Montreal Exchange: Mazarin makes gains

Wednesday close, Oct 1

Word that Quebec prospector Peter Ferderber backed by a syndicate of 12 investors had made a significant platinum discovery north of Schefferville, Que., added to Mazarin’s fortunes this week. Mazarin staked a large land position in the same area earlier this year, although it was based on gold showings discoverd by government geologists.

Mazarin traded 388,600 shares this week, moving up 12 cents to 54 cents , more than a 28% gain on the week.

The most active issue, though, was Falconbridge, down 62 cents to $18.62 on 410,200 shares. The Canada Development Corp. announced this week that it had sold its 18% stake in the diversified minerals producer although it still holds a substantial amount of CDC convertible debentures.

Massval Mining made a 3 cents gain on the week rising to 24 cents on 284,300 shares after briefly touching a year high of 27 cents . The same group that organized Cogesco and Canacord has taken on management of this relatively inactive company and plans to put some key gold prospects into its portfolio. A share consolidation and name change is also in the cards.

Troubled Campbell Resoures made a gain of 5 cents to $1.60 on 68,600 shares. It has given a up a deal with Meston Lake Resources for developing the Joe Mann gold mine in northwestern Quebec. Campbell still plans to take down a substantial amount of Meston stock giving it a 60% voting interest.

Eider Resources, flying high two weeks ago, lost 22 cents last week but held steady this week to close at 75 cents on 60,000 shares. Two weeks ago it gained 25 cents , so it’s still ahead over the 3-week period.

Bruneau Mining was up a penny on 22,000 shares to close at 62 cents . It recently signed a deal with three Vancouver-listed companies to gain a 50% interest in a property in Estrades Twp. in northwestern Quebec’s Casa Berardi area. The property is about a mile southeast of the Golden Hope discovery in Estrees and Estrades twps.

Rouyn Resources was down 14 cents to $2.85 on 93,000 shares after setting a year high of $3.25 during the week. The company recently announced that Lac Minerals is buying 300,000 Rouyn shares at $2.50 per share and has an option to buy another 300,000 shares at $4 per share by the end of 1988.