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To: ms.smartest.person who wrote (2413)	5/4/2007 10:13:35 PM
From: ms.smartest.person	Respond to of 3198

I did not get Pescod's LE for 5/3 & 5/4 - anyone get those issues?

To: ms.smartest.person who wrote (2413)	5/7/2007 12:58:11 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 3198

&#8362 David Pescod's Late Edition May 3, 2007 LIONORE MINING (T-LIM) $23.75 +4.80 GLOBESTAR MINING (T-GMI) $2.21 +0.21 CDN. ROYALTIES (T-CZZ) $4.44 +0.56 BRILLIANT MINING (V-BMC) $2.75 +0.23 BLACKSTONE VENT. (V-BLV) $1.45 +0.16 In the old days you used to know what precious metals were...they were gold, silver and the like. These days the real precious metals seem to be things like molybdenum, and particularly today—nickel. Norilsk Nickel which is the world’s largest producer of nickel has decided to enter the bidding war for LionOre Mining and has announced a $21.50 per share cash offer for the company, which trumps Xstrata’s friendly bid of $18.50 per share cash offer which was announced back on March 26th. That’s a nice premium and today most people in the market were looking for something...nickel... and there were a couple of juniors that benefited from all this attention. Globestar Mining was one of them and it’s a junior that we’ve featured quite a bit and they picked a good day to announce some news of their own. Today Globestar announces their results of the rest of its drilling program at Cerro De Maimon development project in the Dominican Republic and it contained 20 holes, almost all of which you would you happy to discover yourself, but there were a few spectacular ones as well including 9.4 meters of 11.1% copper. While this is a copper mine that they’re working on and production on this mid-size facility should commence mid next year, it’s drilling on their nickel play with results out some time in the next two months that we figure the markets paying attention to. In the news announcement today, they suggest… “Drilling complements our nickel exploration program, which has already completed 27 holes of the 67-hole infill program in the Cumpie Hill and Loma Mala areas.” What’s so intriguing about this? Well, if the nickel is there, people are going to care given current nickel prices and also it’s just within a few miles of the Xstrata nickel refinery which is also in the Dominican Republic. Ah yes, that’s the same Xstrata that just lost LionOre, but might need nickel feed? Another big winner today in the nickel game has been Canadian Royalties and their Raglan nickel project continues to attract attention, particularly given current nickel prices. They have a very aggressive drilling program scheduled for this summer and they only have a brief window to get that drilling done, given the conditions in farthest, most Northern Quebec. Interesting to see that the directors of Canadian Royalties, Chairman, Glenn Mullan and Director, Bruce Durham, both defeated a lawsuit that Ungava Minerals had hit them with and the Quebec Superior Court has dismissed the charges and costs are to be paid by Ungava Minerals. Brilliant Mining is another nickel player with their interests in the Lafranchi Project in Western Australia and it too, has a nice pop today. Meanwhile, Blackstone Ventures, which has been looking for nickel in Norway on a rather scattered off and on basis over the last few years, announced that their first phase of drilling at their Langdalen target in Norway (this is a historical producer that produced 250,000 tons grading 2.5% to 2.5% nickel in its days) a hole today that intersected 1.39% nickel and 1.85% copper over 2.3 meters. Blackstone currently has two drills looking for nickel in Norway and two drills in Sweden with two more drills starting soon. Stay tuned! BLUE NOTE MINING (V-BN) $0.56 +0.105 Blue Note Mining gives a project update today on their Caribou project in New Brunswick (can New Brunswick be lucky for speculators again such as in Corridor Resources?). Their news release mentions that they currently have over 500 people working on site and that the company has hired over 80% of its staff for the mill and they are working regular shifts. They also suggest that the “Cold Commissioning” of the mill is scheduled for mid-May with first ore production still on track for the latter part of the 2nd quarter of 2007. One of the big concerns for followers of this project is the recovery of metal, which in the old Breakwater days, never got up to expectations and when commodity prices plummeted, the project was shut down. The Vice President of Blue Note, Lorne Woods tells us that the current CEO of Blue Note was with Breakwater and he put the plans in place to re-open this line way back in the days when he was still with Breakwater and the key part of the project they are working on now is the installations of three IsaMills in their project to make sure that there are no recovery problems. Woods suggests that their revenue projections are for $25 to $35 million pre-tax cash flow this year and rising to $55—$64 pre-tax cash flow next year. For those trying to follow this story, there is only one research report currently out by Octagon with a $1.00 target, but Woods suggests there should be two or three additional reports out with background on the project by the time it is up and running. The one negative for this rather significant zinc-lead project is that Blue Note has roughly 220 million outstanding.