Market statistics for the first nine months of 1989 place the ME in second position among Canadian stock exchanges in terms of transaction dollar value, with a 19% share. In terms of share volume, however, the exchange is on the third rung behind leader Toronto and Vancouver.
The two main players in the copper-zinc massive sulphide discovery in Louvicourt Twp. near Val d’Or, Que., are arousing investor interest again. Aur Resources gained $1.25 to $12.38 on 126,700 shares, while Societe Miniere Louvem improved by 38 cents to $7.88 on a volume of 214,500. Some analysts attributed this latest wave of buying to institutional investors jumping aboard the wagon and to increased estimates of the size of the deposit. Louvem’s parent, St. Genevieve Resources, also posted a gain, moving up 8 cents to $2.40 on 155,100 shares.
A Louvem subsidiary, Monique Exploration, has signed letters of intent with Louvem to allow Monique to boost its interests in the Monique property east of Val d’Or, and the Castagnier property northeast of Amos, Que., by 10% and 45% respectively. In both cases, Monique must commit exploration funding to increase its interest. Trading 25,900 shares, Monique slipped 1 cents to 78 cents .
Belmoral Mines, with two producing gold properties at Val d’Or, has named a new president, R. C. Brown of Calgary. A director and former president of the company, Brown replaces Kenneth Dalton, who remains chairman. Belmoral was off 1 cents to 65 cents on the week with 103,900 shares changing hands.
Exploration work is under way on the Zephry zone discovery at the Elizabeth gold property of Societe Miniere Mimiska in northwestern Ontario. Mimiska gained 13 cents to $1.29 on 56,700 shares.
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