Update on Current Holdings
Canadian Shield Resources (CSP.v)
Shares outstanding: 48,906,067
Shares fully diluted: 55,052,433
52 week high: $0.41
52 week low: $0.095
Purchase price: $0.18
Here's a company I have recently bought into after noticing that an insider purchased 100,000 shares in the open market. The company's main focus is silver mining in Peru, where the latest results dated November 23, 2007 showed grades of up to 99.1 g/t over 107 meters at the company's La Estralla property. These are phenomenal interceptions that initially sent the stock up 78% in one day. Since then, however, the stock price has returned to its starting point around $0.18 and presents us with another great buying opportunity.
The company hopes to expand these high grades during its Phase II drilling which is set to start in January 2008 and I believe that similar results could propel the stock even higher than before. Another encouraging factor to consider is that on December 18, 2007, the company closed a private placement at $0.30, which represents a significant premium to the market price.
Finally, the management team is experienced and has a proven track record of success. For example, Interim CEO Bernard Kraft is a long-time director of Agnico Eagle Mines, which is a multi-billion dollar company.
On the technical side, it would appear that the stock price has leveled off between $0.175 and $0.20 and currently has very limited downside.
Indicator Minerals Inc. (IME.v)
Shares outstanding: 59,941,702
Shares fully diluted: 77,685,963
52 week high: $0.90
52 week low: $0.165
Purchase price: $0.26
Indicator is the first diamond exploration company I have invested in, and I was mainly drawn to them because of the partnership agreements they have entered into over the last few years. For example, mining giant Teck Cominco has optioned the company's Darby project in Nunavut and can earn a 51% interest by spending $14 million over four years. Teck is therefore incurring the bulk of the exploration costs while Indicator is free to concentrate on its other projects. What a great situation to be in!
Here is an excerpt from the company's latest news release, dated November 23, 2007:
"We have firmly established that there is a field of diamond bearing kimberlites on the Darby Project," says Indicator President and CEO Bruce Counts. "Large kimberlites have been identified and the chemistry of the indicator minerals recovered from till samples suggest that there may be significantly diamondiferous bodies yet to be discovered on the property. To date, 9 kimberlites have been drill confirmed on the Darby Project and the work completed by Teck Cominco this year has placed the partners in an excellent position to continue the process of discovery in 2008."
Shares outstanding: 48,906,067
Shares fully diluted: 55,052,433
52 week high: $0.41
52 week low: $0.095
Purchase price: $0.18
Here's a company I have recently bought into after noticing that an insider purchased 100,000 shares in the open market. The company's main focus is silver mining in Peru, where the latest results dated November 23, 2007 showed grades of up to 99.1 g/t over 107 meters at the company's La Estralla property. These are phenomenal interceptions that initially sent the stock up 78% in one day. Since then, however, the stock price has returned to its starting point around $0.18 and presents us with another great buying opportunity.
The company hopes to expand these high grades during its Phase II drilling which is set to start in January 2008 and I believe that similar results could propel the stock even higher than before. Another encouraging factor to consider is that on December 18, 2007, the company closed a private placement at $0.30, which represents a significant premium to the market price.
Finally, the management team is experienced and has a proven track record of success. For example, Interim CEO Bernard Kraft is a long-time director of Agnico Eagle Mines, which is a multi-billion dollar company.
On the technical side, it would appear that the stock price has leveled off between $0.175 and $0.20 and currently has very limited downside.
Indicator Minerals Inc. (IME.v)
Shares outstanding: 59,941,702
Shares fully diluted: 77,685,963
52 week high: $0.90
52 week low: $0.165
Purchase price: $0.26
Indicator is the first diamond exploration company I have invested in, and I was mainly drawn to them because of the partnership agreements they have entered into over the last few years. For example, mining giant Teck Cominco has optioned the company's Darby project in Nunavut and can earn a 51% interest by spending $14 million over four years. Teck is therefore incurring the bulk of the exploration costs while Indicator is free to concentrate on its other projects. What a great situation to be in!
Here is an excerpt from the company's latest news release, dated November 23, 2007:
"We have firmly established that there is a field of diamond bearing kimberlites on the Darby Project," says Indicator President and CEO Bruce Counts. "Large kimberlites have been identified and the chemistry of the indicator minerals recovered from till samples suggest that there may be significantly diamondiferous bodies yet to be discovered on the property. To date, 9 kimberlites have been drill confirmed on the Darby Project and the work completed by Teck Cominco this year has placed the partners in an excellent position to continue the process of discovery in 2008."
Although I did not manage to enter at the very bottom of the trend, I am very satisfied with my average price of $0.26. Since mid-December, the stock has nearly doubled on higher than average volume, but it is still a long ways off its high of 2007. I am not expecting any substantial news in the near term and may decide to swing trade if the opportunity presents itself.
Kinbauri Gold Corp. (KNB.v)
Shares outstanding: 43,538,320
Shares fully diluted: 67,086,236
52 week high: $1.00
52 week low: $0.36
Purchase price: $0.45
Kinbauri never seems to let me down. I have been in and out of this stock numerous times over the years and have always made money. I have recently bought back in at $0.43 and $0.47 and the stock is already starting to climb. In the past week, M Partners (House 97) has been buying virtually everything available and it is my understanding that they have set a price target of $1.50.
The company is continuing to expand its resources and hopes to complete a 20,000m drilling program at El Valle/Carles between now and July. In addition, bids are being received to complete a scoping study by May 2008 and a feasibility study by November 2008. By the looks of things, Kinbauri is on schedule to re-open the El Valle mine in 2009 and reach full production of 145,000 ounces of gold by 2010.
To see the most recent corporate presentation, click here.
Shares outstanding: 43,538,320
Shares fully diluted: 67,086,236
52 week high: $1.00
52 week low: $0.36
Purchase price: $0.45
Kinbauri never seems to let me down. I have been in and out of this stock numerous times over the years and have always made money. I have recently bought back in at $0.43 and $0.47 and the stock is already starting to climb. In the past week, M Partners (House 97) has been buying virtually everything available and it is my understanding that they have set a price target of $1.50.
The company is continuing to expand its resources and hopes to complete a 20,000m drilling program at El Valle/Carles between now and July. In addition, bids are being received to complete a scoping study by May 2008 and a feasibility study by November 2008. By the looks of things, Kinbauri is on schedule to re-open the El Valle mine in 2009 and reach full production of 145,000 ounces of gold by 2010.
To see the most recent corporate presentation, click here.
posted by Eric G. at 5:07 p.m.
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