STOCK MARKETS — Market jumping over profit-taking in

The Vancouver Stock Exchange resource index reached a record high of 1,353.02 before backing off to 1,313.68, for a gain of more than 23 points during the week ended June 22. The composite index lost ground, closing off four points at 990.

With gold stabilizing at the US$368 per oz. level, much of the activity reflected profit-taking in diamond issues following the release of bulk-sampling results from the BHP-Dia Met Minerals’ Point Lake property in the Northwest Territories. Results from core drilling of exploration targets are still pending.

Dia Met fell $10 from its high of $67 just prior to the release of the sampling results. And although analysts generally view the results favorably, investors apparently took the opportunity to “sell on news.” Many of the more prominent diamond exploration groups also ran up to new highs during the period, only to follow Dia Met down.

Members of the DHK group, which includes Dentonia Resources, Kettle River Resources and Alberta-listed Horseshoe Gold Mining, all touched new highs before turning south.

Dentonia traded as high as $10.75 before pulling back to $8.63 for a gain of 25 cents.

Kettle River finished up 38 cents at $16.50 after touching a high of $19.75 while Horseshoe Gold edged up 38 cents to close at $8.63, off from a high of $11.

Jacqueline Gold shot up with the release of high-grade gold values from its 70% owned San Lazarus project in New Mexico. The issue traded as high as $2.65 before pulling back to $2.42 for a gain of $1.58 on the week. The results included two 10-ft. intersections in the first hole grading 0.86 oz. gold per ton and 1.92 oz. gold respectively, and a 25-ft. intersection in the second hole grading 5.05 oz. gold.

Toronto-listed BMR Gold, which holds the remaining 30% interest in the property, added 29 cents to close at $1.03.

The acquisition of an option to buy the Con mine near Yellowknife, N.W.T., gave Miramar Mining a big boost with a gain of $1.20 to the $3.50 level. The company can buy the mine, free of debt, for US$25 million. The Con mine produced about 120,000 oz. of gold last year.

Partners Eurus Resource and Crystallex International released drilling results from the Albino concession in the Kilometre 88 region of Venezuela. The drilling led to the discovery of a zone of mineralization and included a 16.4-ft. intersection grading 0.45 oz. gold per ton.

Eurus gained a dime to close at $1.30 while Crystallex closed up 63 cents at $6.50.

Madison Enterprises gained 12 cents to finish at 60 cents after signing an option to buy a 50% interest in an exploration concession in Panama from Adrian Resources. The property lies immediately west of the Petaquilla copper-gold project which is being developed by Adrian and Metall Mining. Confident it will be able to line up the required financing to bring the Keystone gold project in Manitoba into production, Cazador Explorations is proceeding with road work and mill rehabilitation. After recently reaching an equipment financing agreement with Caterpillar, the company needs a further $3.5 million in third-party financing to bring the project on-line. The issue finished the period off a dime

at 90 cents.

News that American Barrick Resources has made an offer for the La Fortuna mine property owned by San Fernando Mining did little to help the issue. San Fernando slipped 20 cents to close at $1.50. The company said it will release details of the offer later.

Randstrom Manufacturing, which plans to merge with San Fernando on the basis of 1.6 shares of Randstrom for one share of

San Fernando, remained unchanged at $1.30.

Chase Resource announced the completion of a $5.6 million financing to fund further work on its Taysan copper-gold project in the Philippines. The issue added 30 cents to close at $4.30.

Murray Pezim’s Prime Equities International continued to gain ground, adding 40 cents to close at $4.20.