Placer Dome controls Craibbe-Fletcher Gold (June 27, 1988)

While no further work is contemplated at the present time on the Red Lake area gold property of Craibbe-Fletcher Gold Mines (COATS), at such time as access can be provided from the underground workings of Placer Dome’s adjoining Campbell mine, underground exploration of a zone that has been traced on surface for 5,200 ft will be considered, President C. Henry Brehaut states in the annual report. This company is controlled by Placer Dome Inc. (TSE) which owns 2,365,834 shares representing a 51.2% interest.

Craibbe’s financial statement shows holdings of 26,800 Class A shares and 36,800 Class B shares of Dickenson Mines and 1,200 shares of Kam-Kotia Mines at a carried cost of $16l,540 but with a year-end quoted value of $663,060.