TRADING HALT!!
Kaiser says good golly, PEARL moves from legal to moly
2005-01-05 19:03 ET - In the News
John Kaiser, writing in a Jan. 4 Bottom Fishing Express, says molybdenum underwent a little noticed tenfold spot price increase in the past two years but has started to catch the attention of the Canadian exploration industry. Mr. Kaiser has picked five "Earlybird Moly Juniors" including Patent Enforcement and Royalties Inc. at 18 cents. He recommended the former Ciclo Capital (its name was changed in July, 1999), in December, 1998, at 21 cents, and again in May, 1999, at 60 cents. An investment of $1,000 each time would be worth $2,120 today. The company convinced a town that skiing and mining are compatible and on Nov. 18, 2004, it announced a plan to acquire the Yorke-Hardy molybdenum deposit near Smithers, B.C. PEARL can acquire it outright for $75,000 upfront and $950,000 by late April, 2005. A couple weeks prior to the acquisition PEARL placed four million shares at 10 cents which cleaned up liabilities and enabled the company to make the Yorke-Hardy upfront payment. The financing appears to have been taken down by insiders and close associates. Even at $10 per pound molybdenum, the high-grade core has a $53 rock value and an in situ gross value of over $1-billion. Mr. Kaiser says PEARL could easily trade at 80 cents to $1 when trading resumes. |
