One of the biggest winners on the Coats system this week was Chance Mining & Exploration, which closed at 90 cents after hitting $1. The company says Falconbridge has optioned another of its properties near Kidd Creek’s huge massive sulphide deposit north of Timmins, Ont. Also, Falconbridge plans to drill on the original Chance claims.
Other better issues included Langis Silver & Cobalt Mining which continued to make strong gains. The issue added another 25 cents to $1.40-$1.50. Langis is considering sinking a 1,200-ft vertical shaft on its Cobalt, Ont., area silver property. With strengthening silver prices, the Langis property has become more economically attractive.
Losing issues included Augdome Corp. down to 18 cents -23 cents and Matt Berry Mines, which ended the day at 45 cents -50 cents . New Athona Mines was also active, trading up to 30 cents -35 cents . The company holds several gold leases near Lake Athabasca in northern Saskatchewan which were partially developed in the 1930s.
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