COATS Trading Features (December 14, 1987)

The weak activity on the main Canadian markets is also being reflected on coats. For the month of November, the average daily dollar value plummeted to an all time low of $1 million. Last May, that was up to $14 million. Total volume for the same month was also a record low of 16.9 million shares.

In such a forum, it becomes tough to find any real performers. Lyndex Explorations showed some volume while trading up to 75 cents . The company plans to transfer its assets to a new company in return for shares.

Independent Mining Corp., which was quiet at 5 cents -10 cents , has optioned a 9-claim property to American Barrick Resources. The claims are located west of Barrick’s big Holt- Dermott gold mine north of Kirkland Lake, Ont. Barrick plans to begin production there next year. Newfield Mines was steady at 85 cents – $1.10. The company has optioned five patented claims in Garrison Twp. Ont. to Findore Minerals. Findore was steady at 60 cents .