Vancouver Stock Exchange The Pez is back with a bang

Looking at market activity in Vancouver this week, it’s safe to say “The Pez” is back. He’s been keeping a relatively low profile in the past year for personal and business reasons. Two discoveries, one in the Yukon’s Ross River area and the other 65 miles east of Timmins, Ont. have dominated market activity here recently. And both companies involved are headed up by Murray Pezim.

His Golden Nevada Resources was halted yesterday pending the release of more drill results from its Grew Creek project in the Yukon (see story). The results speak for themselves and at this point suggest a very significant gold discovery- possibly even a producer. (We are still waiting to hear from Pezim whether the discovery is “on trend” with Hemlo). This morning Golden Nevada traded at $3.50 in heavy volume (537,800 shares), representing a 71 cents gain from last week.

Pezim’s Destiny Resources climbed 38 cents today in respectable volume and traded at $5.88. Over our report period the stock was ahead $3.75 and it was also the volume leader with a turnover of 2.5 million shares. Results from Destiny’s Windjammer property in the Timmins area have also been impressive. One recent hole averaged 0.27 oz over 31.2 ft. Moneta Porcupine has also hit ore grade values on its nearby property which are associated with the Porcupine-Destor fault, a major structural control in the Timmins camp.

Another Pezim Group company, Norman Resources, didn’t fare quite as well. The stock was 4 cents lower at 45 cents today in moderate volume. At last report , Norman was negotiating a property near Golden Nevada’s Grew Creek discovery.

Over our report period Severide Resources jumped 70 cents to $1.60. The company recently completed three phases of exploration on its Keezhik Lake property in northwestern Ont. Noramco mining is also involved in the project. Anooraq Resources shot up 65 cents to $1.70 on news it had commissioned a feasibility study for its rhodonite property in the Yukon. What’s rhodonite? It’s a manganese silicate which is used as ornamental stone and gemstone.

Hemisphere Development, which is involved with Aber Resources in a significant polymetallic discovery in the N.W.T., closed the week 45 cents stronger at $1.85. Aber was unchanged at $2.15. Drilling was scheduled to resume on the property today.