Vancouver Stock Exchange Market in watching, waiting period

This time of the year is typically a slow period for stock exchanges and Vancouver is no exception. Without much liquidity in the market (yesterday’s volume was only 10.2 million shares), investors are obviously sitting tight until the New Year.

It’s safe to say that 1987 will be remembered as the year of the big crash — one which shook the foundations of the Canadian and international investment communities. And, not surprisingly, it has made investors more cautious, which should have a negative impact on trading activity in 1988.

Among the more active issues today was Grand Forks Mines, which was off 4 cents to 56 cents on 602,000 shares. The company’s Hek property near Greenwood, B.C., is the subject of a joint-venture agreement with Noranda. Bard Silver and Gold traded for the first time today at 48 cents as did Pineridge Resources, which was also active at 65 cents .

Hallmark Resources climbed 14 cents to $1.69 on a moderate volume and International Standard inched ahead 2 cents to 37 cents . Hallmark has a gold-silver property at Bullhead City, Ariz., for which it has been making some lofty production projections. International Standard is proposing a share consolidation on a one-for- five basis “to facilitate future public financings.” Grandview Resources, the subject of a takeover offer by Australia-based Western Mining (N.M., Dec 28/87), was 13 cents better at $9. By presstime, the market index was down 1.6 pts to 1,122.4 pts.

Over our report period, Cal Graphite shot up $4.25 to $14.50. The company has a flake graphite deposit near Huntsville, Ont., which could be in production by October, 1988. A proprietary process will be used to recover the graphite. Skylark Resources came on strong again during the week, rising $1.10 to $3.40. Production is under way at its silver-gold project near Greenwood in southern British Columbia. High Level Resources, which at last report was negotiating the purchase of a private company with mining interests in Chile, jumped 60 cents to $1.50 and Central Crude climbed 50 cents to $2.60. The company recently picked up more claims in Ontario’s Mishibishu Lake area.

Murray Pezim’s Golden Nevada floundered again this week, dropping 9 cents to $2.00 on 704,100 shares. The company has made what appears to be a significant gold discovery in the Yukon with Noranda. Goldbrae Development, which is taking on Rea Gold as a major shareholder, was also a heavy trader over our report period. The stock was ahead 24 cents to $1.34 on 616,400 shares.