Vancouver Stock Exchange Bullish psychology not shrinking

The market psychology on Vancouver has turned exceptionally bullish, reflecting in part the sentiment on the Toronto and New York stock exchanges, which were quick off the starting block in 1987. Gold’s recent climb to over $400(US) has dissipated many fears about the metal’s ability to maintain the major gains it posted last year. So precious metal stocks are naturally the beneficiaries.

One of the hottest issues at the moment is Skyline Explorations which was ahead $2.25 to $9.13 over our report period but which has since climbed to $10.88. European investors seem to have an insatiable appetite for the stock despite the fact that no detailed information has been made public on its Reg gold property.

In heavy volume today Eastmaque Gold was 30 cents better at $5.00 and Delaware Resources Corp. jumped 16 cents to $2.60. Eastmaque is planning a 200,000-ton bulk leach test at its Cargo Muchacho gold project in the next three months. Delaware says it’s not aware of any material facts that would account for the heavy trading in its stock. But the company has property near Skyline in northern B.C.

Over our report period, Lady Robyn soared $2.38 to $8.13. The company recently announced it had encountered oil in a well in northern Alberta. Lady Robyn has a 12.5% interest in the producer. Vault Exploration zoomed ahead $2.30 to $3.50 on news it was acquiring 48% of Mali Mines for treasury stock. Saudi businessman Adnan Khashoggie is chairman of Mali which apparently has gold and diamond reserves in west Africa (a nice combination).

Caldera Mines shot up 90 cents to $4.20 and United Gold finished the week 85 cents stronger at $3.25. At last report, Caldera was trying to buy an electronics company. United, which has a gold property in California, is associated with ABM Mining Group (Sonara, Inca, Goldenbell, etc). Greyhawk was the volume leader with a turnover of one million shares for a 1 cents loss to 18 cents . The company is involved in a gold property near Vernon, B.C.

New listings for the week included: Epic Data, Chelsea Resources (formerly G.L.E. Resources), International Interlake Industries and Ft. Lauderdale Resources (formerly Eskimo resources).