockey and not the horse, are speculating Gill will turn First Canadian into a winner at some point in the future.
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