Trading on the coats system is proving to be a big success. For the month of July, data shows that volume totalled more than 43 million shares for a value of $138.2 million.
One of the more active issues for the week was Grandad Resources which traded in excess of 100,000 shares to $1.72. The company has come up with a strong drill hole in the Swayze area south of Timmins, Ont. Company president Robert Fasken tells The Northern Miner that the company cut a 28.4-ft section grading 0.23 oz gold per ton. Other holes are out for assay. Black Gregor Explorations was steady at 50 cents . The company acquired all the assets of a private mining company, Ridley Lake Minerals. The portfolio of claims includes 9 separate projects. Black Gregor’s interest ranges from 16.5% to 100% in the properties in Ontario and Quebec.
La Fosse Platinum began trading on the coats this week. The company, operated by well-known minefinders Peter Ferderber and Fenton Scott, controls a hugh tract of platinum-potential ground in the Labrador Trough in Quebec. La Fosse was active at $6.50-$7.25
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