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VANCOUVER STOCK EXCHANGE TRADING SLOWS AS PRICES DRIFT LOWER

 VANCOUVER STOCK EXCHANGE TRADING SLOWS AS PRICES DRIFT LOWER
 VANCOUVER, British Columbia, Sept. 4 /PRNewswire/ -- Trading activity slowed on the Vancouver Stock Exchange during August as both volume and value for the month declined from July.
 Volume of shares traded dropped by 13 percent from last month to 246 million shares while value fell by 16 percent to $213 million.
 The average price per share dropped to $0.86 per share, down 4 percent from July.
 The exchange's Senior Board increased its share of total volume to 16 percent, up slightly over the previous month. Meanwhile, its share of total value dropped to 41 percent as the number and value of large transactions (transactions greater than $500,000) of higher- priced interlisted stocks dropped from the previous month. The value of large transactions dropped to $31 million, 13 percent of total Senior Board value.
 Financings for the first eight months of 1992 were marginally ahead of last year's total for the same period as a sharp increase in initial public offerings offset a moderate decline in public offerings by currently listed companies.
 The VSE Composite Index slid lower during the month, as a fractional gain in the Venture Index was offset by a 5 percent decline in the Commercial/Industrial Index. The Resource Index remained steady during the month. At the end of August the market capitalization of the 1,411 stocks included in the Composite Index was $4 billion.
 Of the 1,924 issues listed on the exchange during the month of August, 93 posted new highs and 159 posted new lows. The most active stocks by volume included: Commonwealth Gold (Resource), Arrowhead Resources (Venture), Cabo Ventures (Venture), Stormin Resources (Venture) and Kalahari Resources (Venture).
 The VSE marginally increased its share of trading on all Canadian exchanges over the previous month as trading dipped on all Canadian Exchanges. The VSE accounted for 28 percent of volume of shares traded and 3 percent of total value.
 The VSE began trading of options on the common shares of Homestake Mining Co. on Aug. 24, 1992. The Homestake options were listed as a result of the delisting of the International Corona options after International Corona was acquired by Homestake Mining in July 1992.
 Listings
 One new exploration and development company listed on the VSE in August, compared to two companies listed last month and four in August of 1991. Vancouver-based Arlo Resources Ltd. was posted for trading August 12 and has its mining interests in Quebec.
 Three Reverse take-overs were completed during the month, compared to five last month and one in August of 1991. An "RTO" occurs when an established, non-listed company takes over one already listed on the exchange.
 Consolidated Pemberton Technologies completed their reverse take- over on Aug. 19. The company, headquartered in Vancouver, has acquired the exclusive Canadian manufacturing and marketing rights and nonexclusive world-wide marketing rights to patents in a device called the Glazier Continuously Variable Transmission System, which allows an engine coupled with the system to be run at constant speeds while varying shaft output speed to meet different load and speed demands.
 Fair Resources Group resumed trading on Aug. 7. The company has shifted the focus of its business strategy to assisting new product ideas through the patenting process and seeing them through manufacturing and marketing. The assets of the company are located in British Columbia and Texas.
 Similkameen Hydro-Power began trading on Aug. 17 at the opening. Based in Penticton, British Columbia, the company is involved in assessing the feasibility of developing and managing a 22 megawatt hydro-electric dam on the Similkameen River near Princeton, British Columbia.
 Four companies were upgraded from the Venture section to the Senior Board this month, compared to two last month and three in August of 1991. Three companies upgraded to the Resource section, and one company was upgraded to the Commercial/Industrial section.
 -0- 9/4/92
 /CONTACT: David A. Laundy of The Vancouver Stock Exchange, 604-689-3334/ CO: Vancouver Stock Exchange ST: British Columbia IN: SU: ECO


KJ -- LA023 -- 7141 09/04/92 18:17 EDT
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Date:Sep 4, 1992
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