Vancouver Stock Exchange Market bullish with new highs

Investors are taking a hard look at secondary markets because blue chip gold stocks on the tse and elsewhere are getting a bit expensive. As a result Vancouver has turned extremely bullish and its market index has new-highed for four consecutive days. Lower interest rates, predictions of higher inflation in the U.S., and the looming debt crisis in Latin America are moving investors into gold shares. An inflation psychology seems to be re-emerging; and with Nancy Reagan advising her husband on the budget, it might not be far off.

At presstime the market index was ahead 14.8 points to 1,538.7, representing a 76.7 point gain from last week. J.R. Energy traded heavily today and was 12 cents stronger at $1.52 and United Global climbed another 10 cents to $2.00. Ican Minerals was 35 cents better at $3.35 and Minerex Resources shot up 26 cents to $1.45.

Over our report period Skyline Explorations posted a $2.00 increase to $12.13. The company is developing a gold property in northwestern B.C. and has been the subject of heavy overseas buying. Highland- Crowe says it has outlined seven million tons of reserves grading 0.23 oz gold at its Pickle Lake property, in northwestern Ontario.

Louisiana Mining climbed $1.21 to $2.88 and Dasher Resources closed 90 cents higher at $1.50. Louisiana was scheduled to begin drilling on its Moapa mining project, in Nevada, last week. In med-February Dasher announced plans for a $1-million private placement which was to be used for its Cliff mine project, near Valdez, Alaska.

Granduc Mines was ahead 55 cents to $3.00 — a gain that was matched by Greenstone Resources which closed at $4.00. Granduc is participating with Newhawk Gold and Lacana Mining in the Sulphurets project, north of Stewart, B.C. At last report Greenstone was planning to acquire a block of mining claims in Costa Rica.

New listings for the week included: Genco Industries (formerly American Volcano Minerals), Sanilogical Industries, Scottie Gold Mines (reinstated), HPY Industries (formerly Happy Resources), North Pacific Industries (formerly Pacific Rim Energy), Oliver Gold, Ascot Resources, West Rim Resources and C.E.L. Industries (formerly Ormont Explorations).