COATS Trading Features (February 09, 1987)

The most glamorous gold issue of the decade hit the markets this week. Hemlo Gold Mines, which was issued at $19.25, opened up at $20.63 and closed at $20.75. The issue traded as high as $21 on good volume. On Feb. 12, Hemlo Gold will trade on the major exchanges. New Goliath Minerals and New Golden Sceptre Minerals, eased off a bit, closing at $1.20-$1.25 and $1.15-$1.20 respectively.

Cleyo Resources was active, trading to $2.80-$2.90. Cleyo has several gold properties in Ontario. News of a good drill hole from the Hardrock Extension property near Geraldton, Ont., helped move the stock to 90 cents -$1.10 — up 20 cents on the week. The Hardrock hole cut 12 ft of quartz vein with visible gold. Aubet Resources was also better at 35 cents -40 cents . Falconbridge has decided to walk away from Aubet’s St. Anthony gold property near Sturgeon Lake, Ont. As a result, Aubet gets a 100% interest in the property returned.

Other better issues include Carling Gold, which was better at 18 cents -22 cents . Goldteck Mines was also stronger at $1.65-$1.75.