Vancouver Stock Exchange Brokers still bullish on gold

But many brokers here remain extremely bullish on gold, saying it is only a matter of time before inflation rears its head in this gang- busters economy (despite efforts to cool it down by high interest rates). And when and if it does, they say one of the main beneficiaries will be gold bullion and gold issues.

At press time the VSE Index was off slightly to 822.11, but down 6.82 points from a week ago.

Rococco Resources was among the more active mining stocks at press time, up 2 cents at 49 cents . The company has acquired an additional mineral property near Clinton, B.C., a busy region of late with a number of companies (including Inco Ltd.) said to be looking for epithermal gold deposits.

MacNeil Industrial gained 1 cents to $1.13 after a recent private placement. The company has been receiving good results from its gold property near Lillooet, B.C.

Over our report period, Murray Pezim’s Calpine Resources was once again among the active traders, with a good portion of the buying coming from a number of Prime companies. Calpine dropped 24 cents to $2.35 while Prime Resources, which now says it won’t be acquiring all Calpine’s shares, dropped 15 cents to $3.90. Calpine’s joint venture partner, Consolidated Stikine Silver, gained 38 cents to $14.13.

Nu-Lady Gold says it is still acquiring a lead oil and gas technology company and can’t explain the recent drop of 48 cents to 15 cents in its share price. Suntac Minerals was also active, although losing 19 cents to 60 cents . The company is exploring the old Polaris Taku mine in northern British Columbia.

Sun River Gold moved ahead 2 cents to 72 cents on good volume after announcing it placed a loan of $6.0 million to bring its United Western gold mine in Arizona into production at 400 tons per day.

Dragoon Resources, active on about 15 B.C. projects (both gold and base metals) with Greenstone Resources, climbed a further 58 cents to $3.50. We gather institutional buying is generating the recent activity.

Inter-Globe Resources which has a 30% interest in a Nevada property being considered for the production of vanadium, gained 5 cents to 50 cents .

Skyline Gold gained $1.00 to $7.25, with most of the buying reported to be coming from the company itself. Black Swan Resources, which announced plans to acquire an Australian exploration company, gained 9 cents to 55 cents . The company already is active Down Under where it has a 25% interest in a producing gold mine.

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