SML DD Update
Stealth Minerals Limited (SML-TSX)
June 21 Close: 0.24
Rolling 52 Week High 0.29
Rolling 52 Week Low 0.05
Market Capitalization CDN $7.7 Mil.
# of Shares Outstanding 32.1 Mil. shares
Major Shareholders: Officers and Directors (35.1% as of November 2001)
April Volume: 26,680 shares at 0.07 average
May Volume:108,665 shares at 0.08 average
June Volume: 709,832 shares at 0.18 average
Web Site: stealthminerals.com
SML has raised over $5 Million since 1997, and has plans to raise at least $3 Million more (2002 budget: $750,000.00) before November 2004. Stealth has an option to earn 100% in approximately 220 sq. km of mineral claims from Electrum Resources Corp., a private company, and one of B.C.'s largest mineral property owners. Electrum beneficially owns 4.2 million common shares of SML representing 13 %.
B.C. Government MEM Assessment (Electrum) Reports:
Number of documents found: 52
em.gov.bc.ca
SML's main objective is to develop the Pine Property, in Northern British Columbia, which is 5 KM away from the Kemess (Northgate- NGX) north deposit. Plans are to further enhance the potential resource of the Pine Property from 200 million tonnes grading between 0.25 and 0.70 grams of gold per tonne (1.6 million to 4.5 million ounces of gold) and 0.12% and 0.30% copper (530 million to 1.3 billion pounds of copper).
Pine Project Synopsis:
stealthminerals.com
History of Previous Work on Pine Property from 1968 to 1996:
* Kennco Exploration (1968)
* Rio Tinto (1978)
* Brinco Mining (1980)
* Electrum Resources (1988)
* Cominco Ltd (1990 Optioned from Electrum)
* Romulus Resources (1992 Optioned from Electrum)
* Stealth (1997)
- 49 percussion and diamond drill holes from 1968 to 1990
- Extensive geochemical and geophysical surveys have identified a number of targets for additional exploration
stealthminerals.com
Management:
Research has shown that the relatively unknown accountants behind SML -- by demonstrating a great deal of patience -- have systematically moved this project forward over the last 5 years. They have done this since the gold bear market in May of 97 when they IPO'ed raising $875,000.00 at 0.25.
The stock reached a high of 0.99 in July of 97 and has drifted down since. They have made every payment since 1997. Plans are to exploit the numerous high grade showings and hopefully in the future prove up a high grade resource.
- CEO Bradley Jones was former senior partner at KPMG Between 1978 and 1990. Between 1990 and 1993 he was a Senior member of the Corporate Finance Department at Coopers and Lybrand. Since 1994 he has been engaged in private practice in the corporate finance field and is a Limited Market Dealer registered with the Ontario Securities Commission.
- Ken O'Neill is a chartered accountant and senior partner in the firm of KPMG in Hamilton, Bermuda. Mr. O'Neill has extensive experience in international finance, corporate restructurings and mergers and acquisitions.
- The geology team is based in Vancouver and has worked the property since 1998.
stealthminerals.com
Important posts from Elizabeth Andrews:
Message 17619561
Message 17638712
Recent bullish comments on gold:
Gold is undervalued in U.S. dollars. Fair value is about US$499, and an ultimate target in excess of US$1,254 can be calculated.
--Ned W. Schmidt June 21
The reason we may call this "The Mother of all short positions” is that annual gold production is estimated to be around $24 billion in contrast to a short position of $280 billion. At some point, this short position will either be forced to be covered or those who have shorted gold will go under, thereby causing a financial crisis that will send metals prices north of the moon.
--- James J. Puplava June 21
It is interesting to note that a couple of prominent newsletter writers have joined the apocalyptic gold bugs in predicting gold prices in excess of $1,000. Jim Dines, the "original whatever has developed an uptrend bug", has taken out newspaper ads predicting $3,000-$5,000 gold. Doug Casey thinks gold at "$1,000 seems reasonable, $3,000 easily possible". They don't say this because they believe it; these are smart guys who realize that none of the mainstream sectors offer any near term competition. They see the mass psychology structure of the gold market and its potential to build a massive, if temporary, bubble. If the gold bubble fizzles, so what; you only look stupid if you missed a different bubble. It is the unlikelihood of competing sectoral bubbles that will be the main engine that pulls investors into the gold sector.
---John Kaiser June 20
Gold will climb this proverbial wall of worry which will see a near term target of $375 an ounce and an intermediate target at $510 per ounce.
---John Ing June 14 |
