COATS Trading Features (December 21, 1987)

Several new issues on the coats lists appear to be bucking the current downtrend. Strike Minerals, which was underwritten at 30 cents last month, was trading on good volume at 60 cents – 70 cents today. The company holds a property near Matachewan, Ont., which will be explored for gold. Old workings include a shaft to 308 ft.

A little further away from home, in Guyana to be exact, South American Goldfields is busy with a large package of concessions covering some good gold showings and deposits with open pit and underground potential. The portfolio obviously has some appeal, because Homestake, the big U.S. gold miner has optioned three of the properties. South American was stronger at 80 cents . Much of the stock remains in the hands of the initial investors.

Findore, which is active with several exploration properties in the booming Harker-Holloway area near Matheson, Ont., was stronger at 50 cents -55 cents . Volume for the week was over 30,000 shares.