Vancouver Stock Exchange Investors in a cautious mood

Some investors are feeling uneasy about upward-trending interest rates and the potential impact on the market so they are trading cautiously. Also, with many seasonal exploration programs winding down, market liquidity for speculative stocks could be sharply reduced in the coming months. Many astute investors are scaling out and they will probably buy back in over the winter months when the stocks are cheaper.

The Vancouver market has been see-sawing back and forth lately much like Toronto and New York. At presstime, the vse index was three points higher at 1,913.1 with declining issues slightly ahead of advances in good volume.

Among the more active issues today was Quartz Mountain Gold which was unchanged at $6.13. The company’s gold property in south- central Oregon falls under a joint venture agreement with high-flyer Galactic Resources. Quartz Mountain’s stock will start trading on nasdaq Sept. 17.

La Teko Resources came on strong in slightly lower volume, climbing 85 cents to $3.75. The company is producing gold from its Ryan Lode property six miles northeast of Fairbanks, Alaska. Black Swan Gold, which will officially open its Gabanintha gold mine in Western Australia Oct. 30, was 50 cents better at $12.50. The company has developed quite a following in recent years but it’s also delivered the goods.

Silver Hart has come to life and by presstime the stock had gained 20 cents to $4. The company has been stripping a gold zone on its Snow Lake property in Manitoba. Channel sampling has yielded some encouraging gold values.

Over our report period 2001 Resource Industries posted a $2.05 cents increase to $3.75, one of the largest gains of the week. The company recently placed 400,000 shares with DG Bank (Switzerland) at $1.25 per share. It has a platinum property in the Wellgreen area north of Whitehorse. Cornucopia Resources ended the week $1.13 higher at $8.13. At last report three drills were operating at its Ivanhoe project in north- central Nevada.

Pak-Man Resources, which also has ground in the Wellgreen area, jumped 75 cents to $6 and Skyline shot up 64 cents to $14.64. Skyline expects to produce its first dore bullion from its Reg property in the first quarter of 1988. Kam Creed was the volume leader over our report period with a turnover of approximately 1.6 million shares. The stock was ahead 36 cents to $2.04.