Vancouver Stock Exchange Trading heaviest in years

While the market momentum has slowed somewhat, trading activity here is still the heaviest in years. Investors have started to take profits but the general market trend continues to be bullish, and with interest rates trending downward things could get better yet. Vancouver tends to lag behind other markets suggesting perhaps that the real boom is yet to come.

Heading up the active list at presstime was British Silbak Premier Mines whose B Class shares traded 13 cents higher at $2.38. The company may participate with Westmin Resourcers in the development of a major gold mine near Stewart, B.C. In the past, Silbak has said its interest was for sale “at the right price.” Tundra Gold was 18 cents stronger at $2.88 following the rel ease by Teck Corp of some impressive assay results from their Lamaque mine joint venture in northwestern Quebec. Samples from a crosscut 3,000 ft east of the Lamaque included 7 ft of 4.5 oz gold, 7.5 ft grading 1.9 oz and 6 ft of 1.5 oz to list a few.

New Beginnings climbed 19 cents to $1.34. The company has a 50% interest in the Sumich mine (Nevada) which is scheduled to begin production this April. At presstime the market index was ahead 5.3 points to 1620.

Over our report period, Trafalger Resources posted a $3.25 increase to $9.25 in light trading. Just about a month ago, Trafalgar announced plans to acquire a U. S. company involved in the communications field. Tracker Explorations, which has claims in the La Ronge area, jumped 80 cents to $4.50. At last report it was negotiating a joint venture or share purchase agreement with a U. S. medical corporation.

Sphinx Mining closed the week 75 cents higher at $3.25. The company says that gold production will begin at its Fish Creek property in Alaska this April. Leading the pack on volume was Greenwell Resources with a turnover of 2.9 million shares. The stock was down 17 cents to $1.40. Greenwell plans to purchase some U.S. Real Estate assets for convertible preferred shares.

New listings for the week included: Yanks Peak Resources, Rival Minerals, Minefinders Corp., Freegold Recovery, Lemming Resources, Cons. NRD Resources, Koala Resources, Golden Princess Mining (formerly O.T. Industries), Cannon Explorations and O.E.X. Electromagnetic (formerly Amark Explorations).

The VSE reports a short position of 4.7 million shares and warrants as of Mar. 6. Larger positions included: New Hombre (rights) 230,000; China Sea A 229,100; Westlake 166,800; Skyway 143,500; and Cardinal Mineral Corp. 136,600.