Alberta Stock Exchange Roper Rises

In the space of about six weeks the price of Pan East shares has risen to $1.45 from around 30 cents .

By contrast, the reasons behind a $1.37 hike in the shares of Roper Resources are much clearer. Investors are anticipating results from 14 holes which were dr illed recently on the company’s 50%-owned Red Elephant property in British Colum bia’s Slocan mining division.

Channel samples from the property have already assayed as high as 0.77 oz gold per ton across 15 ft, according to spokesman Rick Watson, and hopes for some in teresting results are high. Joint venture partners in the project are Golden Arch Resources and Mikado Resources, both of Vancouver. Trading on 193,100 shares, Roper closed a t $2.60.

International Viking Resources, a Murray Pezim company which is connected to the Unuk River, B.C., gold discovery via its 24.7% stake in Prime Capit al Corp., lost some momentum this week.

After gaining 73 cents last week on a volume of over one million shares, Viking dropped 19 cents to close at 90 cents .

However, Savoy Minerals, which ranked second in the volume standings last week , continued to make progress on the strength of exploration at its Thorn Mineral s gold property east of Terrace, B.C.

Trading on 74,000 shares, Savoy gained 20 cents this week before closing at $2. 05. Drilling is expected to resume again soon at the Savoy property where a recent 100-ton bulk sample yielded 200 oz gold.

The Varna Gold issue lost ground following the release of drill results from its Mings Bight gold property in Newfoundland. Toronto-based Corona Cor p. can ear n a 70% stake in the project by taking it to the positive feasibility stage. Tra ding on 291,800 shares, Varna dropped 3 cents before closing at 32 cents .

Golden Crescent Resources didn’t fare any better on news that Placer Dome Inc. has completed a surface stripping and sampling program at the Talbot lake gold property, near Pickle Lake, Ont. Golden Crescent remained stalled at 45 cents .

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