Chibougamau, Quebec - the next hot area?
New News
I have built a strong case as to why Campbell is one of the best gold/copper Juniors to own right now.
Campbell Resources
CCH.TO
CBLRF.OB
Sprott Securities agrees with me, they have invested $10 million in Campbell. The escrowed funds were released today. Nuinsco Resources (NWI.TO) also agrees with me, they are investing a couple of million in Campbell, and providing operations management to Campbell.
I have posted my general case on this board, in the past. Here is a newer version from a different message board:
(this summary was written about 10 days ago)
Subject 56786
Now some NEW news, released today (Thursday 9/28)
A small Canadian Junior named Novawest Resources (NVE.V) just released this press today:
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2006-09-27 18:57 ET - News Release
Mr. Patrick O'Brien reports
SHIFTING GEAR IN CHIBOUGAMAU
Novawest Resources Inc. is providing the following update on its various Chibougamau projects.
That news was followed by this post on the StochHouse CCH board by poster “zperformd”.
stockhouse.com
Poster ”zperformd” sees something, and am beginning to see the same thing. The Chibougamau region might suddenly get some attention, and become the “hot new area” that people talk about.
We saw this happen with the Cortez Trend in Nevada. First we saw these articles that named about 5 Juniors operating in this area. The next thing we knew, everyone was talking about it, and Robert McEwen was buying up companies.
The idea that Chibougamau could become a “hot new area” is actually not that far-fetched. Right on the Campbell Resources website, company management talks about their goal of revitalizing mining in the Chibougamau region. Campbell is a company that has been around for 40 years. Their corporate mission is to become a Consolidator of Mining Interests in this region.
So now, all of a sudden, we see this small Junior (NVE.V) moving in. NVE is up 53% today (Thursday).
Campbell has 2 producing mines in Chibougamau, and will have 5 operating projects in Chibougamau by late 2007.
Here's a look at Campbell's exploration properties in the region:
ressourcescampbell.com
And if you notice a project named “Chevrier” on the Campbell website, don't tell anyone (sarcasm), because I really haven't been talking about Chevrier yet in my recent overview posts.
ressourcescampbell.com
Chevrier has a known resource:
MINERAL RESOURCES
>Ore : Gold + Other
-------------------------
Tons Average Thickness
Inferred
3.5 million tons at 5.10 g/ton 2.8 meters
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The thing that's so important here is that I have built my case for CCH ownership on 5 projects:
Copper Rand
Joe Mann
Corner Bay (50% owned)
Cedar Bay
Merrill Island.
And now we see that Campbell has substantial exploration holdings in this area of Quebec, on top of their advanced (and producing) projects.
And then we look closer, and we see that one of Campbell's “back-burner” projects (in Chibougamau) has an inferred resources of about 600,000 ounces gold. That is a “back-burner” project, can you believe that?
Most Juniors are hiring press Agents when they think they found a 500,000 ounce project. Apollo Gold talked about “Black Fox” all summer long. And what did the Reserve study show? About 500,000 ounces. (please correct me if I am wrong on that one – I pulled it out of memory).
The point IS, that Campbell has these kinds of projects on their back burner.
And you can slip in and buy a boatload of Campbell, without moving the price much. That's because the CCH share price is being actively manipulated (suppressed).
IMO, there are a group of Trading Desks that are selling into the market, to try to keep it down, until after the Rights Offering closes (Nov. 6th). Their hope (and prayer) is that the Rights will sell for less if the CCH share price is kept low.
But buyers of CCH today, still get the Rights. It's not “ex-rights” yet. With the Rights, you have the chance to subscribe to Campbell shares for just a few pennies more than Sprott !!
It is so sweet. They keep replenishing the ASK (Ask price of CCH shares). A perfect opportunity for a large buyer to build a position of 1 million shares, or more, without over-paying for CCH.
And keep your ears open for any Buzz on Chibougamau.
Regards,
Benson |
