Trading Steady during
May
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Trading remained steady on the VSE during May as volume,
value and transactions rose above April levels.
The volume of shares traded climbed to 550 million shares, up 14 per cent from last month
and down 54 per cent from May 1996. Trading value gained eight per cent over April to
$705.7 million but was down 61 per cent from May 1996. The percentage declines stem from
comparing the 1996 bull market to this year's trading figures.
The Relative Market Indicator dipped marginally from April levels to close the month out
at 995.15, the first time since January 1996 that the RMI slid below the 1000 mark.
The VSE Mining Indicator closed the month at 953.53, down three per cent from the previous
month. The VSE implemented the Mining Indicator on April 24, 1997 and opened that day with
an initial value of 1000.00. The Mining Indicator is a relative movement indicator which
measures the market value of Composite-eligible mining companies on the VSE.
The VSE welcomed four new companies to the market in May. King Communications
International Limited ("KCI") was posted and called for trading on May 5,
Spectrum Resources Limited ("SPE") on May 16, and Neary Resources Corp.
("NRY") and Panamex Resources Inc. ("PAX") on May 30, 1997.
There was one reverse take-over during the month. ATC Technologies Corp., resumed trading
under the symbol "ATC" on May 30.
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