Yesterday the Vancouver market roared as investors stampeded into speculative issues and the index broke yet another record. For the first time ever, it breached the 1,645 level and vse spokesperson Hallie Winslow says the index has new- highed all but one day this month.
Volume has been extremely heavy — 25 million shares on Tuesday — and with brokerage month- end completed for local houses, the market appears destined to go higher. Gold prices are certainly co-operating and the consensus is widening that interest rates will go lower. These are two key driving components in the Vancouver market.
By presstime the market index was ahead 25 points to 1,671 and trading activity was extremely heavy, suggesting yesterday’s final volume will be eclipsed. Ravenroc Resources, which at last report had purchased almost $60,000 worth of Corona shares and Pezcorona warrants, was 40 cents stronger at $2.15.
Meanwhile British Silbak B shares, which have been extremely active since Westmin Resources announced a “production scenario” for their joint venture property at Stewart, B.C., climbed 15 cents to $3. Zenith Metals, a new listing, traded at $1.17 which compares to the 50 cents it sold for in the primary.
Viceroy Resource Corp., which has been reporting encouraging drill results from its Castle Mountain property in California, jumped $5.50 to $18.25 over our report period, and Technigen Platinum class A shares were ahead $1.87 to $9.25. The latter is involved in a major platinum exploration play with Equinox Resources and it’s also marketing a gold simulator.
Trans Atlantic Resources, which is acquiring a health technology company in a reverse takeover, shot up $1.71 to $3.40 and Tournigan Mining Explorations, which would be part of Westmin’s gold project at Stewart, assuming it goes ahead, jumped $1.50 to $2.80.
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