COATS Trading Features (October 31, 1988)

Mining issues didn’t show much life in the COATS system this week. Tanager Resources was unchanged at 20 . The company recently announced it is negotiating joint venture financing to conduct more exploration on its Pickle Lake area properties, where anomalous gold values have been reported from sulphide-bearing shear zones.

Atlantic Goldfields traded down slightly at 75 -83 on increased volume. The company announced a share buy-back plan last week. Newfoundland Exploration (Newexco), which is involved in the Rambler joint venture properties in the Baie Verte area, was down 20 on the week and reached a low of 95 . Newexco and joint venture partners Teck Corp. and Petromet Resources will spend $3.84 million on the Rambler copper-gold properties in the next 12 months.

Active this week was Cross Canada Resources. It saw an increased volume with 64,000 shares trading hands at 20 -35 . International Viking Resources traded up to the 50 -60 range on a volume of over 30,000 shares. Int’l. Viking had been trading at the 35 -45 level on thin volumes during the past few weeks.

Sheldon-Larder Mines was up slightly at 38 -43 . The company has a net profit interest in Armistice Resources’ McGarry Twp gold property near Larder Lake. The 34-claim Sheldon-Larder property adjoins the western boundary of the old Kerr Addison mine at Virginiatown and is the site of an on-going underground exploration program by Armistice.