Vancouver Stock Exchange New discovery adds some sparkle

There’s nothing quite like a new discovery to add some sparkle to a market — especially one that’s so close to home. The big news this week of course is the Minnova/Rea Gold find north of Kamloops, B.C. which has some real production potential.

Although the discovery is probably not large enough to impact on Minnova’s share price, the story has been different with Rea Gold. Over our report period the stock climbed $2.37 to $5.12 and it hit $6.75 at one point today. Without a doubt, it’s one of the highest grade, polymetallic mineral discoveries in recent memory and it hasn’t been fully delineated.

Companies with property in the area have also reacted to the news. Among the movers today were Apex Energy which was 40 cents stronger at $1.30 and Kamad Silver, 30 cents better at 75 cents . They border the Rea Gold property to the south. Algo Resources to the southwest was ahead 11 cents to 82 cents and Celebrity Energy to the northwest jumped 17 cents to 28 cents although it reached a high of 38 cents during the day. Omni Resources, which has a large adjacent land position to the east, inched ahead 5 cents to $3.75 and Clifton Resources shot up 20 cents to $1.

Posting a $2.25 increase to $6.75 over our report period was Acquisitor Mines which recently acquired a 100% interest in a company with platinum group metal properties in the Ungava region of Quebec. Tundra Gold was active again this week and tacked on 75 cents to $6.88. The company recently concluded an agreement for $750,000 in flow- through funds which will be used for exploration work at its Val d’Or gold property. Alotta Resources, which has been reporting some encouragement from its Mineral zone project in Idaho, was 73 cents stronger at $3.50.

Newhawk Gold Mines, which has drilled over 5100 ft in 50 holes on its Sulphurets gold project since May 7, ended the week 63 cents better at $6.13. The shallow drilling program has been yielding some encouraging results including one intersection that averaged 1.9 oz gold over 11 ft. Winslow Gold was the volume leader with a turnover of approximately 1.5 million shares and it closed at $2.12.

New listings for the week included: Diaem Resources, Lexington Resources, Gold Ridge Resources, Winslow Gold, Montello Resources, Faith Mines, Greentree Energy, Tantato Resources, and Siemont Resources.