COATS Trading Features (October 26, 1987)

The market collapse of Oct 19, which is becoming known as the infamous Black Monday, made certain not to ignore the poor cousins of the Toronto Stock Exchange — the coats-listed issues.

Chance Mining & Exploration, which was at 80 cents just a few days ago, closed at 35 cents -45 cents . As one trader commented ruefully, “at this price, if Chance isn’t a buy what is?” Chance holds a claim block near Kidd Creek’s huge base metals mine north of Timmins, Ont. Talk is that a good hole has been pulled from the property by Falconbridge, the owner of Kidd’s operations.

Card Lake Resources failed to stem its slide, dipping to 40 cents -50 cents . The company is assessing results from a completed 15,000-ft drill program on its gold play in the Harker- Holloway area, Ont.

Exxeter Resources, which has recently been reactivated, was a big trader all week, hitting $1.80 before settling back to 90 cents -$1.10. On the easier side, Matt Berry Mines slid to 50 cents -60 cents .