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To: ms.smartest.person who wrote (1581)	10/13/2006 8:40:01 PM
From: ms.smartest.person	Respond to of 3198

&#9658 Please bear with me ... Between now and Tuesday, I am switching computers and switching from dial-up ISP to broadband. The latter is going to be fun - I don't have a working cd-rom, so I will have to download the software from the internet ... probably with dial-up ... and ... found out today that you [I] cannot transfer email from Earthlink's Mailbox to other email programs. not.very.smartest.person :^(

To: ms.smartest.person who wrote (1581)	10/18/2006 10:44:25 PM
From: ms.smartest.person	Read Replies (2) \| Respond to of 3198

&#8362 David Pescod's Late Edition October 16, 2006 ORVANA MINERALS (T-ORV) $0.67 -0.02 AURELIAN RESOURCES (V-ARU) $28.40 +2.55 PLEXMAR RESOURCES (V-PLE) $0.60 +0.03 GOLDMARCA LTD. (V-GML) $0.93 +0.07 CORRIENTE RESOURCES (T-CTQ) $4.25 -0.08 It’s called “country-risk” and it’s basically nothing more than how safe do you feel investing in certain countries, given their political mind set? Is it in Venezuela where the politicians think they own everything and should run things in a dictatorial way or is it in a “free-market” country where investors can feel relatively safe? This is coming to a head now in a couple of those countries in South America. It looks like the President of Bolivia, Evo Morales, who a while ago nationalized the oil and gas assets of foreign countries, is now going to do the same in the mining sector... Bolivia is in an area of South America surrounded by a lot of mineral wealth in places such as Chile, Peru and Ecuador-although Bolivia itself has scared away many people over the last few months. Orvana Minerals and Apex Minerals are two of the more significant companies that remain and (of course) what happens next to them could become a problem... For those who have discovered Ecuador, mainly through what may be one of the “discoveries of the decade” if not the “last several decades” with Aurelian’s Condor discovery - there is also a runoff election occurring and what may happen there could also become very important, particularly to Aurelian shareholders. Surprising analysts has been the unexpected surge of the banana magnate Alvaro Noboa in a surprising victory in the first round of those elections and will put him against former Finance Minister Rafael Correa for the final election on November 26th. Noboa, one of the richest men in the country through self made efforts in real estate and also inheriting banana plantations, airlines and the likes from his family, needless to say is the free market candidate. Correa suggests the country should walk away from the international debt. Correa also wants to replace the current congress with a constituent assembly similar to the way Chavez runs things in Venezuela. Meanwhile, the area play which has attracted huge numbers of companies from Plexmar to Goldmarca to a handful of others – they have all become volume leaders on the junior exchange over the last while with hopes that some of goodness that Aurelian has might extend onto their ground. If the wrong person gets elected in Ecuador and comes up with some of the policies Chavez has founded in Venezuela, this could become very ugly very quickly! It’s tougher and tougher as we’ve seen from the ongoing mergers in mining for the big guys to find the reserve to replace what they’ve produced in the mining business, so mergers are probably going to continue, at least if you listen to rumors. As we go to the rumor mill, and from various analysts, we find out which companies they think, sooner or later will be taken over. So in no particular order, and no particular continent to start with, names of companies that seem to occur on many people’s take over list include: *Aurelian Resources (ARU),* with its huge project in Ecuador despite political concerns; *AfriOre Limited (AFO),* for its building platinum play in South Africa; Bear Creek Mining (BCM), which already had a big chunk owned by Silver Wheaton; *Cumberland Resources (CLG);* Gabriel Resources (GBU); and *Miramar Mining (MAE)*. DELTA PETROLEUM (US:DPTR) $25.25 +1.02 NATURAL GAS $6.44 +0.785 After all this talk over the last many months of gloom and doom for natural gas prices—one of the warmest winters ever last winter, a summer that was a little cool by traditional standards (not the need for air conditioning) with no hurricanes to interrupt gas production in the Gulf, just a perfect storm of negative news for natural gas bulls. Finally today on Bloomberg, we see potentially positive news or at least those who are positive on gas getting quoted. Chicago-based Citadel, a Hedge Fund, that took over many of the trades that Amaranth’s advisors had to sell when they lost $6 billion in the gas market and are obviously bullish on gas. Meanwhile, some other notable folks such executive officers of Devon Energy and EOG Resources are suggesting for the first time we’ve seen in ages, “Demand for gas used for furnaces and power plants will outstrip supply as production from U.S. wells declines in 2007.” Meanwhile, Boone Pickens is quoted as saying, “If you told me I had to go long or short today, I would go long” he says, although his fund has yet to do so. Today, natural gas is the big percentage mover on commodity markets because of weather forecasts for lots of cold weather with November 1st no longer far away, which is the traditional start for the winter season. Meanwhile, Delta Petroleum, a story we’ve followed a lot of over the last while that is heading up because of the potential of their Columbia Basin River play, hits new highs. There’s lots of reports out on this company now which clients should have received. Must-reading! www.afriore.com www.orvana.com www.aurelian.ca www.corriente.com www.delta-petro.com Disclosure: Aurelian Resources, Corriente Resources, AfriOre Limited, Bear Creek Mining and Cumberland Resources: Canaccord Capital covers these stocks and has a Speculative Buy rating on them. (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.) Silver Wheaton and Gabriel Resources: Canaccord Capital covers these stocks and has a Buy rating on them. (Buy: The stock is expected to generate risk-adjusted returns of over 10% during the next 12 months.) Miramar Mining: 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.) Canaccord has recently participated in financings for Corriente Resources and Gabriel Resources.