Vancouver Stock Exchange Gold issues boost market

Athabaska Gold Resources was among the busier issues today, gaining 9 to $1.67 after announcing true width calculations for recent drill holes from its Northwest Territories gold property. Results include 25 ft of 0.593 oz gold and 13.6 ft of 0.835 oz gold.

Several Prime Capital companies were also active, among them Consolidated Goldwest Resources which gained 13 to $1.40 and International Phoenix Energy, up 7 to 32 . Prime’s Golden Nevada Resources slipped 1 to 76 . All three companies have projects in northwestern British Columbia.

Maghemite Inc., a Hughes-Lang company with a ferrite powder plant in Quebec in addition to several mineral properties, was up 5 to 35 , while Don McLeod’s NCA Minerals gained a nickel to 65 .

Calpine Resources lost ground over our report period, slipping 31 to $2.45. The Prime Capital company has made a bid to acquire 51% of the issued shares of Consolidated Stikine Silver, its joint venture partner on the Eskay Creek project in northwestern British Columbia Opinion appears to be divided whether Stikine shareholders will accept the share swap (five Calpine plus one warrant for one share of Stikine), although some think the temptation for hefty profits may swing the deal. Consolidated Stikine gained $1.42 to reach a new high of $15.00.

Adrian Resources was also active, although the issue slipped 4 to 63 . The Prime Capital company is involved in a joint venture with Silverquest Resources and NDU Resources on the Hyland gold property in the Yukon which is said to have similarities to sediment- hosted bulk tonnage deposits in Nevada.

Prime’s International Impala Resources also lost ground, dropping 9 to 35 . The company says drilling is about to resume on the Pacquet Project in Newfoundland, a joint venture with Noranda.

Miramar Energy gained 35 to $1.05 after making a deal with Newmont to explore its Nevada gold properties, while Ramcor Resources gained a dime to 29 . The company is currently in the process of closing a deal on a nickel property in Quebec, which just goes to show that gold is no longer the only game in town. War Eagle Mining, still searching for gold on its Idaho property, gained 22 to $1.68.

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