COATS Trading Features (March 21, 1988)

The volume leader amongst resource issues on coats was Tarzan Gold. The issue traded through more than 180,000 shares this week to add 25 cents to $1.50. Tarzan holds varying interests in a large portfolio of grass-roots exploration properties in Ontario and Quebec. Most are in the Casa Berardi area.

Card Lake Resources dipped to a new low of 20 cents on little volume. The tumble comes despite a deal signed with American Barrick Resources which gives Barrick the right to earn a 60% interest in Card’s gold property in Black Twp., Ont. Barrick plans to test several mineralized zones with eight drill holes.

Atlantic Goldfields was also a healthy trader, enjoying volume of 85,000 shares in the $1.50-$1.60 range. Atlantic and partner Jascan Resources have a deal to sell their interest in the Noxon silver-copper deposit in Montana for $40 million (US). Of that, $25 million is in cash. Not bad for a total investment of $7 million.