Unlisted Trading (December 02, 1991)

Creeping up 10 cents to 85 cents on thin volume during the week ended Nov. 26, Holcorp Mines says it has purchased a 100% interest in the MacArthur property in Lyon Cty., Nev., for US$1.9 million.

Holcorp, which still owes $900,000 to the vendor, says it is negotiating an agreement with Arimetco International to develop the property’s copper deposit.

CopperQuest gained 5 cents to 30 cents as the company prepared for drilling on its claims in the active Shining Tree area of northeastern Ontario. The company believes copper-gold mineralization previously intersected on the claims could represent the stringer zone of a volcanogenic massive sulphide deposit.

Teddy Bear Valley Mines, which closed unchanged at $2, has replaced longtime chairman Ross Hofmann with Jack Riddell, a director since 1987. The company says the move is designed to improve its chances of raising money. In an address to shareholders, Ross Island Resources says a 7-hole program on its property in the Kenora district of Ontario failed to intersect any significant mineralization. The company, which was 10 cents bid, 20 cents ask for the week, says it will not proceed with further work until gold prices and general economic conditions improve.