COATS Trading Features (March 23, 1987)

Several Paul Penna companies were active traders this week on the COATS system. Langis Silver & Cobalt Mining heated up to 75 cents -80 cents on news that drilling is in progress on its Cobalt, Ont., area properties. In Quebec, Probe Mines stands to reap rewards from its net smelter royalty on the Goldex Mines gold property. Probe continued making gains, closing at 75 cents -80 cents . Just two weeks ago, this issue was trading at 55 cents . The Goldex mine could be shipping ore to the nearby Dumagami mill within two years.

Card Lake Resources plans to start drilling by May on its Harker- Holloway area gold porperty north of Kirkland Lake, Ont. The new company, which traded at 65 cents -70 cents , is the result of amalgamating three companies; one of which was the old Card Lake Copper Mines. Work completed on the Harker property included 4,700 ft of drilling. Encouraging results include 4.9 ft grading 0.46 oz gold per ton and 6.5 ft grading 0.21 oz gold. The property is west of and on strike with the new Holt-McDermott gold mine being built by American Barrick Resources.

Ansil Resources, which holds a 20% net proceeds royalty on the Duprat, Twp., Que., property being explored by Falconbridge, was also stronger at $2.