COATS Trading Features (July 20, 1987)

Langis Silver Cobalt was one of the week’s best performers. It was up 30 cents to close at $1.40. Although no formal decision has been made, a 1,200-ft shaft is planned to develop one of the company’s silver properties in the Cobalt area of Ont.

Located 10 miles east of the old silver mining town, the discovery was made by Agnico-Eagle Mines. Two 3,000-ft holes, drilled from the bottom of the old Langis mine assayed 61 oz over 11 ft and 39 oz over 31 ft.

Edda Resources remained quiet to close at 70 cents . The company has become a platinum explorer through a substantial land position in northern Manitoba near the Manew Lake nickel deposit controlled by Hudson Bay Mining.

Silver Bar Mines plans to diamond drill its Strathcona-Thompson silver prospect at Cobalt, Ont. The property is located on the McKenzie fault northwest of Jascan Resources and Silverside’s new Hellens-Eplett mine in Bucke Twp. The issue was up from $2.25 to close at $2.60

Edomar Resources remained steady at 32 cents . Equipped with a new board of directors, the company is planning two exploration programs. They include a $900,000 program on its 2-claim Quejo copper/gold property near Noranda, Que. According to the company, financing is being arranged for these programs and to supplement working capital.