Bought TME.v and FUR.v

This week's correction has presented us with a good opportunity for bottom-fishing. My stink bid for Temex Resources (TME.v) was filled today, and my bid for Fury Explorations (FUR.v) was partially filled yesterday. Here is some information on both companies:

Temex Resources (TME.v)

Shares o/s: 57,061,462
Shares f/d: 70,453,263
52 week high/low: $0.80/$0.25
Purchase price: $0.38

Temex, a well-funded Canadian exploration company, is focused on advancing its gold, silver and diamond projects in northeastern Ontario. The company is well funded with $4.0 million in the treasury and has no debt.

The latest drilling results from the company's Gowganda property in Ontario were very impressive. Here are the highlights:

4,560 grams per tonne silver over 0.75 metres in hole TGS-06-03
6,066 grams per tonne silver over 0.70 metres in hole TGS-06-04
1,885 grams per tonne silver over 0.30 metres in hole TGS-06-02

Also, the CEO (Ian Campbell) has been accumulating shares at these levels for the past months:

02/19 - Ian Campbell - Acquisition in the public market - 2,500 - $0.49
02/14 - Ian Campbell - Acquisition in the public market - 2,000 - $0.48
02/09 - Ian Campbell - Acquisition in the public market - 4,000 - $0.45
02/09 - Ian Campbell - Acquisition in the public market - 3,000 - $0.44
01/12 - Ian Campbell - Acquisition in the public market - 3,500 - $0.38
01/10 - Ian Campbell - Acquisition in the public market - 2,000 - $0.39
01/08 - Ian Campbell - Acquisition in the public market - 2,000 - $0.405
01/05 - Ian Campbell - Acquisition in the public market - 10,000 - $0.40
01/04 - Ian Campbell - Acquisition in the public market - 11,500 - $0.43
01/04 - Ian Campbell - Acquisition in the public market - 3,000 - $0.41

From a technical standpoint, the chart seems to indicate that we will be bouncing off the existing upwards trendline and should be able to reach the $0.55-$0.60 level before the next short pullback:

(click image to enlarge)

Fury Explorations (FUR.v)

Shares o/s: 25,029,427
Shares f/d: 37,939,244
52 week high/low: $1.45/$0.42
Purchase price: $0.74

Fury Explorations is a mineral exploration and development company strategically positioned to achieve near-term cash flow, while assembling a portfolio of early stage projects with high economic potential.

The company is currently exploring for silver in Nevada and Mexico, and is much closer to production than Temex. In fact, in Nevada the company has recently purchased the Taylor Mill complex, a modern producing mill that can easily be recommissioned. The results from the latest drilling in Nevada were very promising, here are the highlights:

77.9 grams per tonne silver over 105 metres in hole FT-3-C
60.3 grams per tonne silver over 75 metres in hole FT-3-C
104.8 grams per tonne silver over 20 metres in hole FT-4-C
102.5 grams per tonne silver over 39 metres in hole FT-14-C
116 grams per tonne silver over 55 metres in hole FT-19
126.7 grams per tonne silver over 30 metres in hole FT-20

On the technical side, the stock is once again oversold and should bounce off the trendline around the $0.75 mark:

(click image to enlarge)

Aurogin Resources (AUQ.v)

Just a quick note to say that Aurogin is currently halted pending a news release. Rumours are circulating that it may be related to a merger or acquisition involving Morgain Minerals (MGM.v). I will keep you posted as things develop.

Please do your own due diligence, these are not recommendations.