Vancouver Stock Exchange VSE index nears all-time high

The Vancouver market hasn’t been quite as volatile as New York and Toronto but it’s been climbing steadily and is now within 18 points of its all-time high. Lower interest rates, stable gold prices, and a burgeoning industrial sector have all helped to maintain this momentum.

At presstime the market index was ahead 1.1 points to 1,453.1 and volume was heavy at 7.1 million shares. The turnover on Tuesday was 17.6 million shares. Harlin Resources was very busy today with a turnover of 737,500 shares, the result of a unit offering. The stock was ahead 1 cents to 39 cents . Harlin has property in the Hemlo area and also ground in Northwestern B.C. near the Dome Mountain discovery.

Delaware Resources, which has ground near Skyline Exploration’s Reg property in the Stewart area, climbed 45 cents to $3.35 and Severide Resources was 25 cents stronger at $3.50. Severide has reported encouraging gold assays from its Lac Short property in Northern Quebec.

Over our report period, J.R. Energy was the volume leader with a turnover of 2.8 million shares for a 63 cents gain to $1.30. The company has announced plans to acquire real estate properties in the U.S. for shares. Murray Pezim’s Galveston Resources shot up to $3.75 to $22, he is reported to be in Europe drumming up support for a takeover of International Corona, a longshot if there ever was one. Trafalgar Resources, which is taking an equity position in a company that markets communications equipment, was $2.55 better at $3.85. Breakwater Resources was 37 cents higher on the bid over the report week. Company Chairman, Robert Hunter would like to retract the statement he made about the Hong Kong bank in our Feb 2 issue.

New listings for the week included: Odin Industries (formerly Inter-Oceanic Resources, Jazzman Resources, Global Data, Hyperion Resources, Dalmatian Resources, Insecta Research, Wonder Marine Resources, Quail Ridge Winery Napa Valley, Southlands Mining, Omoco Holdings, and American Lightwave (formerly Bahama Resources). VSE Short Positions:

The Vancouver Stock Exchange reports a short position of 3.9 million shares and warrants as of Jan 30/87. Some of the larger positions included: Skyway Resources, 137,000. Armor Development Corp., 132,400, Regal Petroleum, 125,500, Cardinal Mineral Corp., 122,000, and Happy Resources, 103,500 .