Alberta Stock Exchange Few signs of optimism

If North American investors are convinced that stock prices are on their way up, there were few signs of optimistism on the lacklustre Alberta exchange. Volumes were generally low and only a handful of listings showed any signs of life.

They included the Holmer Gold and Smokey Resources issues which added 35 cents and 40 cents respectively to their share prices.

Holmer is currently involved in a couple of accelerated exploration projects at the Chibougamau mine joint venture in Quebec and the Bristol Twp. property near Timmins, Ont.

Intersections taken from the Bristol Twp. property where Chevron Canada Resources is earning a 50% interest, assayed 0.278 oz gold per ton over 25.3 ft. Trading on 8,000 shares, Holmer closed at 95 cents .

After announcing its first public offering — 1 million shares at 5 cents each — last June, Smokey Resources promised to identify oil and gas or minerals investment opportunities.

But it isn’t known yet whether Smokey was successful in securing some of the opportunities that it was seeking. Trading on 36,900 shares, it closed at $1.95.

News that Seadrift International Exploration is raising $1.45 million in flow-through share financing for exploration at the company’s Aldermac massive sulphide deposit, sparked to a 20 cents gain.

Trading on 58,000 shares, Seadrift closed at $1.80. Under a proposed agreement, NIM Resource — 1988 and Co. will buy 659,090 Seadrift shares at $2.20 per share.

Westmin Resources and partners Tanqueray Resources and Estaurum Mines may be optimistic about the prospects for their Little Stull gold property in northeastern Manitoba, but investors have yet to take notice.

The Tanqueray and Estaurum issues failed to trade this week despite a recent announcement that a Phase 1 drilling program has confirmed the continuity and significance of the West Zone.

Relatively quiet, was the Gold City Resources issue. Trading on 48,600 shares it was up 3 cents to close at 58 cents . The Calgary company is currently producing 1,000 fine oz gold per month from its McKinnon Creek and Quartz operations in the Yukon.

While it was the session’s highest trader, with 380,600 shares changing hands, the Varna Gold issue dropped 2 cents from its share price to close at 82 cents . Varna has an option to acquire a 50% interest in a 17,000 acre gold property in Newfoundland’s Jackson’s Arm region.