The holiday season took the steam out of the Alberta Stock Exchange this week as few issues showed any major gains. Golden Star Resources gave up some ground to $2.70 following a period of gains which put the issue over $2.80 last week.
The renewed interest in the company came about following announcement that Placer Development is optioning Golden Star’s Omai gold property in Guyana. Placer must place the property into production in order to earn its interest.
Pan East Resources was also on the losing side, giving up 19 cents to $2. The company is active in gold exploration in the Maritimes. Northfield Minerals added a nickel to $1. The company has acquired options on several large exploration properties west of Kerr Addison Mines’ Virginiatown gold mine near Larder Lake, Ont. Affiliate company Northern Ranger Oil remained quiet at 55 cents . The company is also involved in the Larder Lake programs.
Other stronger issues include Prairie Pacific Energy up 15 cents to $1.05 and Van Horne Gold, which added 30 cents to $1. Van Horne is active in the Pickle Lake and Opapimiskan Lake areas in northwestern Ontario. Prairie Pacific holds a 70% stake in Citadel Gold Mines. The latter company, which traded at $3.75, controls the old Pursides gold property near Wawa, Ont.
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