The BarkerLetter

November 13. 2007

Greetings investors!

I think it’s time to buy West Timmins Mining (WTM.TSX).

I got involved in this gold explorer when it opened a year ago on Canada’s Toronto Stock Exchange at $0.30 Cdn per share. The stock got to $1.30 last July before pulling back during the sell-off in August. It trades at just under a buck Canadian now.

The company has been active in northern Mexico where it has very roughly outlined the perimeters of a 3 kilometer wide gold, copper, zinc discovery called La Dura, within a larger mineral district known as Montana de Oro. 

It’s early days on that one yet but they’ve pulled some very impressive grade to date and recently inked some jv’s to net a controlling interest in the neighbouring properties.

I think the simple word ‘mining’ in WTM’s corporate name more or less sums up their raison d’etre. The company wants to be a mining company, not a find ‘em, drill ‘em, sell ‘em off junior that fades back into the woodwork when the bull market ends.

To that end, I’ve seen them aggressively acquiring advanced exploration stage gold properties throughout Mexico over the past six months. Yes, there’s some dilution as a result of that but that’s not unreasonable given the company’s long-term goals. It currently has a market capitalization of some $100 million Cdn.

For that reason and others I think West Timmins is a solid buy currently at under a dollar, no matter what your investing objectives are.

Kb