Vancouver Stock Exchange Star performers of the year

The past year was a cruel one for the Vancouver Stock Exchange as the Composite Index plunged 26% to 527.37 from its year-earlier level of 713.71. The high and low for the period were 802.20 and 505.87 respectively. The Resource Index fared just as poorly, falling 270 points from its opening level of 871.32 on June 1, to a low of 524.20. The index recovered somewhat toward year-end to finish at the 600 level on Dec. 31.

Adrian Resources took top trading spot for the year with more than 67.8 million shares traded. The issue certainly gave investors a ride for their money with a roller coaster of ups and downs fuelled by news and rumors from the company’s SKI project to the north of the Eskay Creek property in northern British Columbia.

Adrian’s share price ranged from a high of $9.75 to a low of 81 cents with numerous twists and turns before the issue finally settled at $2.08 at year-end for a net gain of 85 cents per share.

Second trading spot was taken by Barkhor Resources which traded over 50 million shares as investors played “Lotto 6/49” over a highly promoted drilling program in southeastern British Columbia. The issue reached a high of $2.46 on reports and rumors of massive sulphide intersections similar to those seen at the famous Sullivan mine owned by Cominco. Barkhor has since slipped back into obscurity at the 10 cents level after actual assays did not pan out.

Kokanee Resources, Barkhor’s partner on the Star property, also had an active year, trading over 12 million shares and reaching a high of $5.75 before retreating to $1.75 for a 39 cents gain over 1990.

A drilling program on the Inel project in the Iskut River area of northwestern British Columbia helped spur Avondale Resources to a high of $3 before poor results pushed the issue back to 27 cents for a loss of 19 cents over the year. Avondale traded over 33 million shares during the year.

One of the big success stories of 1990 has been the performance of Crown Resources. The company’s 30% owned Kettle River gold mine in northeastern Washington was opened without a hitch early in the year while drilling results from the company’s Crown Jewel property, also in Washington state, have been returning spectacular results. Crown finished the year at its high of $13, up $4 3/4 from Dec. 31, 1989.

A high-grade drill intersection on the SIB claims located to the south of the Eskay Creek property in northern British Columbia at the end of the 1990 drilling season helped spur partners American Fibre Resources and Silver Butte Resources to new highs. American Fibre touched a high of $1.73 before finishing the year at $1.45 for a gain of 95 cents. Silver Butte followed suit finishing near its high at $1.48 for a gain of $1.02 over 1990.

Chase Resources probably takes top spot for the best short squeeze of the year. The issue reached a high of $8 before pulling back to $3.50 at year-end on over 5.5 million shares. The close represents an impressive gain of $3.05 from its low a year ago. The company recently promoted a long dormant porphyry copper-gold project in the Philippines.