Vancouver Stock Exchange Value of trading in ’88 half of ’87

The anniversary of October 1987’s “Black Monday” is just around the corner, and although it’s the kind of milestone that only an unabashed short-seller could truly love, one need only look at VSE trading activity so far this year, as compared with pre-crash figures of last, to see the dramatic change in market climate since that auspicious date. While VSE share volume for the first nine months of 1988 was down 32% from the same period in 1987, share value at $2.5 billion was a whopping 55% below value of the first nine months of last year ($5.6 billion). Need one say more?

At press time, the VSE Index was down 8.2 points to 856.91, with 136 advancers, 184 decliners, and 384 issues unchanged.

Black Swan Gold Mines gained 3 to 65 after completing a financing to make further acquisitions in Australia and North America. Anthony Resources moved ahead 3 to 14 after reporting values up to 3.156 oz gold and 20.49 oz silver from trench samples on its Logan Claims on Vancouver Island near the Nexus/Westmin gold project.

MacMillan Energy, partners with Granges Exploration on the Mishi Project in Ont., continued to climb over our report period, gaining 15 to $2.60. Investors obviously approve of the deal made with Muscocho Explorations to test-mill Mishi ore at the nearby Magnacon mill.

Tally-Ho Exploration, which recently made a deal with Doron Explorations whereby Doron could acquire 100% of its interest in the La Forma mine in the Yukon, gained 2 to 11 .

Algo Resources, jumped 7 to 45 , likely due to street talk that Minnova would be drilling a high grade stockwork opened up by trenching on its joint-ventured Adams Lake property immediately adjacent to the Samatosum property. (The B.C. Government just approved the Stage I permit for the Samatosum project, and crews are already on site to begin work.)

Star One Resources, now set to begin underground work on its Mineral Hill property adjacent to the Premier Gold Project in Northern B.C., gained 7 to 94 .

St. George Minerals climbed a dime to $2.20 after announcing plans to form a joint venture with U.S.-based Reynolds Metals to explore a group of gold properties held by St. George in the Battle Mountain and Carlin Trends of Nevada.

Although it had been quiet for some time, Magna Ventures gained 8 to 56 after announcing that Echo Bay Mines could earn a 50% interest in the Doc property near Stewart, B.C. A major work program, including drilling and underground work, is already in progress under the direction of Echo Bay. Activity in McConnell-Peel Resources was due to a reverse take-over by an industrial company. The issue lost 34 to $1.22. Camfrey Resources sold off its mining interests and is now an industrial concern; the issue gained 4 to 92 .

Levon Resources, which last week reported a zone 630 ft in length grading 0.331 oz gold per ton over an average width of 4.66 ft from its Congress property near Gold Bridge, B.C., gained 5 to $2.20.