Vancouver Stock Exchange Market ignores base metals prices

There’s really not too much excitment here at present. Stocks are generally trading within narrow ranges and firmer gold prices have generally been greeted with a big yawn. By presstime the VSE index was off 1.2 points to 1855.1 with declining issues outpacing advances by a narrow margin.

Higher base metal prices have not yet impacted on Vancouver but they could which would add a whole new dimension to the market here.

In active volume today Lightening Creek was ahead 9c to 99c. and Capella Resources jumped 8c to 53c. Lightening recently concluded an option agreement for Dia Met Minerals Golden Bear property in the Dease Lake area of B.C. At last report, Capella had purchased a Texas company which has an exclusive oil reclamation process.

Posting significant increases in somewhat lower volume were Cove Energy and Nuspar Resources. The former was 8c stronger at 82c while Nuspar was up 3c to 30c. Cove recently acquired claims in the Liard mining division of B.C. for cash and shares. Nuspar says it has signed “letters of commitment” with a limited partnership for $1.6 million. The funds are to be used for exploration its Chute Creek coal properties.

Over our report period, Pacific Kenridge, which is the subject of a reverse takeover bid, tacked on $1.75 to $6.25 and Consolidated McKinney ended the week $1.29 better at $3.55. McKinney recently completed a promotional video on its Carissa mine in Wyoming which was to be distributed in the U.S and Europe.

Tundra Gold, which has been funding a major exploration program on Teck’s Lamaque mine property, jumped 88c to $5.88 while Hedley Pacific Mining, soon to be controlled by Golden North and Mascot Gold, shot up 75c to $2.25. Grandview Resources, which has a gold heap leach mine in California that is reaching production capacity was also up 75c to $12.25. New listings for the week included: Runaway Resources, Sun Entertainment (formerly Vault Explorations), Shane Resources, Bema International Resources, American Girl Resources, Barkhor Resources, National Fuelcorp (formerly Glory Explorations), Kaphearst Resources, Samarkand Resources, Compass Resources (formerly Medallion Explorations), Altec Development, and Cominco Resources International.