STOCK MARKETS — Resource stocks take shine to Evening Session

The Vancouver Stock Exchange composite index finished the report period ended Sept. 17, up 13.66 points at 1,229.2, while the resource index rose 10.35 points to close at 2,357.16.

The VSE became the first Canadian exchange to offer an evening trading session, called the Vancouver International Securities Trading Access, running from 6:30 to 8:30 p.m., Sunday through Thursday. The hours are designed to coincide with early trading hours in Hong Kong and Australia, allowing easier trading access to 40 listed companies that are either based in the Asia-Pacific region or have ties to it.

Trading in Borneo Gold was halted at $11.25, up $9.06, pending clarification of market activity. Reports of visible gold in bedrock at its 90%-owned Bunut property in West Kalimantan, Indonesia, sent the issue soaring. VSE surveillance said Borneo will remain halted pending the disclosure of assays from chip and channel samples on existing pits at the property.

Indonesian explorers Inlet Resources and Insular Explorations appear to be benefiting from Borneo’s discovery. Ian Parks, president of Borneo and director of both Inlet and Insular, originally acquired and evaluated Indonesian properties for all three companies. Inlet closed up 12 cents at 71 cents, while Insular rose 40 cents to $1.31.

Consolidated Silver Tusk Mines slipped 30 cents to close at $8.60.

Speculation is high as a first phase of trenching and drilling is progressing at the 80%-held, former-producing Pt. Karya Bukit Utama gold-silver property on the Indonesian island of Sumatra.

With the acquisition of major diamond projects in China and South Africa, Carson Gold is focused on becoming a significant producer and marketer of diamonds. Carson was up 40 cents at $2.85.

Meanwhile, partners Noront Resources and Golden Trump Resources have resumed diamond drilling on the Okak Bay 2381 (NOT No. 3) property in Labrador, with 4 holes envisaged. The former tacked on 5 cents at 83 cents, while the latter closed up 9 cents at $1.40.

The first hole drilled by Ourominas Minerals on the Main zone at the Jaruana project in Brazil’s Mato Grosso state intersected a quartz stockwork with unoxidized primary sulphides. Ourominas finished at $4, up 46 cents.

Vital Pacific Resources’ 9-hole drill program on the Soup property in northern British Columbia met with mixed results. The company, which holds a 74% interest and an option on a further 16%, closed at 25 cents, down 22 cents. Athlone Resources, which holds the remaining interest, slipped 6 cents to 33 cents.

Honduran explorer Milagro Minerals rose 22 cents to 77 cents on news of a proposed merger with Toronto-listed Geomaque Explorations. Milagro shareholders will receive one Geomaque share for every four shares held.

Booker Gold Explorations was up 60 cents, to $3.90, on reports of visible copper mineralization in hole 96-64 of the Hearne Hill copper-gold project, northeast of Smithers, B.C.

An original 9-hole drill program on the Voisey’s Bay West claim block in Labrador has been extended, with hole 12 currently under way. Partners Alberta-listed Anvil Resources and Fleck Resources report that holes 2-8 failed to hit mineralization of economic significance. Anvil, which can earn a 40% interest from Fleck, remained unchanged at 70 cents, while Fleck closed down 40 cents to 55 cents.

Arlo Resources closed up 6 cents, to 37 cents, on the announcement that MinAmerica had purchased MK Gold’s share holdings in Arlo, increasing MinAmerica’s interest in the company to 49%.

International Taurus Resources gained 31 cents at $1.07. The junior is rebounding from a recent selloff brought about by former partner Cyprus Amax’s withdrawal from the Taurus gold project in northern British Columbia.


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