Vancouver Stock Exchange Guinness rises

The VSE market adage “buy on mystery, sell on history” proved to be the case over our report period as attention shifted away from exploration activity in northwestern British Columbia to an area north of Chicoutimi, Que., where recent surface trenching is reported to have uncovered significant nickel- copper mineralization. The property hasn’t yet been drilled, but brokers here say the discovery may prove to be important and should be watched.

In any event, keen interest in the area and the promotional abilities of brothers Eugene and Frank Sirianni were clearly reflected in the share price of St. Phillips Resources which gained a further 40 cents to $3.65. The company has a 30% interest in the Lac St. Jean property where the original discovery was made, and has also taken control of Ramcor Resources, which holds a 10% interest. Ramcor gained 17 cents to 55 cents .

A number of other juniors active in the area also posted good gains. Diana Resources climbed 16 cents to 25 cents while associated company Fancamp Resources moved ahead 13 cents to 25 cents . We hear a lot of the buying has come from Toronto brokerage firms. The companies have optioned their property to Yellow Band Resources which will be the operator.

Rococco Resources, active on mineral properties near Clinton, B.C., gained a further 18 cents to 73 cents , however we gather recent interest is attributed to the company’s efforts to diversify into a non- resource venture.

Benton Resources jumped 59 cents to $1.75 after announcing it is negotiating to acquire a mining property near Battle Mountain, Nevada.

Highly promoted Continental Gold posted a large gain of $1.10 to $5.25 on results from step-out drilling at its Mt. Milligan copper-gold project in B.C. The latest holes are some of the better ones so far and include 664.9 ft of 0.31% copper and 0.024 oz gold and 555.3 ft of 0.31% copper and 0.12 oz gold.

Nor-Quest Resources gained 20 cents to 52 cents , although it can’t account for the recent trading activity in its shares. The company says it is drilling a property in Costa Rica “but no data is yet available”.

Calpine Resources slipped 4 cents to $2.05, while Roxana Resources, active in the oil and gas industry, plummeted $1.54 to 95 cents .

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