The BarkerLetter

February 25, 2008

Greetings investors!

Here’s a cheapie, Wave Mobile, trading as symbol NWWV on the pink sheets (www.pinksheets).

Now before you go all stiff and formal on me, let me tell you that the pinks are not just a home for extremely speculative and in some cases downright suspicious equities. Walmart Mexico trades on the pinks, and so does Air France.

About 18 months I got involved in a pair of pink sheets deals, Playstar - which was a kind of a cell-phone, text-messaging tech play, and Pluristem, a biotech. Both delivered returns in spades. In fact  I bought Playstar for an eighth of a cent per share and it went to $0.18 within 12 weeks.

You like the math there? So do I.

Welcome to the topsy turvy world of the North American grey markets, people!

Anyway, Playstar got bought out late last year by Wave Mobile which was trying to sell lottery tickets by cellphone.  They’ve since applied for an OTC BB listing and changed the business plan to mining. Wave has about 237 million shares issued and trades at a cent a share. They’re not planning a roll back, which is kind of interesting. The stock price has doubled in recent sessions.

The company has recently recruited an exploration geologist with experience in Nicaragua to develop its newly-acquired La Curva gold property comprising approx 2,000 acres in the Bonanza mining district of the so-called Golden Triangle.  La Curva has never been exploited commercially but there are some artisanal workings there, and it neighbours a producing gold mine.

Nicaragua has just recently come onto my radar screen as a viable mining destination, now that the new government has sorted out its mining code. Also the staking costs are quite cheap compared with Mexico and Peru.

Kb