I’m watching Peregrine Diamonds (PGD.TSX) heading into the new month.
At least one rating (Westwind Partners) on Peregrine has been raised to buy from hold in recent weeks on what is deemed the early success of PGD’s bulk sample program at DO-27 in Canada’s Northwest Territories.
We’ve been told the program is well underway, with 1,000 metric tons collected from the DO-27 kimberlite so far. The ice-based drilling is proceeding without the technical challenges it experienced last year.
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admin on March 30th 2007 in Commodity investing, Diamond
Here’s a pair of junior picks rising of late: Dentonia Resources (DTA.TSX), and Detour Gold Corporation (DGC.TSX).
I wrote these deals up last month, well after Detour Gold had initiated a +50,000 meter drilling campaign at Detour Lake in northern Ontario. I rather expected to see results by now, but they haven’t been released. Somebody’s buying DGC though: the stock has vaulted on thin volume to just over $4 per share.
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admin on March 28th 2007 in Commodity investing, Gold
Xstrata plc announced last week it was buying LionOre Mining (LIM.TSX) C$4.6 billion in cash.
I believe this is the beginning of a very sudden wave of consolidation in nickel. Nobody expected the metal to rise to its current price on the LME, much less stay there.
The top four companies in the nickel market reportedly have 65% of supply and most of the big projects. I suspect that’s far from where they would like to be.
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admin on March 26th 2007 in Commodity investing, Nickel
Here’s a stock whose time has come – Cabo Drilling Corp, or CBE.TSXV.
Cabo spiked today on news of a drilling contract with Bellhaven Copper & Gold Inc. (BHV.TSXV) in the Republic of Panama. That entails 5,000 meters of drilling on Bellhaven’s Cerro Chorcha and Rio Liri properties located in the Western Highlands of Panama.
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admin on March 23rd 2007 in Commodity investing
First Nickel Inc (FNI.TSX) gained a few cents today on news of a significant discovery on the north range of the Sudbury Basin in Canada’s Ontario province.
I’ve always liked Sudbury, partly because of a very interesting theory about its formation. Scientists believe a meteorite hit the region countless eons ago, turning a portion of the earth’s mantle inside out and creating rivers of exposed magma which formed minerals. To date, some 30 economic polymetallic orebodies have been discovered there.
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admin on March 22nd 2007 in Commodity investing, Nickel
Near-term nickel miner Crowflight Minerals (CML.TSX Venture Exchange) looks set to go. The stock was up $0.04 to $0.62 Cdn today today, probably on speculation that the Canadian goverment will issue a full mining permit for its wholly-owned Bucko Lake project in Manitoba’s Thompson Nickel Belt (TNB).
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admin on March 21st 2007 in Commodity investing, Molybdenum
Last week I wrote about a proposed merger involving Canadian base metals explorer Wolfden Resources Inc. (WLF.T). The stock had dropped to $3.50 Cdn per share while Australian zinc miner Zinifex Ltd. ( ZFX.AU) pondered its final offer.
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admin on March 20th 2007 in Commodity investing, Zinc
Shares of Canadian diamond explorer SouthernEra Diamonds (SDM.TSX) spiked over 40% on Friday on news of a potential stock swap with Mwana Africa plc.
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admin on March 16th 2007 in Commodity investing, Diamond
