Vancouver Stock Exchange: Sliding gold prices not severe

Wednesday close, Nov 19 The impact of lower gold prices on the Vancouver Exchange was probab ly less than expected because non-resource stocks are beginning to play a larger role in the market. This has tended to offset some of the effect of declining gold prices. The VSE was off 25 points yesterday, reflecting the drop on New York and Toronto, both of which are still under pressure.

The market index was down another 6.7 points to 1396.9 by noon today althoug h several stocks posted significant gains. Skyline Explorations was 45 cents higher at $3.20 after coming under heavy pressure earlier in the week. The company has been reporting high grade gold values from its Reg claim group, north of Stewart, B.C. Polestar Explorations, a new listing, traded at $1.50 which was 50 cents above the price of is recent offering while Ceasar Resources went the other direction, dropping 7 cents to 85 cents . At last report Ceasar was negotiating the acquisition of another company — Audre Inc.

International Sterling posted one of the more respectable gains over our report period, rising $1.30 to $4.55. At last report the company was negotiating an oil property in Texas and also the acquisition of a Toronto-based firm involved in digital animation. Lady Robyn closed the week 65 cents stronger at $3.80 after the company announced it was drilling a deep test well in Saskatchewan and Hycroft Resource and Development climbed 45 cents to $4.20. Hycroft has a gold heap leach property in Nevada.

Greenstone Resources shot up 35 cents to $2.95 and Larch Resources was ahead 30 cents to $2.35. About a week ago Greenstone said it had acquired a 100% working interest in a high grade gold silver property in Columbia, South America. Larch recently concluded an agreement in principle to acquire shares in several Texas oil and gas companies.

New listings for the week included: Golden North Resource Corp. (formerly Golden North and Good Hope); Original New York Seltzer (formerly Franklin Resources); and E.A. Viner Holdings (formerly Godale Investments).