I like Farallon a lot. They have several adjacent polymetallic deposits in Mexico with very good gold and silver content and that are worth $billions. The promoters behind it are Hunter-Dickenson group (behind Great Basin Gold, etc.) who are well known in junior mining:
Farallon Resources Ltd FAN
Shares issued 17,434,196 Sep 18 close $1.54
Fri 18 Sept 98 In the News
Robert Bishop, writing in the Sept. 9, 1998 edition of his Gold Mining
Stock Report, says Farallon Resources is a buy at $1.28. Mr. Bishop
recommended Farallon in January 1996 at $4.75, again in May 1996 at $11.70,
and once more in October 1996 at $16.45. In his current report, Mr. Bishop
says there is real value in the stock at current prices. "I view it as one
of the major price anomalies of the current market, and that's why I've
recommended it for purchase of late," he writes. In July, the B.C. Supreme
Court ruled in Farallon's favour on all counts in a case brought against it
by Summex Mines in February 1996. Farallon said the decision confirms FAN's
100 per cent title to the Campo Morado mineral concessions in Mexico.
Mexican authorities have concurred, and the issue of costs is yet to be
determined by the court. Mr. Bishop suggests costs go well beyond lawyer
fees, to include its price pullback from $20 in May 1996 to its current
$1-and-change status. Further, he says, Summex's litigation nixed a deal at
much-higher-than-current prices. |
