Vancouver Stock Exchange Gold holds on to its recent gains

Wednesday close, August 27

Prices on Vancouver have firmed somewhat which is not surprising given the fact gold has managed to hold onto some of its recent gains. The Vancouver market is heavily biased towards gold although industrial sector stocks are becoming more important in terms of market activity and performance.

At presstime Ravenrock Resources was 21 cents higher at $1.06 on a turnover of 210,399 shares. This is a Pezim Group company with holdings in the Hemlo area and also a significant equity interest in Royex Gold. New Beginnings was also very active, rising 8 cents to $1.03, and MacMillan Energy was ahead 25 cents to $1.70 in lower volume. New Beginnings recently announced drill results from its Sumick mine in Nevada, with one hole returning 0.24 oz gold over 26.4 ft.

MacMillan Energy says ore grade material over mining widths has been encountered on its Mishibishu Lake property, in northwestern Ontario. Values included 12.8 ft of 0.266 oz gold. Granges Exploration, which can’t seem to put a hole down without getting gold in it, is operator.

Moving higher, but in lower volume, was Delaware Resources, which gained 10 cents to $2.15, while Seatac Resources was 7 cents stronger at $1.66. Over our report period New Beginnings was the most active issue, dropping 1 cents to 95 cents on 988,300 shares. Ravenrock was up 25 cents to 85 cents in heavy volume and Sphinx Mining slumped 44 cents to $1.30.