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Gold/Mining/Energy : Precious and Base Metal Investing
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To: russwinter who started this subject6/19/2003 10:05:44 AM
From: russwinter  Read Replies (3) of 39344
 
An idea and heads up: Canyon Resources (CAU)

No I don't own this stock, although I might in due course. It's one the best undeveloped deposits (over 10m low cost oz) in the world.
canyonresources.com
If they got this ridiculous economically self defeating anti-mining law reversed, and this got into production, I think the stock could go up 10 fold or more. Here's a company that spent 75m developing this project, went through nearly a decade of strenuous environmental permitting, only to have this foolish measure passed. This is also an especially egregious property "taking" case. Montana could lose hundreds of millions of dollars in a major court case on the takings issue. I think CAU has a good chance of winning it, which is maybe why (along with a state wide depression) you're seeing the scramble to get this mine back on track.
biz.yahoo.com

Thank god, Montana (like the rest of America) has comparative advantage to fall back on:that being excessive consumerism, debt creation and TOHOEism (triumph of hope over experience), instead of real productive activities like mineral extraction.

The stock is up this week on a Tom Calandra push, so be patient about entry points; say below 1.50.
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