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PRICE GAINS AND HEAVY TRADING CONTINUE

 VANCOUVER, British Columbia, Feb. 4 /PRNewswire/ -- Market activity on the Vancouver Stock Exchange was solid during January as prices continued to climb on heavy trading. Prices were driven higher by speculation surrounding mineral exploration in the Northwest Territories and South America.
 Volume for the month eased down marginally from the previous month to 375 million shares, while the average daily volume rose to 18.7 million shares. January's value, at $395 million, was up by 25 per cent over December. It was the fourth consecutive month that value increased over the previous month.
 The VSE Composite Index gained on 17 of 20 trading sessions during the month to close at 706.28, a 10 per cent increase over December. The close on January 29 was the highest since Aug. 21, 1990. All sub-indices contributed to the Composite's rise, led by a 12 percent gain in the Venture Index. The Commercial/Industrial and Resource Indices followed with eight and six per cent gains, respectively. At month-end, market capitalization of the 1,293 stocks in the Composite Index was $4.1 billion.
 Of the 1,871 issues listed on the Exchange during the month of January, 187 posted new highs and 84 posted new lows. The three most active stocks during January were involved either in diamond exploration in the Northwest Territories or in gold exploration in Venezuela. The top five most active stocks by volume were: Commonwealth Gold (Resource), Eurus Resources (Resource), Layfield Resources (Venture), Katlor Explorations (Venture), and Consolidated Jalna Resources (Venture).
 The Senior Board's share of trading slipped slightly to 17 percent of total volume and 41 percent of total value, despite a moderate gain in the trading activity of Commercial/Industrial companies.
 Financings for January were down 18 per cent from the previous month as the value of public offerings declined sharply, while the value of private placements was steady.
 The VSE's portion of volume of shares traded on all Canadian exchanges eased to 24 per cent, while its share of total value increased fractionally to four per cent share. On Jan. 18, the VSE added two series of Long-term Equity AnticiPation Securities (LEAPS) to its stable of equity options cleared through Trans Canada Options. The LEAPS series have exercise dates in 1994 and 1995.
 Listings
 January was a quiet month for listing changes, with no new listings and only one reverse takeover, compared to two new listings last month and two reverse take-overs. (January of 1992 saw five new listings and three reverse take-overs). A reverse take-over occurs when a non-listed company takes over one already listed on the Exchange.
 Image Data International Corporation (formerly Galico Resources Inc.) completed its reverse take-over and resumed trading Jan. 25. The company is involved in software processing systems that allows financial institutions to process bank check reconciliation and various payments through automated teller machines.
 Section upgrades increased over last month, with four companies upgraded to the Commercial/Industrial section of the Senior Board. No companies were upgraded to either the Resource or Commercial/Industrial Sections in December, and one in January of 1992.
 Three companies delisted from the Exchange in January, one less then in January of 1992 and compared to seven companies that delisted in December.
 -0- 3/4/93
 /CONTACT: David A. Laundy of the Vancouver Stock Exchange, 604-689-3334/


CO: Vancouver Stock Exchange ST: British Columbia IN: SU:

EH -- LA031 -- 3046 02/04/93 13:51 EST
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Publication:PR Newswire
Date:Feb 4, 1993
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