Vancouver Stock Exchange (January 27, 1992)

Both the VSE composite index and resource index continued to gain ground during the period ended Jan. 21. The composite index added 14.38 points to close at 600.15 while the resource index edged up by more than nine points, finishing at 525.68.

Taseko Mines hit a high of $12.12 before settling at $11.75 for a gain of $2. Robert Dickinson, president of the company, noted there are no material changes in the company’s affairs. He said the company is not currently in negotiations for the sale of the Fish Lake property in British Columbia. Following last year’s drilling program, preliminary estimates put reserves at about 600 million tons grading 0.32% copper and 0.016 oz. gold per ton at a 0.4% copper-equivalent cutoff grade. Dickinson said he expects to see the project developed as the largest mining operation in the province. Dia Met Minerals continued its upward march, jumping 88 cents to close at $8.88. The company recently announced that there are no material changes which could account for the increase in its share price; speculation surrounding the company’s diamond prospects with BHP-Utah Mines in the Northwest Territories is almost certainly the cause. A unit of De Beers was recently reported to have staked a large amount of ground in the area, which likely added additional fuel to the speculative fire.

Not to be left out, Quattro Resources also said it was unaware as to why the trading activity and price of its shares have increased recently. Quattro finished the week with a gain of 60 cents at $1.60, up substantially from the 40 cents level at the start of the year.

The withdrawal of Asarco from the Col copper-gold porphyry property northwest of Prince George, B.C., did not seem to hurt Kookaburra Gold, which posted a 25 cents gain over the week to finish at 85 cents. Kookaburra is seeking a new joint venture partner for the Col project and is now concentrating on developing its Longshot Ridge property in Nevada. The property was last reported to contain preliminary reserves of 15 million tons grading 0.55% copper.

Digger Resources shed 50 cents to finish at $3.75. The company recently reported there have been no material changes since its November, 1991, release which stated the company was in negotiations with a major mining company concerning funding for exploration of its Chuchi Lake copper-gold property in north-central British Columbia. The project is equally owned by Digger and BP Canada.

Trading activity in International Musto Exploration prompted the company to release a statement noting there are no material changes in company affairs other than the recent agreement to develop the Bajo de la Alumbrera project in Argentina. The issue reached a high of $8.50 before settling at $7.50 for a gain of $3.20. Musto plans to begin a feasibility study shortly on the project. Preliminary estimates put reserves at about 340 million tons grading 0.5% copper and 0.018 oz. gold.

Plans to begin drilling on the Arc claims in southern British Columbia helped boost partners Barkhor Resources and Chapleau Resources. Barkhor closed up a nickel at 24 cents. Chapleau followed suit, adding 5 cents to reach 20 cents on more than 870,000 shares.