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Gold/Mining/Energy : Canadian Rocket Red's Picks

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From: Aragorn1968	7/6/2006 9:39:21 AM
	of 19697

LRG new ARU/PLE neighbour, only 13 million shares outstanding !!! Lateegra Gold acquires new claims near ARU/PLE Snapshot: ARU CTQ DMM GML LRG ODN ORR PLE CDNX: LRG Lateegra Gold has now entered the staking rush in Peru along the Ecuadorian border by acquiring claims 7.5kms adjacent to Aurelian Resources newly discovered Fruta Del Norte deposit. lateegra.com Lateegra also holds claim to a few British Columbia mineral stakes and has also entered an agreement to acquire a 100% interest in the Guadalupana Mine lateegra.com in Mexico. The company has been given a new lease on life after a recent ten for one share consolidation. Share Structure: ($583,000 cash from recent PP) 17,950,000 outstanding (includes recent PPs) 10,760,000 warrants 2,600,000 options Closing of a recent private placement has provided some cash to the company but with a sharp run up in share price a new private placement is a definite possibility here. The company requires 1.49 million over the next five years to acquire the Guadalupana mine and with their corporate history and exploration requirements you can bet a PP will not be far behind. The majority of current warrants outstanding are long into the money at .10 exercise expiring January 18, 2007 (8.7 million) so there could be some drag on a run up in share price initially but with the small float outstanding, I wouldn't expect much. If you want to see what a large outstanding warrant issue can do to slow a potential run up just take a look at Plexmar Resources. After they announced news of their recent staking in Ecuador the stock had to burn through some 25 million warrants before and traction was established in the share price.

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