COATS Trading Features (December 07, 1987)

A generally quiet week is the best way to sum up the performance on coats. Several issues however, did show some life. Clavos Porcupine Mines, which holds a royalty interest on a promising gold play operated by Canamax Rresources, edged up to 23 cents -28 cents . Ansil Resources, which holds a 20% net proceeds royalty on a polymetallic property optioned to Minnova in Quebec, displayed stronger volume to close up at $1.90-$2.10.

A big volume trader was Glencairn Explorations, which saw more than 200,000 shares traded this week. The issue was firm at 50 cents -53 cents — up 10 cents for the week. The company is investigating a possible diamond project in Brazil.

Another winner was Garrison Creek Consolidated Mines, which moved to $1.20-$1.40. The Coniagas Mines plans to spend money exploring Garrison’s gold property east of Matheson, Ont. By meeting its commitments, Coniagas could earn a 90% equity interst in Garrison, currently held 62.7% by Falconbridge Ltd. Garrison has a 40% interest in the property.

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