Vancouver Stock Exchange (June 27, 1988)

Trading volume has slowed considerably in the face of higher interest rates, a stronger Canadian dollar, and weaker gold prices. Many people were hoping that Huntington Resources Brett discovery near Vernon, B.C. would spark a rally but it hasn’t yet. At presstime the VSE index was off 1.5 points to 1077.4 with declining issues outpacing advances by a narrow margin. Huntington’s stock dropped to $2.45 on Tuesday but it recovered a bit today and traded at $2.75. Epithermal gold deposits are often difficult to evaluate and underground exploration will probably tell the story on this one. Brican Resources, which has ground near the Brett property, piggy-backed on Huntington’s success but it’s also come down to earth and today the stock was 92 cents .

Among the more active issues at presstime was Volcano Resources which was 3 cents better at 40 cents on 805,000 shares. At last report it was planning to purchase a 20% interest in a placer gold mine in Columbia. Colossus Resources Equities, which controls Delaware Resources, was ahead 38 cents to $5.13 and Macmillan Energy jumped 25 cents to $2.60. Delaware has been reporting some exceptional results from its SNIP property near Stewart. Colossus seems to have lagged behind Delaware which yesterday closed at $22.

Diamond drilling recently confirmed ore continuity to a depth of 1,460 ft at MacMillan’s Mishibishu Lake project in Ontario. Granges Exploration is operator.

Tundra Gold was ahead 10 cents to $1.65 today. Besides being involved in the Lamaque mine property, Tundra has ground at Mishibishu southwest of the Magnacon discovery.

Over our report period Castello Resources posted a 90 cents increase to $2.10. The company has a 25% interest in a Louisiana oil field that is being drilled by Phillips Petroleum — successfully it appears. Fairchild Resources closed the week 45 cents stronger at $1.80 and Skyline Explorations inched up 38 cents to $15.25. Fairchild has placer mining claims in Nevada’s Battle Mountain area and a placer lease in the Bridge River area of B.C. Golden Trend Energy was a heavy trader, gaining 39 cents on a volume of 990,000 shares.