Vancouver Stock Exchange Stallion is among active traders

The once powerful U.S. dollar, which has been free-falling for months, continues to have a negative impact on stock markets including Vancouver. By presstime the vse index was off a dozen points to 1,170 despite the fact the weaker dollar is good for gold. Interestingly enough, the outlook for metals in general is the best it’s been in years and Canada’s resource-driven markets should benefit enormously if that trend continues.

Among the more active traders today was Stallion Resources which was off 2 cents to 25 cents on 209,000 shares. As of Jan 11 the company was delinquent in submitting its annual financial statements. In about half the volume, Bema International slumped 10 cents to $2.70. The company has a 35% interest in the Harrison Lake gold project and is seeking control of Abo Resources which has a 40% stake.

Cornucopia Resources, which has accelerated the drill program at its Ivanhoe property in Nevada was 25 cents lower at $5.50 while Contact Ventures slipped 6 cents to 19 cents . On the positive side, Scheer Energy climbed 7 cents to 16 cents and Shallow Resources was ahead 5 cents to 44 cents . Scheer is planning a share consolidation on a three-for-one basis and a name change to Panterra Energy. A few weeks ago Shallow said it was “searching for properties of merit,” and it had the “funds on hand to commence a project if one is considered worthwhile.”

Over our report period Murray Pezim’s Golden Nevada Resources was the heaviest trader with a turnover of almost 1.6 million shares. But the stock fell 64 cents to $3.20. The company has made an important- looking gold discovery near Faro, Yukon. It’s confined to a relatively short strike length at this point but has good depth continuity. If you like to bet on drill holes, Grew Creek is probably worth a hard look. Norman Resources, which is also in the area, was up 3 cents to 43 cents and Wildfire was 3 cents better at 27 cents .

Colossus Resources also came on strong, rising 98 cents to $5.13. At last report this Pezim Group company was finalizing an agreement to “purchase a significant equity position in a Canadian gold mining company.” Skyline Explorations managed a 74 cents gain to $12.38 and Central Crude, which is planning a merger with Noront Resources, was 20 cents stronger at $2.75. Skyline is now forcasting production from its Reg property in the second quarter.