₪ David Pescod's Late Edition March 19, 2007
OILEXCO INC. (T-OIL) $7.67 -0.03
“LET THE GAMES BEGIN!” Oilexco today announces that they’ve got a fairly decent well at Kildare—not something that’s going to change the world in a big-way, but then Oilexco has a nice portfolio of small plays that when put together could create a fairly significant company or at least that’s one thing that were counting on!
But, for those looking for the big high-risk, high-reward play, the rig will hopefully be leaving from Kildare to go to Laurel Valley for the big, big play and according to one source, that spud date could be anywhere between March 23-25.
We hope to get some more updates, needless to say shortly, and the important one to hear from is going to be Fred Kozak. The analyst formerly with Haywood is making a new home here at Canaccord and he’s been one of the best at predicting “What next for Oilexco?” He’s currently restricted, but on Friday of this week that rule comes off and what ever he says we suspect is going to be must reading!
GOLD $652.80 +0.60 (Kitco Close)
We’ve seen something interesting over the last few days and that’s the disconnect between the junior mining stocks and metal prices. Nickel continues to flirt with new highs, copper prices have bounced back and others have done fairly decently as well ,while many junior mining stocks are swooning.
The Hard Rock Analyst, put out by the Coffin Brothers — Eric and David on Friday, took a good look at those metal prices and some of their comments we find intriguing.
First of all, they make some interesting comments on copper and it’s ability to bounce back due to Chinese demand and suggest that current nickel prices are so high that sooner or later people who usually need it are going to find substitute minerals.
On uranium they make this beautiful comment - “this sector simply has 200 more junior explorers then the market needs” and they also have a very intriguing comment on zinc, which they call the “Rodney Dangerfield” of the metals market … it simply gets no respect at all, particularly when you look at the fundamentals of the metal which suggests things are looking great for it.
As far as which metal they would be buying right now….they suggest it’s gold!
Meanwhile the Coffin brothers will be at Joe Martin’s Cambridge Conference in Calgary on March 31 & April 1 and if you are there, ask David Coffin about the Ecuadorian based mining stocks that are trading so cheaply such as Aurelian Resources (ARU), Corriente Resources (CTQ), Coastport Capital (CPP), etc as David Coffin has spent a lot of time down there.
ORIENTAL MINERALS (V-OTL) $2.80 +0.24
It looks like some thing’s that you could count on, suddenly you can’t count on anymore…...Joe Martin is the fellow who has created the success of the Cambridge House Conference Group, that enables the average investor/speculator to visit with the junior explorers and first hand find out what’s going on!
His shows in Vancouver have attracted close to 10,000 people lately and on the weekend of Saturday, March 31 and Sunday, April 1 they are planning the next big show in Calgary. If you’re in the neighborhood, make sure you plan to attend!
One thing about Joe Martin has been that despite his association with so many of the mining companies, the fact that he knows everyone and probably has so much if not too much money invested in many of them, whenever we ask him for a pick every year …... the only thing certain in life has been that his pick would go down.
Last year, for a few days, his pick of Senator Minerals (SNR) was actually up before it started a slow process of almost disappearing! This year his pick of Oriental Minerals (OTL) has gone quite the other way, being one of the success stories of the last couple of months.
He suggested it back on February 1st when it was $1.40 a share and look at how it has fared in a market that’s’ becoming ugly!
Anyway at his big show in Calgary on March 31 and April 1 we were invited as a speaker, but on those dates we are in Mexico and won’t be able to make it! But, if you can there are a couple of companies you’re going to have to visit with!
Brilliant Mining (BMC) and Committee Bay Resources (CBR) are both Canadian based mining companies that are coming up with some surprising success in Australia.
Brilliant Mining could have their high grade Deacon Zone in production as quickly as 12 months and if this happens, I suspect, these prices will be higher and Committee Bay, as well, has been coming up with some interesting gold discoveries.
With Rambler Metals & Mining (RAB) a relatively new listing in Canada — the question becomes what does billionaire Harry Dobson see in this play and can this company replicate the success he had with Klondike Gold (KG)?
Canadian Royalties (CZZ), with nickel prices so high, one almost wonders how come this stock hasn’t been doing better? Some people suggest that this is a take-over candidate, but if you’re there ask the question first hand. |
