COATS Trading Features (October 24, 1988)

Atlantic Goldfields announced a share buy-back plan this week. It intends to buy back certain of its issued shares through open market purchases starting Oct 24. The maximum number of common shares to be acquired will not exceed 5% of currently issued stock, the company says. Atlantic Goldfields’ shares traded easier at 75 to 80 .

Ansil Resources was slightly better this week at $1.20 to $1.30. The company has royalty interests in a Quebec copper-zinc property (optioned to Minnova) which is expected to see production in early 1989. Other interests include a silver property optioned to Agnico- Eagle Mines near Cobalt, Ont.

Also better at $1.90 to $2.00 was Goldstake Resources. The company announced it has signed a joint venture agreement with Homestake Mining to explore a gold-silver property in South Dakota.

Two issues slightly off for the week were Chance Mining and Mount Wright. One company that continues to see increased trading activity is Exxeter Resources. It moved down slightly to the 40 -45 range.

Exxeter announced last week, it has acquired more ground adjacent to its Val d’Or area gold bet.

Recent Ontario Securities Commission statistics on COATS trading volumes show that a steady decline in monthly averages began in May and reached a low point in August this year. Trading volume rebounded in September due to Air Canada’s public debut.