18:20:27 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Atac Resources Ltd
Symbol ATC
Shares Issued 122,822,077
Close 2016-09-28 C$ 0.59
Market Cap C$ 72,465,025
Recent Sedar Documents

Lundin refreshes Atac Resources buy

2016-09-28 20:36 ET - In the News

Brien Lundin, in the September, 2016, edition of the Gold Newsletter, refreshes his buy of Atac Resources Ltd., recently 59 cents. He 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 yielded a loss of $1,535. Mr. Lundin said buy back into the stock in August, 2016, at 92 cents. A $1,000 investment then is now worth $640. Mr. Lundin likes Atac for the "truly district-scale potential" of its Rackla gold project in the Yukon. The project covers 1,700 square kilometres and contains the Tiger deposit, which was estimated in May to have a net present value of $106.6-million (pretax). Tiger is on the Rau trend, one of two distinct trends at the property. The other is Nadaleen. Mr. Lundin sees Nadaleen as comparable with Nevada's Carlin trend, and was thus surprised when Atac's recent 20- to 30-hole drill program at Nadaleen ended up being "a wash" (as he puts it) and "inconclusive" (as Atac puts it). Atac now plans to try again at Nadaleen using a different drilling method. Mr. Lundin remains optimistic, and the stock remains a buy.

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