Vancouver Market Exchange Calpine stumbles, Prime holds steady

The investment community continues to watch the Prime/Calpine takeover with interest. Trading was halted during the period prior to the VSE requesting an independent evaluation of the assets of both companies. Perhaps even more interesting will be the requirement for a prospectus-level disclosure of all company affairs. Following the halt, Calpine shares fell from the $5.60- level to below $4.75 while Prime remained at the $2 level. With no bids emerging for Stikine Resources, the issue followed the group down with a $5 drop to the $40 level.

Seven Mile High Resources went for a roller-coaster ride for the week ended Dec 5, rising $1 to $3.75 before giving up all its gains and then dropping to the $1.90 level. The company cites a recent news release that reported a 1-million unit private placement at $3 per unit as well as speculation over the company’s Vault gold property near Okanagan Falls, B.C., for the stock’s ascent. The subsequent price dive was blamed on a barrage of illegal short selling.

Although it did not experience a particularly wild ride, Kokanee Explorations was very active fluctuating between $1.10 and $1.20 per share. The company recently released a number of trenching samples from its gold-silver-lead-zinc property near Cranbrook, B.C.

Miramar Mining was active in the week, moving up 75 cents to $2.75 before pulling back to the $2.50 level. The company attributes the price move to deep sulphide prospects on its recently acquired Flowery project in Nevada.

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