Vancouver Stock Exchange Trading activity remains mixed

Trading activity in Vancouver has been mixed for the past week, reflecting in part weaker gold prices and the stronger U.S. dollar. At presstime the market index stood at 1,159.6, down marginally from yesterday’s close.

Forum Resources, a heavy trader today, was up 4 cents to 18 cents on a turnover of 407,000 shares while Galveston Class A shares were down 15 cents to $4.50 in slightly lower volume. Forum recently acquired a a 100% interest in the Downdip claims at Harrison Lake, B.C. A short time ago, Galveston merged with Blackbird Resources, making a few board changes in the process. Murray Pezim is honorary chairman, Ned Goodman chairman, and Peter Steen, president. (Friends at last.)

Climbing 64 cents to $11.13 was Delaware Resources which just announced a $4.5-million program on its snip property in northwestern B.C. Two of its directors, Ron Netolitzky and Lawrence Nagy, were overseas this week which might explain the stock’s strength.

El Paraiso, which has optioned a gold property in Queensland, Australia, from Black Swan Gold Mines, was 9 cents better at 45 cents and Villeneuve was up 8 cents to 99 cents . Drilling is scheduled to begin on Villeneuve’s Kirkland Lake, Ont., gold property in February. Mintel International, which has a strategically located property near the Grew Creek discovery at Faro, was ahead 4 cents to 35 cents .

Over our report period, International Focus shot up 58 cents to $2.48 while Hemisphere Development jumped 25 cents to $3.35. In the next two weeks 10 wells will be spudded on various projects that International Focus is involved with. Hemisphere is involved in a significant zinc discovery northeast of Yellowknife, N.W.T.

Bowes Lyon Resources was the volume leader this week with a turnover of almost 1.1 million shares for an 8 cents loss to $1.70. The company is purchasing an Arkansas trucking company for shares, giving new meaning to the phrase “wheeling and dealing.” Kelly Kerr also traded heavily, rising 21 cents to 31 cents in the process. The company is involved in a reverse takeover with Sirius Resource Corp., an unlisted company.