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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 366.09-0.1%Nov 6 4:00 PM EST
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To: 2MAR$ who wrote (84959)12/22/2011 4:40:02 PM
From: average joe   of 217556
 
"Leni Keough's Olivut Resources Ltd. (OLV), down 10 cents to 84 cents on 8,000 shares, plans to sell 1.6 million flow-through shares at $1.25 and 909,090 regular shares at $1.10. (The split suggests Olivut will spend $2-million next year on its HOAM diamond project near Fort Simpson in the Northwest Territories and $1-million on developing gem plays in South America.) There is no word yet if insiders will be buying. Investors will be watching closely to see if Pierre Lassonde will continue to bankroll Ms. Keough. Mr. Lassonde, the founder of Newmont Mining Corp. Of Canada Ltd. (NMC: $61.11), is ballyhooed by investors and analysts alike as a man with the Midas touch. (Mr. Lassonde had a big success with diamonds, Harry Winston Diamond Corp. (HW: $10.35), and a bigger defeat that the market seems willing to forgive: Shore Gold Inc. (SGF: $0.325).) Investment guru John Kaiser maintains Olivut as a "new bottom fish speculative cycle hold 100 per cent" (note the weasel words) because of its "homerun" potential, to which the presence of Mr. Lassonde is a major contributor. Mr. Kaiser's enthusiasm is dulled by Ms. Keough's penchant for secrecy, not to mention her company's modest results so far, which he says leaves investors with nothing but the hope that "maybe this year we get lucky." Unfortunately 2011 was another unlucky year, so keeping Mr. Lassonde enthused could be a challenge."

Olivut is exploring in Uruguay for diamond. Insiders own about 90% of the stock.

olivut.com
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