A junior mining company with 2.14 million tonnes of ore grading 0.23 ounces of gold per tonne on its Timmins property has witnessed soaring prices on the Toronto Stock Exchange, with no real explanation, a company official says.
In 2001, stocks were trading at three cents a share, with little or no trading over a period of several days. In late 2001 volume and price were on an upswing, and in mid-January the stock closed at 20 cents a share, with a volume of 570,000 shares. An official with the company says, although the property has been inactive since 2000, the intent is to raise funds when the price of gold goes up and eventually do additional drilling on the property.
