Vancouver Stock Exchange Settlement date unsettling

There might be a little “Christmas Cheer” on the floor of the Vancou ver Stock Exchange but it’s not because the market is all that positive. Despite the pressure of Christmas shopping, investors still have to settle up with their broker and that settlement date has tended to depress stocks along with the usual loss selling. The recent strength of New York and Toronto markets was more technical in nature than anything and the impact on Vancouver has been minimal, to say the least.

Over our report period, Galveston Resources jumped $1.70 to $5. A few days ago, the company announced plans for a joint venture with Noranda Exploration on a Nevada gold property. More than a quarter of that gain was made Monday. Massive Energy was ahead 65 cents to $3.70 and Lady Robyn a similar amount to $4.55. At last report, Massive had acquired an exclusive option to purchase control of Twin Gold Mines and it’s Lingman Lake property in northwestern Ontario. Lady Robyn, which has interest in the oil and gas sector, announced plans two weeks ago to drill a well in the Otter area of Alberta. Government incentives are starting to help that ailing industry.

Also gaining 65 cents was Consolidated Gold Standard which closed the week at $2.35. The company says it has filed all the necessary documents to acquire strategic industries, a private Dallas-based company. Meanwhile, High River Resources shot up 40 cents to $1.55. The company has claims adjacent to the Canamax-Pacific Trans Ocean gold project in the Ross River area of the Yukon.

New listings for the week included: Elan Industries (formerly Palliser International), Archer International Developments (formerly Archer Minerals), Ican Minerals (formerly Ican Resources and Canu Resources), MDI Mobile Data, Maverick Naturalite Beef (formerly Brentwood Resources), Lightning Creek Mines (formerly Western Arlington Resources), Image West Entertainment (formerly International Santana) and H.E.R.O. Industries (formerly Crimson Tide). VSE short positions:

The Vancouver Stock Exchange reports a short position of 4.5 million shares and warrants as of Dec 12. Some of the larger positions included: Quartz Mountain Gold, 410,300, Westlake Resources, 185,000, Windarra Minerals, 136,000, Regal Petroleum, 113,500 and Hawk Resources, 111,200.