Vancouver Stock Exchange A see-sawing, speculative market

Wednesday close, Dec 10

The market has been see-sawing back and forth lately, which is not related to the recent settlement in B.C.’s logging industry.

But that settlement should improve the provincial economy and create some disposable income again which is certainly a prerequisite for participating in this highly speculative market. At presstime the market index was down 4.8 points to 1362.1 and trading volume was fairly heavy at six million shares.

Among the more active issues was Newfields Minerals which was ahead 35 cents to $3.75 on 265,990 shares. At last report, the company had three drills operating on its Kirkland Lake, Ont., gold property. Skyline Explorations was busy also but 13 cents lower at $6.25. Former Cominco Chairman Norman Anderson recently joined Skyline’s board — a move that is obviously designed to enhance the company’s credibility. Ashburton Oil has turned active and was 1 cents higher at 41 cents . Apparently the company is acquiring some ground near the Skyline property.

Over our report period Renox Creek came out of the blue and climbed $1.30 to $2.85 while Goldenbell closed the week 60 cents stronger at $4.25. Goldenbell recently decided to develop its Pine Tree gold project in California (N.M. Dec 8/86). Coral Energy was also up 60 cents , this time to $2.93. It has property in the Bridge River area of B.C. and some other mineral holdings in the U.S. and Mexico.

Bentley Resources, which last month said it was seeking production financing for a gold mine in California, rose 49 cents to $1.44 while Atlanta Gold managed a 45 cents gain to $4.40. The company is doing a preliminary feasibility study on its Idaho gold property. Berle Resources was the most active issue, with a turnover of 2.8 million shares, and it was ahead 32 cents to 46 cents .

New listings for the week included: Tchaikazan Enterprises (formerly Ashcroft Resources), Enerteck Energy Technologies (formerly Magnus Resources), International Burgers Now (formerly Hi-Cor Resources), Angle Resources, Wescap Enterprises, Teal Industries (formerly Teal Minerals), Madison Holdings (formerly Iris Resources) and Makus Resources. VSE Short Positions

The Vancouver Stock Exchange reports a short position of 4.7 million shares and warrants as of Nov 28, 1986. Some of the larger positions included: Quartz Mountain, 403,600, Galactic, 200,000, Med-Tech Systems, 159,700, Westlake Resources, 149,600, and Windarra Minerals, 139,000.