COATS Trading Features (November 07, 1988)

Several issues showed some life on the COATS system this week. Exxeter Resources saw increased volume with over half a million shares traded in the 45 -78 range. The company announced it has acquired an 80%-interest in the Gold Eagle property located in Pershing Cty., Nev. A program of surface geological mapping, geochemical sampling and geophysical surveying is planned. Previous sampling on the property yielded anomalous gold, arsenic and antimony values.

TSE-listed Jascan Resources and COATS-listed Atlantic Goldfields announced this week they have agreed in principle to a planned amalgamation which, subject to regulatory and shareholder approval, would result in a larger, more diversified company. After receiving the proceeds from a sale of their combined 44%-interest in the Noxon silver-copper property located in Montana, the amalgamated company expects to have working capital of nearly $20 million. Atlantic Goldfields was down slightly in active trading.

Newfoundland Exploration continued to trade actively this week at the 80 – $1.25 level on increased volume. Newexco has interests in the Rambler copper- gold properties at Baie Verte. Craibbe-Fletcher also showed some life in the 33 -40 range. This company is 40%-owned by Placer Dome Inc., and holds ground adjacent to the Campbell mine in Red Lake, Ont.