COATS Trading Features (February 22, 1988)

Volumes were lacklustre on coats this week, as most issues traded less than 25,000 shares. Black Cliff Mines was firm at 65 cents . The company and partner Essor Ex ploration have completed surface facilites at Black Cliff’s property near Malartic, Que. The company also plans to start drilling its Ogden Twp. property south of Timmins, Ont. The company is funded by flow-through committments totalling $1.25 million.

Union Mining Corporation was also active, trading 23,500 shares at 53 cents . The company has optioned a property in Harker Twp., Ont., to American Barrick Resources. Barrick is building a big gold mine to the east. If Barrick exercises its option, Union will be left with a 3.5% net smelter royalty.

Other issues which showed some activity were Pinetree Exploration at 20 cents and Hillsborough Resources, which traded up to $2.40.