The BarkerLetter

November 7, 2007

Greetings investors!

Here’s a stock I’ve been following since last winter:  Pediment Exploration Ltd. (PEZ:TSX-V, PEZFF:OTC).

I got involved at about $0.60 Cdn per share (it’s over $3 now), when the company signed a jv with Inmet Mining to explore the copper/gold Caborca project in northcentral Mexico. The companies are now engaged in drill testing the targets there.

The targets within the 14,000-hectare project were located from extensive surveying and sampling last year and this. The company believes the project may host one or more substantial copper-gold porphyry bodies.   Inmet Mining seems to agree.  They’re spending $5,000,000 on exploration over four years to earn a 70% interest.

I rather like this deal because it frees Pediment to continue acquiring properties for its portfolio. Pediment continues to hold a 100% interest in the adjacent Lista Blanca zone which it drilled last year, and announced another acquistion this month.

More recently, PEZ acquired the La Colorada Mine, formerly owned and operated by Eldorado Gold Inc. La Colorada was once the largest gold producer in Mexico’s Sonora State, located 40 kilometers south of the mining capital of Hermosillo.

Pediment remains aggressive and seems to be picking up some speed going forward. It has a market capitalization of approximately $110  million Cdn.

Kb