The market is in such bad shape that it doesn’t matter who’s running it, remarked one over-the- counter broker when asked to comment on the TSE’s recent decision to take over COATS. It remains to be seen whether the TSE can make a difference to the trading system’s bottom line, but its appears the OSC is breathing a sigh of relief after finally washing its hands of the junior market. Making its mark in the new year is Madison Grant Resources.
Thinly traded in 1990, the company is seeking a joint-venture partner for its gold mine near Virginia City, Mont. Madison, which recently acquired 40 claims around the mine site, lost 10 cents for the week ended Jan. 8 to close at $1 on a volume of 154,550.
On rumors that partner Queenston Mining hit a wide zone of copper-zinc mineralization at a property in Robertson Twp., Ont., Strike Minerals gained 10 cents to close at 40 cents on a volume of 37,000. Queenston neither confirmed nor denied the rumours, but issued a press release saying recent trading activity could be related to the 5-hole drill program.
Madeleine Mines says the Lac des Iles platinum mine near Thunder Bay, Ont., is finally up and running, although the company has yet to receive the necessary permits for the operation. Madeleine is earning a 50% interest in the property from The Sheridan Platinum Group, which is 90% owned by Boston Bay Mines. Boston Bay did not trade this week.
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