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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: ogi who wrote (98828)	11/14/2007 3:40:05 PM
From: TrueScouse	Read Replies (1) \| Respond to of 312407

ogi: <<I have added to my LAQ this am @.45. ELN & VMS looking good today>> With very little DD I've opened a new position in LAQ. It's all your fault! <vbg> The one I have done my homework on is El Nino (ELN), and the more I learn the more I like it. I sold the balance of my Anvil this morning and added to ELN after calling and chatting to the ELN President, Jean Luc Roy. I was impressed to find a direct extension to him -- and that he was at his desk before 9 a.m.! I was interested in progress of their first drill program in the DRC... elninoventures.com The first results should be out in early December. They will have drilled a total of about 60 holes -- over 7,000 m with some as deep as 150 m -- on a 100 m grid, with some spaced as small as 50 m. Since this is an area of prior artisanal workings, they know the copper's there near surface -- and apparently they have some very impressive surface samples -- as high as 10% ore (oxidized of course). But Jean Luc tells me that the average grade of minable deposits in the Copper Belt is 4.8% Cu + 0.4% Cobalt. Very valuable stuff! So do a "back of the envelope" estimate for what this could be worth eventually if ELN hits... say: - 600m x 300m to 100m depth = 18M cu.m. = about 50M tonnes - At 2.5% Cu say = 1.25Mt of Cu = 2.75 Billion lbs of copper - At $3.00/lb = $8 Billion in-ground metal value - A market cap at 10% of in-ground value would be $0.8 Billion - 40 M shares FD leads to $20 per share!!! <g> Anyway, you get the idea. This is only one of several highly prospective ELN copper deposits, and they've got a management team that has put major copper mines into production in the DRC over the last few years. Jean Luc Roy was the managing director of First Quantum in the DRC for 5 years, and FM was a 20-bagger during that time. As always, everyone should do their own DD. Best regards, Howy