COATS (over-the-counter) (December 11, 1989)

A new $300,000 financing for Costigan Gold helped the issue gain 15 cents to 35 cents . More than 14,000 shares were traded. Conwest Exploration holds a big position in the reactivated company. The financing will fund exploration on a polymetallic prospect in New Brunswick.

McNickel continued to languish at 35 cents . The stock was well over $4 last spring when news of a big nickel find near Lac St. Jean, Que., was announced. Initial drill results shot the stock out of the skies leaving it at its current level.

Gold Bar Resources say a prefeasibility study will begin shortly on the company’s gold property in the Swayze area of Ontario. The company also hopes to begin underground exploration and development sometime next year.

Chance Mining and Exploration traded 12,000 shares during the week to close at 34 cents . Chance owns a property, under option to Falconbridge, near the latter company’s big Kidd Creek mine north of Timmins, Ont. The Chance claims host a small zinc-copper deposit and display the right geology for more. Another issue, Rave Resources saw 8,500 shares trade at $1.65.

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