Which is a better buy; Eastfield or Wildrose?
You're right, it is a tough question (I'll try to do it without getting into trouble). Take a look at the latest postings on the Wildrose thread. It provides a good picture of the current status.
I'm not sure it's appropriate to compare the two because they are really quite different. Wildrose is an company with four active projects (not including the Labrador claims) and Eastfield has taken on a shell-like status due to the price of gold. It's probably more appropriate to compare Eastfield to other shells on the market.
If you're a gold bug then Eastfield is attractive. None of the projects in Wildrose are as developed as the Tonopah gold deposit in Nevada (about 200,000 drill indicated ounces of gold).
I think Wildrose offers the greater potential for immediate gain with two drilling programs scheduled to start before the end of the year. Eastfield will need an increase in the price of gold or a new project to generate any noteworthy news.
Something else to consider is corporate identity. As a management group controlling both entities, we are in somewhat of a conflict when reviewing new projects, ie; which company do we put it in. The re-organization of Eastfield resulted in all of the Canadian properties being transferred to Wildrose. Eastfield retained the Nevada properties. As a result, new Canadian projects are likely to end up in Wildrose and projects outside of Canada are likely to end up in Eastfield.
If you like a company with an international focus, Eastfield is a better choice. Nevada, Mexico, Australia and Peru are all areas we are considering right now (more on Peru in the days to come). Don't forget however, thanks to Revenue Canada, Wildrose has the opportunity to finance their exploration by issuing flow through shares. This is a tremendous advantage when raising funds.
When I started writing my response I fully intended to give you an answer, Wildrose or Eastfield. However, I have changed my mind. As a director of both companies it wouldn't be fair (to the shareholders of company I didn't select) to publicly favour one company over the other (do I sound like a politician).
What I will say is that I would rather buy Wildrose at $0.25 than Cartaway at $0.30. |
