Vancouver Stock,Exchange

With the Christmas season at hand, it was indeed quiet and peaceful on the western front. Even speculation on what 1989 may have in store is taking a back seat to Christmas activities and merry-making. But brokers appear to be looking with optimism to the year ahead, in spite of worries that higher interest rates may be the weapon used next year to keep inflation and consequently a growing economy in check. But all that aside, the VSE Index managed to gain 1.32 points to 761.74 at press time, with 191 advancers, 159 decliners and 392 issues unchanged. NCA Minerals, involved in several gold projects in the western U.S., was up 2 to 47 , while a private placement gave TRV Minerals a boost of 2 to 27 . Gigi Resources, a Prime Capital company active in the Iskut River area of B.C, gained 1 to 20 . Other active issues at press time were International Dorado, ahead 2 to 57 , and Edgemont Resources, up 5 to 25 .

Calpine Resources was once again the busiest trader over our report period, although the issue slipped 28 to $2.22. The company has now earned a 50% interest in the Eskay Creek project in northwestern B.C. where a second phase drill program is continuing to confirm the potential of the gold project. Joint venture partner Consolidated Stikine Silver posted a sizable gain of $1.63 to $8.38, amid rumours that Murray Pezim was very interested in acquiring the company.

Adrian Resources, another Prime Capital company active in northwestern B.C. near the Eskay Creek property, gained a further 8 to 47 . Consolidated Goldwest Resources, which recently came into the Prime Capital fold, posted a 24 gain to 65 . A spokesman for Prime said “big plans” are in the works for this company which is now negotiating for a property in the Iskut River camp of B.C.

Vananda Gold and partner Freeport McMoRan released results from a drill program on their joint- ventured Texada Island project near Vancouver. Initial results were impressive and included 13.5 ft of 0.772 oz gold, 2.31 oz silver and 3.04% copper, although Vananda slipped 7 to $1.21.

Consolidated Jalna Resources, active on several gold properties in Ontario and Manitoba, gained 31 to 89 , while last month’s high-flyer, War Eagle Mining, slipped a further 4 to 96 .