COATS Trading Features (June 08, 1987)

Card Lake Resources continued its upward climb to a high of $2.50. The company is busy with an exploration project on ground in the Harker-Holloway area north of Kirkland Lake, Ont. Winteroad Resources, which is working a promising gold play in Garrison Twp., very near the Card Lake project, was steady at $1.25. The company has concluded a flow-through share private placement which will raise $150,000 for exploration. During Winteroad’s 1986 season, one of the best drill results included a 20.5-ft section grading 0.25 oz gold per ton cut.

Goldteck Mines, which is also arranging financing, was quiet at $1.50. Goldteck plans to take another shot at the old Stairs property near Matachewan, Ont. Edomar Resources, which has been inactive for some time, showed improved volume at 35 cents . The company is seeking a $1 million financing, the bulk of which would fund an exploration program on its Larder Lake, Ont., property. The large 3.5 mile long property is located west of the big Virginatown mine operated by Kerr Addison Mines (recently sold to Golden Shield Resources).