Montreal Exchange Essor popular issue

Resource companies continue to be among the active leaders on the Montreal Exchange, where two of the mining stocks traded more than a million shares each during the past week.

One of the firms, Essor Exploration, closed up 27 cents to 78 cents on a volume of almost 1.7 million shares, with the company being the subject of a takeover rumor.

Guy Morissette, president of Essor, told The Northern Miner that a Toronto firm is supposedly interested in taking over Essor in order to acquire a gold property near Malartic, Que. Mr Morissette said he has no intention of selling his company.

The other “million” trader was Mimiska Exploration Class “A”, which closed up $1.05 to $2.70 on 1,174,100 shares.

The Montreal Exchange has been trading at record levels during the week, although its portfolio index has been in retreat, closing down more than 34 pts at the end of one session.

Maufort Resources saw its stock jump 54 cents to $1.23 on a volume of 991,700. Maufort and its joint- venture partner Cambior Inc. recently announced encouraging results from a surface drilling program at their Siscoe project in northwestern Quebec.

The companies are exploring their “K” zone where values of 0.22 oz gold per ton over 5 ft and at a depth of 890 ft, 0.07 oz over 4.3 ft at 1,355 ft, and 0.54 oz over 3 ft at 1,440 ft, have been encountered. The drilling program continues.

Yorbeau Resources recently announced discovery of a new gold- bearing structure at the Astoria property, near Rouyn-Noranda, Que. Yorbeau closed up 11 cents to 88 cents , with 820,500 shares changing hands.

Yorbeau President Karl Glackmeyer reported results from 11 holes, with gold values grading from 0.11 oz over 16.1 ft on up to 0.56 oz over 2 ft.

Robex Resources, which has identified a new 48-ft-thick structure at 222 ft on its Soma property in Duverny Twp. in Abitibi, traded 68,600 shares and closed up 4 cents to 67 cents .

Radisson Mining Resources closed down 1 cents to 57 cents on a volume of 478,700. The company has announced it has an option to acquire a 25% undivided interest in the Duquesne Gold Mines property in Quebec’s Destor Twp. by spending $6 million on exploration and development work during the next two years. Radisson has also acquired an option to purchase 100% of the outstanding shares of Duquesne.