PFN, been mulling it over: I am goingt to increase my position in PFN on Monday, sell some more RNG wts: My thinking is that PFN has two of the best grass roots PGM plays in north america: river valley in sudbury where anglo has done 20 million in exploration over the last 8 to 10 years.
Mostly open pit, the millions of tons of ore runs 1.67% PGE's .25% pt, .70% PD and some gold/nickel, Rhodium?, etc.
They also have the consession for Platinum Alaska. It is an old alluvial PT producer, but should have a source-(how they found Nova and greenscreek)--good gamble anyway.
Then there is PFN's staking near GGL's new nickel discovery in a brand new potential nickel district.
Last, if PT keeps moving up (my PHD son in law, the chemist says PT supply will be the limiting factor for worldwide pollution control), then it will pull PD up as well and both might pull PFN up as a PGM proxy play-----and then they could always hit something big.
Only 41 million shares out and .44.
Lots of shars for sale now, so no need to wait to post this until I buy and Kaiser has already talked about PFN. He provides an email box for article below, so I guess it is Ok to post his comments:
Kaiser: "Shorts get crunched, Harry Barr rushes to the accident scene
The Winter Lake supracrustal belt hosts tholeiitic basalts, komatiites, serpentinized peridotite and gabbroic intrusions, is strongly deformed, has deep penetrating faults, and contains sulphur bearing sediments. Interestingly, the GSC had described this region west of the Ekati kimberlite cluster as having potential for magmatic nickel mineralization, but government mapping described the outcrop area as consisting of "undifferentiated mafic volcanic rocks". So while traders shorted GGL on the premise that it would be a long time before an orebody is discovered, big picture thinkers piled into the market, catching the shorts off guard and triggering a brief (30 minute) short covering run from $0.80 to $1.50 and back to $0.80. Making matters worse for the shorts was the fact that nickel hit a new high on the day of the announcement. The stock has since stabilized and is now trading like a junior with an excellent conceptual regional nickel play. It's a great story that could end up being worth billions of dollars, but exploring the Winter Lake belt will take time and may not yield a major discovery for a couple years. It does, however, give a new lease on life for a fading diamond exploration junior, and it has inspired Harry Barr to dust off his old "Ambulance Chaser" nickname by prodding Pacific North West Capital Corp (PFN-T: $0.395) to stake nearby ground in what he hopes will become an area play rivaling Voisey's Bay. I closed out the GGL bottom-fish cycle on February 15, 2006 with a Spec Cycle Sell 100% recommendation after the company produced very poor mini bulk sample results that surprised hardly anybody but management. Bottom-fishers who still own GGL should now think of it as a grassroots nickel exploration junior. In broader terms the main significance of GGL's Winter Lake play is that it signals a fairly new willingness among speculators to focus on geological concept plays. Old fashioned speculation on drill programs has been largely absent from the bull market that began in mid 2003. As we make the transition from the commodity price dominated third leg of the resource sector bull market to the discovery oriented fourth leg we will see more and more market responsiveness to exploration news." |
