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To: ms.smartest.person who wrote (1069)	5/10/2006 9:13:36 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 3198

&#8362 David Pescod's Late Edition May 10, 2006 PERU COPPER INC. (T-PCR) $5.40 +0.76 I guess you don’t need to go any farther than this chart to explain that the markets are nothing more than “fear and greed”. There is little doubt that Catherine McLeod-Seltzer and David Lowell of Arequipa fame, have come up with another significant mining company in Peru Copper. With mineral reserves of over 1 billion tones at 0.51% copper and 0.018 molybdenum. However, it is in Peru and with the current elections and concerns about nationalization and the like in Bolivia and particular concerns with the Peruvian election, after the stock running up to $4.50 it was almost halved with concerns of politics in the area. Now greed enters the scene, as there is the suggestion that metal’s biggie Southern Copper Corp has suggested that it hasn’t made any decisions on whether to purchase the Toromocho Project in Peru, the company has told the Peruvian Regulatory Agency. Southern Copper has admitted that it has been studying the project to see if was a good fit and was looking at aspects such as financing and operating costs according to Bloomberg. Oh yes, “fear and greed”, today there is definitely more greed than a few days ago. CENTURION ENERGY (T-CUX) $9.27 -2.73 If you go back a little over a year, one of the success stories of the day was Centurion Energy. With their initial discoveries in Tunisia and more importantly in Egypt, it was one of the success stories of the year and the stock flew from around $1.00 and hitting as high as $16.00 to $18.00. Needless to say, it changed some people’s lifestyles. Over the last year or so, though, they have found it hard- pressed to duplicate those initial high-profile exploration successes and today momentum seems to be going the other way “big-time”! Today, they announce three big high-profile expensive and dry wells in Egypt and the positive momentum is gone. Among the brokers that follow it, GMP Securities cuts the target on Centurion Energy to $11.00 from $18.00 and moves it to a hold from a buy. KENRICH-ESKAY MINING CP. (V-KRE) $1.84 +0.09 One thing we found interesting as we walked around Joe Martin’s latest Cambridge House Resource Conference was to ask “grey hairs” for their opinions on the Kenrich-Eskay play. We found that the vast majority of them would have nothing to do with it. We had featured Kenrich-Eskay on January 13th and their play is a big one, just south of one of Canada’s richest mining discoveries ever. It was the Eskay Creek mine whose grades are so rich that it’s been one of most profitable mines around since its discovery back in 1990. We refer to them as “grey hairs”, those are the experienced mining guys, many of whom run their own companies or have been in the mining business for years and can remember, back to the days of the discovery of Eskay. After it was discovered promoters such as Murray Pezim, with his huge portfolio of mining companies totally surrounded the Eskay discovery and drilled the area like it was a pin cushion. No one could come up with anything. So many of the “grey hairs” remember that and suggest that the area has just been totally explored with nothing to show for it. As Wally Boguski, president of Kenrich-Eskay reminds us today, “The huge Kenrich property wasn’t drilled because of legal problems at the time. From the discovery of Eskay to 1995, legal problems meant nothing got done. When the legal problems were finally taken care of, they did get to work and had a small program in 1996.” Then of course he reminds us that Bre-X hit in 1997 and no one cared about mining and it was hard to get money to go explore anywhere. With low commodity prices for much of the rest of the decade, no one has been looking in the area. Now commodity prices are through the roof and Kenrich is going to get a huge look-see this year and Boguski says, “Crews are currently being mobilized for what could be a 100- hole drill program.” Yes, that’s a good look-see. Up until recently, Kenrich-Eskay was a one-trick pony with only this near Eskay property to show for itself, but Boguski pointed to the recent acquisition of a large interest in the Coastal Copper project, a former significant producer in the Stewart area of B.C. Kenrich, with its recent financings which now means there is lots of money in the bank does currently have fully-diluted with approximately 58 million shares outstanding. If you would like to receive the Late Edition, just e-mail Debbie at debbie_lewis@canaccord.com