15:49:23 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Atac Resources Ltd
Symbol ATC
Shares Issued 117,894,577
Close 2016-08-15 C$ 0.84
Market Cap C$ 99,031,445
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Lundin says buy back into Atac Resources

2016-08-15 20:50 ET - In the News

Brien Lundin, in the August, 2016, edition of the Gold Newsletter, says buy back into Atac Resources Ltd., recently 92 cents. Mr. Lundin previously said buy three times from August, 2013, to November, 2014, at prices ranging from 46 cents to $1.23. He then said sell in August, 2015, at 40 cents. Assuming a $1,000 investment for each of the three buys, selling the $3,000 position at 40 cents would yield a loss of $1,535. Mr. Lundin stopped covering Atac during the depths of last year's bear market, but is now resuming coverage as a result of a coming drill program at the Rackla project in the Yukon. The company is getting ready to drill 20 or so holes between the Orion discovery (where a hole last year hit 47.24 metres of 3.79 grams per tonne gold and ended in mineralization) and the Anubis discovery (which is about 300 metres northwest and is the site of a discovery hole that hit 8.51 metres of 19.85 g/t). Atac's geologists are "salivating" at the prospect of drilling these holes, says Mr. Lundin, sounding ravenous himself. Given the odds of "eye-popping" drill results, along with the market's renewed interest in the Yukon following Goldcorp's takeover of Kaminak Gold, Atac is back on Mr. Lundin's list as a strong buy.

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