COATS Trading Features (September 28, 1987)

Most issues on the coats system were easier this week despite a period of stable gold prices. Goldteck Mines bucked the downtrend trading to a new high of $2.80-$3. The issue will be listed on the tse this week. The strength follows a deal which saw control of the company pass to Teck Corp.

Newfield Mines, which holds some claims in Garrison Twp., Ont., perked up to 60 cents -70 cents — up 25 cents for the week. Prior to this price move, the company has been generally inactive.

Last week we incorrectly reported that a lawsuit had been filed against Madeleine Mines on the tse. Madeleine is developing a low grade platinum group metals deposit north of Thunder Bay, Ont., in which Boston Bay Mines holds a major position. Boston Bay was quiet at $8.

Goldstake Explorations was easier at $1.30-$1.40. The company is busy with exploration in South Dakota and in the general Hemlo, Ont., area. Other softer issues included Langis Silver & Cobalt Mining down to $1 and Pacific Viking which closed at 80 cents -90 cents .