STOCK MARKETS — Golden Unicorn tops trading on western

Selling on western markets let up somewhat over the week ended April 26, with the Vancouver Stock Exchange composite index slipping 13.67 points to 1,080.08.

The resource index fared worse, posting a 27.98-point drop to 1,706.63 while gold managed to rebound a few dollars to the US$374-per-oz. level. Golden Unicorn Mining took the top trading spot once again, hitting a high of $1.85 on more than 5.9 million shares before being halted at $1.44 for a gain of 19 cents on the week.

Despite street rumors ranging from property deals to diamond discoveries, the company announced it has signed an agreement to buy a 51% interest in Gee Cee Mines.

Gee Cee holds 20 claims in the Fort Steele mining division in southeastern British Columbia.

Golden Unicorn can earn the interest by issuing one million free-trading shares and 1.5 million performance shares, under a formula of one share for each net dollar received for recoveries from “gold and/or all other valuable minerals including diamonds.”

After coming off the trading halt and with an hour left of trading on April 27, Golden Unicorn was steady at the $1.40 level.

Argentina Gold continued to gain ground, finishing at a new high of $8.25 for a gain of $2.25. The company is acquiring and exploring properties in Argentina.

Plans to sell or dividend-off its interest in the rich Eskay Creek deposit in northwestern British Columbia did not help Adrian Resources, which lost 35 cents to close at $4.15.

Adrian has a half interest in a claim gap which is estimated to cover about 102,500 tons grading 1.12 oz. gold and 30.6 oz. silver out of Eskay Creek’s 1.19-million-ton reserve.

St. Jude Resources added 30 cents to close at $1.50. The company is evaluating a gold and diamond concession in Ghana and has negotiated a 1-year option to buy a large placer processing plant in northern California for potential use.

Athena Gold was not any worse for wear after announcing Pegasus Gold had opted to drop its option on the Talapoosa gold-silver project in Nevada. After touching a low of 80 cents prior to the announcement, the issue finished up a nickel at 95 cents.

Positive results from stepout drilling on the Fortuna project in Mexico did not help San Fernando Mining, which slipped 13 cents to close at $5.25. The drilling included a 87.9-ft. intersection grading 0.12 oz. gold per ton in Hole LF-33 and a 66.9-ft. intersection grading 0.12 oz. gold in Hole LF-34. Mountain Lake Resources jumped 27 cents after announcing it has entered an agreement with Inco to acquire that company’s Indicator Lake project in north-central Quebec.

Previous work on the property by Inco identified a kimberlite pipe, as well as several kimberlite targets.

Winter drilling on the White River project in Ontario is now complete, leaving Gold Giant Minerals down 9 cents at $1.06 and Akiko Gold Resources off 4 cents at $1.31.

Hemlo Gold Mines is earning a half interest in the property from the two companies and reported drill results ranging from 0.013 oz. gold over 7.2 ft. up to 0.22 oz. gold over 1.3 ft.

Consolidated Pope Valley did well, gaining 35 cents after announcing plans to raise $10.5 million through a unit offering of a share and half a warrant at a price of $3.50 per unit.

The company plans to use the funds to advance exploration, development and acquisition of gold projects in Bolivia.

Alberta-listed Petro Plus added a nickel to finish at 40 cents. The company is acquiring four claim blocks in the Big Sandy Lake area of north-central Saskatchewan and plans to begin a ground geophysical work program immediately. The completion of drilling on the Tay gold project in British Columbia left Dalmatian Resources down 20 cents at 80 cents. The results include 0.19 oz. gold over 5.6 ft. and 0.14 oz. gold over 7.1 ft. from two holes, with further assay results pending.