Vancouver Stock Exchange Significant drop in volumes

With gold prices remaining flat, trading activity on Vancouver has dropped significantly along with share values. But this could change quickly if the yellow metal stages a rally which is possible when the next U.S inflation statistics come out. The threat of higher inflation has been reflected in base metal prices lately but the impact on Vancouver has been negligible. Few companies are exploring for these metals unless there is a significant gold credit as well.

Among the more active issues today was Alotta Resources which was ahead 13 cents to $2.90. The company has been reporting encouraging gold assays from its Mineral Zone project in Idaho. Alotta recently concluded a $500,000 flow- through financing for its gold property in the Val d’Or area.

In lower volume, Mikado Resources was 30 cents better at $2.10 and Tropicana Resources was ahead a similar amount at $2.00. Mikado will be issuing shares and warrants for a total consideration of $430,000. The money will be used to fund exploration work on its mineral properties. Tropicana recently agreed to acquire a 49.9% interest in a California real estate firm.

Night Hawk was front and center again this week after a control change. The stock was 31 cents stronger at $2.50. Mel Shultz is the new president and promoter Nedo Bragagnolo a director.

Over our report period, Skyline Explorations posted a $1.36 increase to $15. The company has awarded the contract for mill construction at its Reg property north of Stewart, B.C. Technigen Platinum, which is involved with Equinox Resources in a major exploration play for platinum group metals, was also $1.36 higher at $11.25.

Rea Gold (see front page story) climbed 86c to $2.75 after some spectacular drill results were released from its Adams Plateau property near Kamloops. Minnova Inc. is operator. Applied Energy, which has just finalized a private placement for $2.5 million, jumped 70 cents to $2.85. The money will be used to develop its oil and gas reserves and implement an advanced oil recovery system. Rampart Resources ended the week at $1.70, representing a 30 cents gain. The company recently concluded a $500,000 private placement “for general working capital purposes.”

Canadian Futurity was the volume leader over the period with a turnover of 2.1 million shares for a 3 cents gain to 63 cents . The company operates over 350 wells in Saskatchewan and is one of the major operators in the Kindersley area.

New listings for the week included: America West Capital, Cominco Resources International, WCN Investment (formerly Trafalgar Resources), Kowkash Gold, Crest Resources, Shayna International (formerly Proven Resources), Royal Scot Resources (formerly Scottie Gold Mines), Crew Minerals, Australian Gold Mines, and Diaem Resources.