COATS Trading Features (July 13, 1987)

Chance Mining gained some ground to close at 95 cents . While no deal is expected, Kidd Creek Mines has shown interest in Chance’s Timmins, Ont., area properties. Kidd Creek is currently completing a $350,000 drill program to keep its option on the ground in good standing.

Portfield Industries has been extremely active. This week it was trading between 30 cents to $1.00 and closed at 80 cents . The company is currently involved in a joint venture with Fontana Mining on gold properties at Deverny Twp. northeast of Amos Que.

Frankfield Explorations, meanwhile, remained steady to close at 24 cents . The Toronto-based company holds a 36% interest in the Tully Twp. gold property at Timmins, Ont. With reserves estimated at 300,000 tons, averaging 0.24 oz gold per ton and ore widths averaging 17-18 ft, mining costs are expected to be low.

Black Cliff Mines which recently optioned its Malartic Twp. property in northwestern Quebec to Exploration Essor, lost ground to close at $1.00. Exploration Essor of Rouyn, Que., has an option to earn a 50% equity interest in the property (which contains the former Vinray gold mine) by spending $2 million on exploration over two years.

Newly-listed Wye Resources which opened at 45 cents , showed a modest gain to close at 70 cents