Vancouver Stock Exchange Gold’s decline slows stock trading

Even well-publicized tales by local press on the incredible riches of the newly-discovered “Lost Lemon mine” in Alberta failed to ignite gold fever, with the prevailing reaction being a quick check of the calendar to see if perhaps April Fool’s day came early this year. At press time the VSE Index was off 3.42 points to 821.17, down 9.94 points from a week ago.

Calpine Resources was among the more active gold issues today, dropping 34 cents to $1.71. Prime Resources announced its intent to acquire all of Calpine’s shares along with those of Canacord Resources. Prime is also seeking control of Consolidated Stikine Silver, Calpine’s partner on the Eskay Creek project in northwestern B. C. Stikine slipped $1.18 to $10.38.

Dragoon Resources climbed a further 15 cents to $2.80. The company has been an active trader in recent weeks due to interest in its diversified joint-ventured projects in southeastern British Columbia with Greenstone Resources. There has also been some talk that the two companies might be considering a closer corporate relationship.

International Impala Resources, a Prime Capital company drilling its Pacquet gold project in Newfoundland, was also active, off 7 cents to 35 cents .

Athabaska Gold Resources was among the gold issues losing ground over our report period, dropping 35 cents to $1.47. Fircrest Resources, working a mineral project near Terrace, B.C., was among the busier issues over our report period, gaining 15 cents to $1.98. Continental Gold, which has been heavily promoting its Mt Milligan property to mixed reviews, lost 30 cents to $3.70. Results for both copper and gold have generally been disappointing yet the company is talking some 200 million tons of “reserves” or more.

Athena Gold Corp. also moved ahead, climbing 34 cents to $1.39. The company is under way with a second phase program on its Talapoosa gold property in Nevada. Seven Mile High Resources and partner Inco Gold announced a new $1.2 million program for the Vault claims near Okanagan Falls, B.C. The issue gained a nickel to $1.60.

American Pacific Mining, which operates a base metals mine in Honduras, moved up a nickel to $4.50. Base metal-miner Curragh Resources is presently reviewing the company’s operations with a view to acquiring an equity interest in the company.

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