Montreal Exchange NAR resumes climb

The volume leader on the Montreal Exchange this week was, once again, North American Rare Metals.

NAR traded 728,300 shares and moved up 23 cents to close at 78 cents as it continues to work on its gold prospect east of the Casa Berardi area in northwestern Quebec. The issue has been active for the past month and making steady gains.

Leading the pack in value, however, was Noranda, down 25 cents to $25 on 566,300 shares. Although based on mining, Noranda appears to move more as a result of developments in the forestry sector these days.

Vior lost some of the ground it gained in the previous couple of weeks as it fell back 23 cents to close at $1.95 on 642,400 shares. Its property in northwestern Quebec’s Ligneris Twp. is still somewhat of a mystery although some good drill results have been released.

However, if it’s good enough for Sigma Mines, which has to make a $300,000 cash payment early in March in order to maintain its option to gain a 50% interest in the property, it may well be good enough for many investors.

Sigma itself, a Dome Mines subsidiary, was up $2 to $16 on light volume.

Aiguebelle was up 6 cents on 54,200 shares to close at $1.05. The Quebec fina nce department has given a favorable preliminary tax ruling on a proposed takeover of the company by a subsidiary of Cambior.

Syngold picked up 15 cents , some of the ground it lost the previous week. It traded 244,800 shares to close at $2.08. Some spectacular results were announced late in 1986 from a property in northeastern Ontario being explored by Falconbridge with Syngold’s money, but it looks like the company could have another winner in the Rouyn area.

Bruneau Mining got some good news from the exploration crew on its Clavos property just east of Timmins, Ont., pushing the stock up 7 cents to 53 cents on 150,000 shares. The Clavos property is shaping up nicely for Bruneau and its parent company, Canamax Resources.

Wrightbar gained 10 cents on an up-and-down week that saw it move to as high as $2.58. It closed at $2.25 on 215,200 shares.