Slan, WGI mentioned here:
March 19, 2007
Reducing my commitment, Mon., Mar. 19, 2007, 6:45 PM
I am afraid, all things considered, that I must further reduce my commitment to this blog.
Among other things, I’d like to write more about PDAC. After all, I personally interviewed reps from about 70 companies. But, I have to recognize my limits, and the situation regarding my health and my other plans.
Several readers I met at PDAC suggested I start a readers’ “investment” committee, so that I could stand back and let others take the reins. I liked the idea and felt I could help the team stay on track. As you know, however, people show an interest in stocks/companies they have positions in. Some of them I wouldn’t, for personal reasons, touch with a ten-foot pole.
The problem is that minerals exploration is mostly a game of capital raise-up, which means that often the best story-teller wins. And heaven forbid any objective person criticizing some of these promoters. You’d never hear the end of it.
So today I made a decision that I hope works out because it is win-win-win. Any registered, independent financial advisor or geologist who has an interest in joining me to do the research and reporting on junior resource companies, please send me your co-ordinates. Your name will remain anonymous.
If I have to hire an editor, the reports will be available on a charge basis, otherwise they will be free. And if the interest is not there for the production of an independent and objectively written report, then I’ll drop the idea.
Regarding PDAC, I do have a couple remarks to make:
1. Crystallex (AMEX, TSX: KRY) would like me to retract some of my earlier comments, but I am afraid the info they provided to support their position is contentious, so I will simply hold to my position of not again writing about this soap opera. The story has not changed: they need an environmental permit to advance their production plans and if they obtain it there will be predator mining companies bidding for control. End of story.
2. Guyana Goldfields (USOTC: GUYFF, TSX: GUY) is developing a world-class orebody in Guyana. Impressive. Sprott has a C$16 12-month Price Target. Buy the dips.
3. Northern Dynasty Minerals (AMEX: NAK; TSXV: NDM) is on the way to developing a world-class coppoer-gold-moly mine in Alaska, but many of you will be dead before they ever make a profit. They start mining, if all goes well, in 2014. Most heavily promoted company at PDAC – which is saying something.
4. Western Goldfields (TSX: WGI; USOTC:WGDF) will be a solid producer/profit-maker starting in 2008, but their IR program needs help. Besides there are 142.5 million shares fully-diluted, so traders who are looking for a ten to one reward are not going to find it here. New resource calculations are expected soon. Nevertheless, for most traders, it remains my favorite in the PM space. If you are a stockbroker in California contact me, or better still contact the company and get with the program.
5. ValGold Resources (TSXV: VAL) is a new name, but I have known the chairman forever. Everything I saw, I liked. They are exploring in Guyana and Venezuela and recently bought a gold property near Timmins-Kirkland Lake that may come into production. Punters will get a fair shot here.
6. Khan Resources (TSX: KRI) will ultimately produce much uranium in Mongolia, and the shares will trade higher. Buy the dips. The stock is now C$4.05. I first told readers about it Sept 18, at C$1.50.
7. Inter-Citic Minerals (TSX: ICI) is very well positioned to become a significant gold miner in China.
That’s ten percent of the companies I met at PDAC. I’d like to write a lot more, but it’s time for bed.
BCara@BillCara.com |
