MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — VSE revives as juniors gain ground

The Vancouver Stock Exchange composite index closed at 435.48, up 5.63 points, or 1.3%, for the week ended April 20. The mining index climbed 9.77 points, or 3.23%, and closed at 312.51.

Meanwhile, the combined value of the Alberta Stock Exchange tacked on 60.54 points, or 2.89%, to finish the week at 2,152.21.

Pan Asia Mining rocketed 27 cents and closed the week at 57 cents. The company is putting the finishing touches on several financing deals aimed at raising $4.8 million. Proceeds will be used to start up the underground 701 diamond mine in China.

A Richard Clark and Simon Ridgeway company, Orinoco Gold, saw its shares soar 20 cents and close at 70 cents. Orinoco has the right to acquire a 100% interest in E-Stores Direct, which launched a second e-commerce store selling boxes of Cuban cigars and accessories over the world wide web.

Adamas Resources shot up 9 cents and closed at 14 cents. The company is eyeing greener pastures in the high-technology sector and says it is focused on internet opportunities.

Auspex Minerals and partner International Vestor Resources continue to cut good grades on the 12,000-metre infill drill program at the Feitais deposit in southern Portugal. Auspex tacked on 15 cents and closed at 60 cents, while Vestor closed at 70 cents, up 16 cents.

Cypango Ventures rose 4 cents and closed at 14 cents. Joint-venture partner SouthernEra Resources, listed on the Toronto Stock Exchange, is exploring for kimberlite targets at the Yamba Lake claims, immediately north of the Ekati claims in the Northwest Territories. The program will consist of airborne and ground geophysics and entail drill-testing prospective targets. The property is a partnership among Alberta-listed Tanqueray Resources, (19%), Mill City Gold International (19%), Cypango (11%), and SouthernEra (51%). Tanqueray closed at 33 cents, up 11 cents, whereas Mill City closed at 16 cents, up 2 cents.

Meanwhile, Orko Gold and partner TNR Resources initiated an 8-hole, 1,500-metre program of reverse-circulation drilling on the 54.5-sq.-km La Ortiga gold-silver property in northwestern Argentina. Drilling will target breccia and silicified zones. Orko, which stands to earn a 60% interest in the property from TNR, jumped 50 cents and closed at $1.45, while TNR tacked on 5 cents and closed at 27 cents.

Argentina Gold closed at $7.10, up a dime. The company tabled an updated resource estimate for the Amable and Filo Federico targets on the Veladero property in northwestern Argentina. The Vancouver-based junior also announced that its special shareholders meeting to vote on Homestake Mining’s takeover bid will be held April 27.

Francisco Gold added $1.70 to its value and closed at $12.95. The company released assay results from nine additional diamond drill holes on the El Sauzal gold project in Mexico’s Chihuahua state. Drilling has expanded the West zone’s resource block.