Vancouver Stock Exchange Alotta ups nickel find

Market activity in Vancouver can only be described as lethargic and brokerage month-end has compounded matters even further. The selling out of delinquent accounts has tended to put downward pressure on stocks in an already depressed market.

Our “Made in Canada” interest rate policy, which has bolstered the Canadian dollar at the expense of commodity producers, has not only dampened enthusiasm for blue chip mining stocks but also for speculative issues as well.

Among the more active issues at press time was Windarra Minerals which inched up 2 cents to $1.32. Hemlo Gold has agreed to finance its participation in the Magnacon project in the Mishibishu Lake area of Ont. (see story). Racer Resources, which has come under selling pressure lately, was ahead 25 cents to $1.75. Racer has announced plans to amalgamate with Macrotrends Ventures. They will be getting into the computer business.

At press time the market index was down one point to 1075.9.

Over our report period, Skyline Explorations posted a $1 increase to $11.50 in light volume and Coral Gold was ahead a similar amount to $6.75. The former has been reporting some high grade values from stope mining at its Johnny Mountain property in northern B.C. Unfortunately the results have not been put into any context.

Coral has been drilling its 6,000- acre Robertson property in Nevada and at last report had outlined “possible initial reserves of five million tons, of which one million tons may be considered proven.” (Possible- proven seems like a contradiction of terms to us.)

Alotta Resources, which recently reported massive to disseminated sulphide mineralization in a drill program at its Gagne-Duchesne property in northwestern Quebec, climbed 88 cents to $1.38. Tri-Gold Industries, which has discovered significant massive sulphide mineralization on its Hanson Lake joint venture in Saskatchewan, closed the week 75 cents higher at $1.66. Arakis Mining, which recently reported a significant gas find on its Whitley Cty. property in Kentucky, also came on strong, rising 50 cents to $3.25; and Central Crude was 42 cents better at $2.68. Hemlo Gold continues to report encouraging results from the joint venture’s Eagle River property south of Hemlo.