COATS Trading Features (February 02, 1987)

The two stars of the COATS system this week were Goliath Minerals and Golden Sceptre Minerals, which both opened trading at $1. At the market close they hovered around $1.55 each. Stripped of their valuable stake in the Golden Giant mine at Hemlo (which passed to Hemlo Gold, Noranda’s public vehicle), the two juniors are loaded with cash and looking for projects.

For Carolin Mines followers, the issue continues to trade in New York, over-the-counter. Following the release of spectacular gold and platinum values from the former mine’s tailings — that’s right tailings — many in the mining business are smelling a scam. Average grades were 0.13 oz gold per ton, yet tailings values were reported as 1 oz gold per ton. As one can deduce, the assays were not completed by a Canadian assay laboratory.

Goldteck Mines lost some ground to $1.65-$1.70. The company has a gold prospect near Matachewan, Ont. Matt Berry Mines firmed up to 36 cents -40 cents . Matt Berry holds an interest in some Casa Berardi claims north of Joutel, Que. Grandad Resources, which is busy with some property in the Harker-Holloway area, north of Kirkland Lake, Ont., was better at $1-$1.10.