₪ David Pescod's Late Edition August 27, 2007
CGX ENERGY (V-OYL.U) $1.13 +0.04
An interesting article in the “Guyana Chronical” dated August 25th where Foreign Minister Dr. Rudy Insanally suggested “The United Nations International Tribunal on the Law of the Sea is expected to pronounce on the Guyana/ Suriname border dispute ‘anytime now’.”
There are roughly eight to 11 significant targets offshore Guyana, but admittedly, two of the biggest called “elephants” by some that have seen the data are in the disputed area. And of course, who gets that disputed area is still up to debate.
CGX Energy President Kerry Sully, formerly the boss at Ranchmen’s Resources tells us today. “We think a ruling will be coming very soon. It will lead to our commitment to extensive 3D, both by ourselves and with Repsol, retaining an agent and opening a data room for an auction of a portion of our interest in return for a well commitment to our new deep Cretaceous targets, new resource assessments, and road shows. After seven years of somewhat passive reinterpretation of data and political involvement, we can hardly wait to be active once again in the field.”
CGX now has over 100 million shares and not a lot of money in the bank, but on the other hand, they have a huge portfolio of very significant targets, and whatever the decision is, it is going to affect the stock in the short term. In the longer term, it will be interesting to see how quickly they will actually be able to get out there and start drilling.
 and it’s major use is in batteries. But once again, the story is China and in China, they have a vehicle not seen a lot in North America—electric bikes which are using evermore amounts of lead. Once again, the story seems to be<br>China.<br><br>If you are looking for plays on lead, people usually think of the big guys like Teck Cominco, but two juniors that are obviously enjoying these prices are Blue Note Mining (BN), currently gearing up their Caribou Mine in New Brunswick which should have some interesting financials out in the next 4-6 weeks and Selkirk Metals (SLK) hoping to find out over the next six months, whether their Ruddock Creek project in BC is as big as some people think.<br><br><img src=)
SOUTHWESTERN RES. (T-SWG) $1.70 -0.34
We followed Southwestern Resources over the last few years because there were an awful lot of smart people and analysts that liked the story and if you go into who owns the stock, you know there are some smart people that have owned it over the last while as well. Unfortunately, who was to know what was going on in the data room and a story that has all the feel of a mini-Bre-X.
Today, the company announces that an independent consultant (Snowden Mining Services) have concluded “The database at Southwestern’s Boka Project in China has been manipulated and the previously announced mineral resource is significantly less than reported”. The company has commenced legal action against
former CEO John Paterson and country manager John Zhang.
Canaccord’s mining analyst Wendell Zerb has lowered his target on the stock to $1.30, partly because of all the legal activity this is going to inspire and one that had looked like such an interesting and promising story has gone the wrong way.
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