Adrian Resources, which holds highly prospective ground adjacent to Calpine’s Eskay Creek property, lost 45 cents to settle at $3.45 today. Calpine Resources d ropped 75 cents to $7.75, while Prime Resources slipped 45 cents to $4.80.
At press time the VSE Index was down 17.55 points to 827.97, although it gained 23.11 points from a week ago. Mid-way through the session, a tot al of 14.9 mil lion shares valued at $19.3 million had changed hands.
Murray Pezim’s Prime group companies dominated trading activity over our report period, and brokers expect this will be the case for some time t o come. Pezim is so upbeat these days that he has announced plans to list Prime Resources on t he TSE, raise between $50 to $100 million for his stable of companies, buy the B.C. Lions football team, take another shot at bein g a boxing promoter and have another go at marriage with a new bride.
Prime company Goldnev Resources gained $1.35 to $3.80. The company has a stake in a copper- zinc mine near Revelstoke, B.C., in addition to a number of gold p rojects in Nevada, the Yukon and northwestern British Columbia.
Cheryl Resources moved up 16 cents to 98 cents . The company has several properti es near Calpine’s ground, including the Newice project which is a joint venture with Ticker Tape Resources. The Prime group companies say several new gold disco veries on the property will be drilled this month.
Pezim is also on the board of Springer Resources which has secured a stake in a land package in northwestern British Columbia. It is being explored by Granges Inc. Springer gained 25 cents to $1.05.
Consolidated Stikine Silver is reported to be up for sale although we gather the company hasn’t decided when it will officially entertain offers. Th e company’ s key asset is a 50% stake in the Eskay Creek project. Stikine gained $5.62 to r each a high of $52.12.
The upsurge of trading on the VSE isn’t just confined to Prime group companies.
Redfern Resources got a boost of $1.25 to $3.25 after announcing that Cominco Ltd. had completed four drill holes on the Tulsequah Chief massive sulphide proj ect in northwestern B.C. Assays are expected shortly, but Redfern says results t o date “suggest a substantial addition to geological reserves.”
Crown Butte Resources also has been an active issue since it reported impressive assays from a new discovery on its New World property in Mon tana. Results (u ncut) include 20 ft of 0.99 oz gold and 2.68% copper, 35 ft of 1.089 oz gold and 1.33% copper and 100 ft of 0.260 oz gold and 1.87% copper. A 31-ft interval grading 2.47 oz gold (uncut) was also reported from the Fisher Mountain zone. Crown Butte gained $1 over our report period to settle at $7.50.
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