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Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: Supervalue who wrote (1740)	12/9/1997 12:38:00 AM
From: Anthony Wong	Read Replies (2) \| Respond to of 11676

Financial Post Dec 9: Find near Voisey's lifts two juniors By JOHN GREENWOOD and PETER KUITENBROUWER The Financial Post Shares in Donner Minerals Ltd. and Northern Abitibi Mining Corp. more than doubled yesterday after the companies said they have found "massive mineralization" at a site near Voisey's Bay, Nfld. Shares in Vancouver-based Donner (DML/VSE) closed at $2.50, up $1.27. Calgary-based Northern Abitibi (NAI/ASE) closed at $1.62, up 87›. Trading in the shares of both companies was halted on Friday after officials noticed an unexplained spike in trading volume, then resumed yesterday morning. A spokeswoman for Northern Abitibi said volume jumped on rumors of the find that began circulating on the Internet on Friday. Donner and Northern Abitibi are involved in a joint exploration project on a property about 90 kilometres south of Inco Ltd.'s massive Voisey's Bay nickel discovery. According to the release, issued yesterday, geologists at the Labrador site found 15.7 metres of sulphide mineralization. While calling it the most significant piece of mineralization to be found since the Voisey's Bay find, Donner CEO David Patterson cautioned that "it's a little early to talk about what might be there." Analyst Andrew Muir of Canaccord Capital Corp. urged caution. "This is not a discovery yet and I wouldn't extrapolate from this hole." Northern Abitibi spokeswoman Lesley Hayes said the rumors started almost as soon as geologists pulled the core samples on Friday. "But I don't know how the rumors got started," she said. "You tell me and we'll both know." Northern Abitibi CEO Glen Harper was travelling and could not be reached for comment. Trading in the shares of Golden Rule Resources Ltd., which owns 32% of Northern Abitibi, was halted yesterday morning and will resume today, said TSE spokesman Steve Kee. Golden Rule shares were not halted Friday because the volume didn't jump until yesterday. The stock (GNU/TSE) closed Friday at 70›, up 12›. The Alberta Stock Exchange said a software program alerted officials to Friday's heavy trading in Northern Abitibi. The exchange halted the stock after it jumped 25› to 75› on a volume of 216,400 shares. At the same time the Vancouver Stock Exchange halted trading of Donner when shares rose 38› to $1.23 on a volume of 625,300 shares. The two companies are 50% partners in the South Voisey's Bay property. "There is a huge audience with this on their radar screen looking for another Voisey's Bay," said analyst Muir. canoe.ca