10:54:18 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Atac Resources Ltd
Symbol ATC
Shares Issued 122,822,077
Close 2016-10-12 C$ 0.55
Market Cap C$ 67,552,142
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Lundin refreshes Atac Resources buy

2016-10-13 00:42 ET - In the News

Brien Lundin, in the October, 2016, edition of the Gold Newsletter, refreshes his buy of Atac Resources Ltd., recently 63 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 $684. Atac has finished the first three holes of a 10-hole drill program on its Orion target, part of its Rackla project in the Yukon. The target is on the Nadaleen trend, which Mr. Lundin sees as similar to Nevada's Carlin trend. Now that Atac is starting to release results, he is more convinced than ever. Highlights from the first three holes include 61.29 metres of 2.75 grams per tonne gold, 14.89 metres of 1.01 g/t gold and 5.85 metres of 1.09 g/t gold. Such results "amply demonstrate the big-time potential" at Rackla, which could be shown to host a multimillion-ounce deposit, says Mr. Lundin. He notes that the stock has fallen in recent weeks, and urges investors to treat the dip as a buying opportunity.

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