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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: E. Charters who wrote (48124)	9/3/2007 10:09:28 AM
From: Ed Ajootian	Read Replies (1) of 78419

EC, Freegold Ventures (ITF.TO, FGOVF.OB) -- Thanks kindly for sharing your thoughts on this one, I also like it a lot and it is my largest PM holding by far. I especially like the fact that they are trying to generate near-term cash flow with the portable processing operation they have put together up at Golden Summit. I believe the cash flow from this operation, even though it will only be able to run half of the year, should be enough to not only pay the whole year's G&A costs but also fund the deeper drilling over there. Also, from what I understand they are planning to move the plant down south to a more winter-friendly locale after next month, where it will still be able to generate some good cash flow. Not too shabby economics considering the whole plant is ending up costing < $2 M I believe. It was great to see them already starting to work on the Rob property. I was not expecting anything on that until next year at the earliest. The more plays they can open up, the better chances they have of attracting institutional money. I was surprised that the stock did not move more on this PR. Here is a neat map from the Rubicon Minerals website, rubiconminerals.com . I believe Freegold's stake is in the white area about 20 miles east of the Pogo mine, which is shown as being owned by "others" on the map. They have about 5 M warrants, exercisable at $.65 or so, that can be called if the stock continues to close above C$1.10 for about the next 7 trading days. Maybe folks are holding off buying at this point, to see if some of the warrantholders start exercising and dumping in the next few days. If the warrantholders dump I will be in there taking some of those shares off their hands.

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