Volume leader for the week was Atlantic Goldfields which gained 3 cents to close at 75 cents . The company will end up with nearly $14 million in its treasury thanks to a recent deal with Jascan Resources. What Atlantic will do with all that cash has yet to be determined by its directors, but judging by the recent trading volume, investors seem interested in the possibilities.
Moving up to 35 cents from a low of 2 cents last week was Teco Mines. The company has three properties in northwestern Ontario, including a 3-claim group at Shoal Lake near Kenora.
After a long period of dormancy, Midrim Mining Co. saw some active trading this week in the 8-11 cents range. Midrim President E. F. Carr says his company is preparing to do a 2,000-ft drilling program this summer on the Ringing Rock property near Butte, Mont. Midrim recently signed a letter of intent allowing it to earn up to a 35% direct interest in that property. Carr says a private group is providing funds totalling $60,000 for the exploration work.
Two companies with a common management, Premier Lake Resources and Rainbow Lake Resources, were active traders this week, but when contacted by The Northern Miner, an officer of the companies said he knew of no particular reason for the trading activity. These two juniors have gold prospects in northwestern Ontario.
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