COATS trading features (December 05, 1988)

It was another quiet week for mining issues on COATS. Exxeter Resources says it is negotiating a private placement through Packard Group Inc. of New York to fund exploration on its Quebec and Nevada gold properties. Exxeter moved down 10 on the week to the 30 – 40 level.

Tanager Resources saw 62,000 shares trade hands in the 13 to 25 range this week. Tanager, a spin off of Associated Porcupine Mines, holds all the latter company’s Timmins claims, excluding the Paymaster property. Two of the Timmins properties have been sold for potential real estate developments.

ConRex Corp. has seen active trading in the last couple of weeks at the 18 to 35 level. The company is an investment management firm controlled by merchant bankers Gornitzki, Thompson & Little Co. They provide merchant banking services to established junior and industrial companies too small for conventional financings. ConRex announced it has signed letters of intent to purchase two Toronto- based companies that manufacture engineering products.

Platinum Lake Technology announced production of the first platinum metal from its pilot plant in Mississauga, Ont. The company hopes to recover commercial quantities of platinum, palladium, and rhodium from spent auto- catalysts. The issue was quiet with the most recent trade at $2.10.