Montreal Exchange Mazarin makes waves

With 422,200 shares changing hands during the week, La Societe d’Exploration Mazarin surged ahead to its highest level since being listed on the Montreal Exchange in 1986.

Mazarin peaked at 80 cents during the week before slipping back to 68 cents , a 3 cents gain for the week. It was the most active issue on the exchange this week.

Mazarin has some interesting properties, any one of which may have cause the surge. It has ground in near Casa Berardi and Chibougamau as well as a very grassroots play near Schefferville in northeastern Quebec.

Also active was Syngold although it moved the other way falling 11 cents to close at $1.91 on 217,200 shares. Late in 1986 it climbed as high as $3.30 based on some drilling results from the Owl Creek West property in Timmins, Ont., held by operator Falconbridge, on which Syngold is funding work in order to earn a 35% interest.

Oasis, which was one of the first to show results from a gold property in the Souart Twp. area, was active with 204,300 shares trading. It picked up 4 cents to close at 68 cents although it had been as high as $1.15 in 1986. It touched 85 cents during the week.

Newly-listed Rambo also picked up 4 cents on 105,600 shares to close at 84 cents .

MSV Resources moved up 23 cents to close at a high of $1.10 on 56,800 shares. The company has its funding in hand and is set to start drilling on Placer’s Eastmain property in order to gain an interest there.

Novamin, a thin trader at the best of times, held steady at $2.65 on 16,400 shares despite good results from its Tonawanda property, a joint venture with St. Joe Canada.

Wrightbar picked up another 8 cents to close at $1.78 on 33,800 shares. Work by Belmoral Mines continues on Wrightbar’s Val d’Or property where a decline ramp is being put down.

Belmoral was up 10 cents to $2.75 on 26,800 shares. It just announced big plans for exploration on Broulan Resources’ property in the Timmins area. Almost $10 million is going into the project over the next 14 months.