COATS Trading Features (March 02, 1987)

Cleyo Resources, which is performing exploration on several properties in Ontario, traded at a new high of $2.90. The issue closed at $2.80-$2.90. Chance Mining & Exploration was also active, trading at 43 cents -45 cents on good volume. The company is negotiating a deal with Kidd Creek Mines. If successful, Kidd will option one of several properties controlled by Chance north of Timmins, Ont.

Western International Explorations was also active on news that a U.S. mining company plans to option Western’s gold placer property in Colombia, South America. The deal could lead to early production from the property. The issue hit $1.20 – up markedly from a year low of 50 cents .

Probe Mines, which has a 5% net smelter royalty on Goldex Mines gold property in Quebec, held on to recent gains at $50 cents -53 cents . Both companies are in the Paul Penna fold of companies. Goldex hopes to begin milling ore at the nearby Dumagami Mines mill in 1988.