Joutel unit offering completed

A $2.7-million offering will provide funds for continued work on the Cuban exploration projects of Joutel Resources (TSE).

Slightly more than 8.6 million units were placed. Teck (TSE) had already agreed to buy $500,000 worth of the units. Each unit, priced at 31 cents, consists of one subordinate voting share of Joutel and one warrant to buy one share at 60 cents.

Joutel plans to use two drills for 10,500 metres of delineation and exploration drilling on the Zona Barita occurrence in the Sierra Maestra concession west of Santiago de Cuba, where earlier drilling indicated preliminary resources of 476,810 oz. gold and 1.8 million oz. silver.

A third drill will test some 30 exploration targets in several different parts of Cuba.

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MOST ACTIVE ISSUES, AUGUST 2-8

Exch. Vol (000s) Close

Castle Rock V 4971 137

Lucky Break Gd V 4285 22

Cliff Res T 3143 6

Inco Ltd T 2959 $47 1/8

TVI Pacific A 2766 120

Cons Magna Vtr V 2608 127

Montello Res A 1935 35

Savanna Res A 1483 20

Echo Bay Mns T 1471 $14 1/2

Starcore Res V 1447 80