Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Crazy Fools LightHouse -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (933)	4/12/2006 9:04:00 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 3198

&#8362 David Pescod's Late Edition April 12, 2006 NOVA URANIUM (V-NUC) $3.25 -0.24 WOLFDEN RESOURCES (T-WLF) $3.79 +0.15 We caught up with Don Moore today and I guess the news on Nova Uranium is one of those good news/bad news stories. Looks like the drilling so far on the Nova B zone has gone very well as Moore suggests they are currently drilling on holes 12 and 13 meaning very shortly they will be finished work on the Nova B zone and heading over to the Nova A. That’s the good news. The bad news is that they’ve had problems. Weeks ago, it was a huge blanket of snow that slowed everything down to a crawl and delayed them by weeks. Now, while they are up and drilling it looks like they are having trouble with saws and people qualified to work on the core. It looks like the first person they had, injured himself off the job and it took a while to hire a second qualified skilled person and when he came on staff, they found out the saws weren’t of the needed variety. Now that they are up and running and a second set of saws should be operational shortly to help catch up, this all means that they are still two and a half weeks behind schedule. For those of us who have hopes fostered by the Coffin Brothers talk of a potential $10.00 stock here, delays cause nervousness. Moore fully expects to have the results of the first three holes, out in about two and a half weeks time...something we’ve heard before. We ask veteran market observer, Moore, what he thinks of the last couple of days in the market...is this the start of a correction or heaven forbid something worse? “I don’t think so” Moore says, “I think it’s more of a little bit of a year end blues. Some are selling for tax reasons, some are facing year end at their brokers”. He doesn’t think it’s anything significant. If anything, he suggests there is another run in the gold stocks coming. As far as his favorite stories right now (other than his own) Wolfden Resources is one of the few that he thinks has the potential for a double and looks forward to the company spinning off some of its assets suggesting that the company is probably worth more split up as two than its current one. Either way Moore suggests, “it’s simply not getting the respect in the market place that it deserves”. HABANERO RESOURCES (V-HAO) $1.25 -0.09 If you play the market it’s been difficult for you not to have been spammed by Habanero Resources, a junior oil and gas company that’s long on promotion, long on insider stock selling and very short on actual oil and gas production. We thought that we would re-print a comment by Gord Chan, who writes Canaccord’s Morning Coffee, comment from yesterday: "In tropical and sub-tropical regions, the Habanero, like other chilies, will produce year round. As long as conditions are favourable, the plant will set fruit continuously." – from Wikipedia. We recently pointed out that more established and senior oil and gas operators never start their news release stating "XYZ is pleased to announce..." but simply say "XYZ announces..." Habanero has outdone itself as its latest releases started off, "Habanero is extremely pleased to announce..." The company announced that it acquired three new Athabasca oil sands leases. Apparently, this "extremely pleasing" news release is not good enough to convince the CEO to stop selling his stock, though. According to insider filings on INK, he sold 10,000 shares on March 30, 23,000 shares on March 29, 30,000 shares on March 28, and 20,000 shares on March 27. He has a lot of 10-cent paper that he was selling as low as 17 cents a year ago. We counted 107 separate insider sales over the past year (many of these were on the same day but you get the idea). But, as the saying goes, if you are pleased to sell it at 17 cents you should be extremely pleased to be selling at $1.25.” CHARIOT RESOURCES (T-CHD) $0.58 +0.14 Little doubt what the story of the day was in the junior mining sector today—Chariot Resources, announces an unbelievable hole on their Marcona copper play that came in at 100 meters grading just over 5% copper. Unbelievable! That’s the good news. The bad news….well, if you are worried about politics, it’s in Peru and the other matter is the disease “printing press-itis”. Chariot has just shy of 300 million shares outstanding, so it’s not as cheap as it looks. Huge volume today of almost 42 million shares. People are definitely following junior mining. Disclosure: Wolfden Resources : Canaccord Capital covers this stock and has a Speculative Buy rating on it. (Speculative buy: Stocks bear significantly higher risk that typically cannot be valued by normal fundamental criteria. Investments in the stock may result in material loss.) Chariot Resources : Canaccord Capital covers this stock and has a Hold rating on it. (Hold: The stock is expected to generate risk-adjusted returns of 0-10% during the next 12 months.) If you would like to receive the Late Edition, just e-mail Debbie at debbie_lewis@canaccord.com