COATS (over-the-counter) Mountain Beaver funds

Planning a $550,000 exploration program on the Figuery property in Quebec, Mountain Beaver Resources has received partial proceeds of $270,000 from a recent share offering. The company must spend $4 million on the property to earn a 50% interest. Mountain Beaver was 25 cents bid for the week ended Dec. 31. Southern Arizona Mining and Smelting says it has acquired the right to market and manufacture “Blue Falcon,” a biodegradable product capable of suppressing and dispersing petroleum and chemical- based fires. The company’s shares remained unchanged at 13 cents on a volume of 293,070.

Five patented claims in Garrison Twp., Ont., have reverted back to their owner, Newfields Minerals, after Findore Minerals failed to meet an option payment deadline in December. Findore retains 21 unpatented claims in Garrison Twp., but says it has no plans to pursue any further exploration at the present time. Findore was 10 cents bid, 18 cents ask for the week.

Trading 290,000, Maude Lake Gold Mines remained steady at 22 cents.

The company owns six groups of contiguous mining claims stretching for eight miles along a branch of the prospective Porcupine- Destor fault system, just north of Matheson, Ont. Maude Lake is using a portion of the proceeds from a $600,000 public offering completed in February, 1990, to explore the claim groups.