Claiming top spot as the most active issue on Canadian exchanges for the week ended April 7 was United Pacific Gold (VSE). During this period, the Vancouver-based junior mining company posted a gain of 21 cents to settle at 33 cents. The trading activity is related to the company’s involvement in the Dipore tailings project in the Philippines, which is reported to have about 5,000 tons of stockpiled tailings grading 0.5 oz. gold and 8 oz. silver per ton.
Taseko Mines (VSE) remains one of the highest-priced mining issues currently trading in Vancouver. The company share price eased off by a modest 38 cents, ending the week at $14.12. The company is drilling to extend mineralization at the Fish Lake copper-gold deposit near Williams Lake, B.C. The company hopes to vend the project to a major mining mining company, and then share some of proceeds with Cominco, which has held an option on the property from Taseko for several decades.
The Alberta Stock Exchange in Calgary was busy during our report period, with the volume and value of trades well ahead of activity this time last year. Sources at this western exchange say the trading is related to a new flurry of investor interest in oil and gas ventures.
Several mining-related ventures also saw some trading action, including Naxos Resources (ASE) which reached a new high of $2.05 at press time. The company is involved in an unusual project aimed at extracting metals from an alluvial gold-silver prospect in California’s Death Valley.
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