Vancouver Stock Exchange Pezim Group back in the limelight

News of an important looking gold discovery southeast of Faro, Yukon, has pushed several Pezim Group stocks into the limelight including Golden Nevada Resources. The man friends and foes alike call “The Pez” has sent more than a few short sellers scurrying for cover in the wake of what could be the Yukon’s biggest gold find in years (see front page story).

Over our report period, the stock was ahead $1.05 to $3.85 on a volume of 1.4 million shares. By presstime, however, it was trading lower at $3.45 in very heavy volume. Midland Doherty was a big seller in Vancouver early this morning, in a one minute period it crossed several hundred thousand shares which obviously helped drive the price down.

All the strategically located ground on trend with the discovery has been tied up by Pezim Group companies so many of these stocks have been quite active too. Wildfire Resources traded at 26 cents today and Mintel International hovered at 40 cents as did Norman Resources. Hemlo Explorations traded at 90 cents and Halcyon Resources was $1. Argo Development sold for $1 and Baywest Capital (which is not a Pezim Group company but is in the area), was 26 cents .

Bar Resources was also active today, rising 44 cents to $1.51. The company has a 20% net profits interest in Cominco Resources Buckhorn mine in Nevada. Yesterday Cominco reported another high grade hole from the West Sinter zone which graded 0.8 oz gold over 165 ft uncut. In about half the volume, Delaware Resource Corp climbed $1.13 to $8.87. Cominco Ltd is planning a major underground program at the Cominco/Delaware SNIP property this winter. SNIP is a major new discovery in the Iskut River area of British Columbia.

Skyline Explorations was a big winner over our report period, jumping $2.63 to $12.38. The company now expects to have its Reg property in production during the second quarter. Gold Texas also showed some strength, closing the week $1.05 higher at $4.85. The company has reported encouraging results from its Washington state gold property, a joint venture with Echo Bay Mines.