Vancouver Stock Exchange Gold’s slump doesn’t slow trading

Brokers are taking note of healthy trading interest in Toronto and New York and some feel that when the U.S. dollar turns down (which many expect will happen soon), gold should bounce back and put the zip back into Vancouver’s gold issues. At press time the VSE Index was down marginally to 831.11, down 9.15 points from a week ago.

Non-resource issues were dominating trading activity at press time, but among the resource companies War Eagle Mining was up 5 cents at $1.60 and Rococco Resources was ahead 4 cents at 33 cents . Shoshoni Gold, which is acquiring a 75% working interest in a claim group near the Blackdome mine in British Columbia, gained 17 cents to $1.07. The company says recent work on the property has indicated numerous anomalies along a north-east trending fault structure parallel to that of the Blackdome mine area. Omni Resources, was flat this week and off 1 cents to $1.06. Nobody knows what’s happening at its Skukum Creek project and the company hasn’t returned our calls.

MacNeil Industrial was among the more active issues over our report period, gaining 20 cents to 63 cents . The company is working a property in the Bralorne gold camp of British Columbia and we gather the project has caught the interest of European investors. Whirlwind Resources, said to be finalizing a property acquisition in the Iskut River area of B.C., gained 20 cents to 70 cents in active trading.

Bakra Resources climbed 24 cents to $1.74 after announcing 61 ft of 0.18 oz gold, including 31 ft of 0.32 oz, from the core of the A-zone on its Sannorm property located about 1.5 miles from the Bissett mine in Manitoba. The company says an extensive and potentially open- pittable low-grade envelope surrounds the zone.

And Canadian-United Minerals moved ahead 6 cents to $1.17 after announcing that step-out drilling on the Fireweed polymetallic project near Smithers, B.C. had intersected a second mineralized horizon.

Athabaska Gold Resources, working a promising gold property in the Northwest Territories, climbed 23 cents to $1.83 while Calpine Resources gained a further 11 cents to $2.36.

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