Vancouver Stock Exchange Gold price rise slow to work

O’Hara Resources was the volume leader for the week ended Nov 14, picking up 6 cents to 38 cents on heavy volume. Trading in the company’s shares was halted today, pending an announcement. Several weeks ago the company announced it was in the process of hiring a contractor for its proposed placer mining operation in California.

War Eagle Mining lost a further 25 cents to settle at 94 cents after a brief run on speculation of good drill results from the War Eagle Mountain property in Idaho. The results, which unfortunately weren’t as good as expected, accounts for War Eagle’s declining share price.

Prime Resources lost 20 cents to settle at $1.88 while Calpine Resources gained 24 cents to $4.55. Shareholders of both companies will be meeting in mid-December to consider a business transaction that will result in a consolidation of Prime shares and a merger of the two associated companies. A good turnout and lively debate are expected.

Adrian Resources, another Prime group company, lost 4 cents to $1.10. Shareholders are still uncertain about the status of the company’s interest in a property adjacent to the Calpine/Stikine Eskay Creek property in northwestern British Columbia.

High Reserve Resources gained 1 cents to 23 cents after announcing that a drill program was under way on its 50% owned claims adjoining Battle Mountain Gold’s open pit gold-silver mine In Nevada. Assay results are expected shortly.

Kyber Resources was also busy, gaining 17 cents to 30 cents . The company announced a corporate re-organization and new management team, plus an agreement to acquire 70% of mineral claims in the Cariboo district of British Columbia.

A small surge of trading in White Knight Resources edged up the company’s share price a nickel to 70 cents . The company recently announced plans to start an exploration program (to be followed by drilling) on its Sullivan 2 property near Creston, B.C. White Knight says mineralization on the property consists of a sulphide horizon containing lead, zinc and silver that has been traced for 2,000 m along strike.

Crown Butte Resources got a small boost of 25 cents to $7.62 after releasing new drill results from the New World gold project in Montana. And despite the lawsuit still clouding the Mt. Milligan gold-copper project near Prince George, B.C., Continental Gold gained 25 cents to reach $9.

Fairbanks Gold moved up 37 cents to $7.62 after announcing it had received a written proposal from an international mining company for possible involvement in the company and its Alaskan mineral properties.

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