LRU

[rossi]

did some comps last night that point to four to six dollars per share in the not too distant future.

My comparisons are based on mkt value per section, and mkt value per recoverable bbl., whichever is most comparable.

IMVHO, PFM will be better than STP in share price appreciation. I have placed my bets accordingly. STP holders, don't be offended. STP is a great story too, and you will make good there, I just think PFM is the cream of the crop right now.

Some point out that the exact location of our land not being disclosed increases risk to PFM holders - you are absolutely correct - it does. But, what you must do is to quantify that risk vs the benefit. The risk is so darned small IMHO. If that risk were removed, ie. the exact coordinates of our land being disclosed, you would pay another dollar per share instantly. I am willing to make that wager. I will repeat what I said earlier, "I have not yet found a bumb deal" that did not set out as a Pump and Dump. And 40 sections at 100% WI is as far away from a P&D as you can get. The very fact that so much has already been done without any pumping, speaks to the legitamacy of this OS asset play.

I used to think that the easiest to pick lowest hanging fruit was gone in the mkt. Boy was I wrong, this is as easy as it gets.

AIMHOBWTFDIK,DYODD,GL,VE
nb

PS: My eariest comps were pointing to $1.50 based on 23 sections in the ST. Now with 40 sections of land and only an extra 4 million shares - you do the math. My gut feeling is we likely paid 3-4 mil for the newest 17 sections. The best of it is that it is CONTIGUOUS LAND. This is very important; it cannot be emphasized enough. The synergy and economy of scale will attract more and higher bids down the road when we get taken out.

[rossi]

y own call on PFM, after revieiwing all of the evidence, suggests that this near-term upward trend should continue over the next few weeks and months for a variety of reasons.

.....One reason is the fact the Oil patch is heating up (
http://www.stockhouse.com/bullboards/viewmessage.asp?no=14617949&t=0&all=0&StartDir=N&am... ).
The oil and gas sector fell flat on its face after the spring of 2006, as valuations had increased substantially and as investors turned their capital to base and PM plays. THis trend has reversed itself in early 2007, and we are now seeing investors looking for the next big wave.

The other reason for increased interest in this sector is that Oil Prices are expected to increase (
http://www.stockhouse.com/bullboards/viewmessage.asp?no=14591044&t=0&all=0&StartDir=N&am... ).

....another reason is the fact that conventional oil and gas reserves in Canada have been declining for nearly a decade, which is why Oil investmest is shifting to the oil sands (
http://www.stockhouse.com/bullboards/viewmessage.asp?no=14561842&t=0&all=0&StartDir=O&am... ).

However, there arent many junior oil sand plays that are publicly listed ( less than a dozen ) and many of those that are availbale have already seen their market caps increase by an order of magnitude or more ( eg UTS at $2.5 billion ).

So, the choice is limited, and in such cases leverage is the key variable and PFM has the greatest leverage of those that are still attractive.

We also know that evaluation time is very rapid for Oil sand evaluation and that oil sands can be rapidly developed (
http://www.stockhouse.com/bullboards/viewmessage.asp?no=14643364&t=0&all=0&StartDir=N&am... ).

Evaluation of oil sand asset value is fairly straight-forward ,with recent evaluations at $1 per recoverable barrel and increasing with time (
http://www.stockhouse.com/bullboards/viewmessage.asp?no=14809555&t=0&all=0&StartDir=N&am... )

......also junior oil sands are strong asset plays( http://www.stockhouse.com/bullboards/viewmessage.asp?no=14763339&t=0&all=0&StartDir=N&am... )

....Further, as the Q1 report states, PFM is about to make more oil sand acquisitions which , even at 26,000 acres, places us in the elite leagues

....As well, we will soon see the commissioned report on the initial 15,000 acres of oil sands

....Its also possible that management have a JV partner already lined up to take the project to production. Such news could cause the market cap to quarduple or more overnite...

...and, of course, PFM has yet to provide the company with any investor exposure activities and those too are on the way.


For these reasons, and because PFM has existing production to pay for most of the G & A operating costs, I see PFM moving to the $4 level during the summer...perhaps higher should our bitumen-in-place be quantified at better than average recoverable oil densities.

It looks like Cannacord's position was taken out last week, so we could see a more rapid appreciation in the coming week..

[rossi]

Tumi Intersects 24.4m Grading 6.4 g/t Gold and 1,629 g/t Silver at La Trini, Mexico
Vancouver, Canada. Tumi Resources Limited ("Tumi" and/or "the Company") (TSXv-TM; OTCBB - TUMIF;
Frankfurt - TUY). David Henstridge, President of Tumi, reports that reverse-circulation drill-hole TRCC 32 drilled to a
depth of 186m, intercepted 24.4m grading 6.4 g/t gold and 1,629 g/t silver from a depth of 130m below surface. See
Table 1 on page 3 for all drill results.
Since 2005, the Company has been advancing the development of its 100%-owned La Trini silver-gold project in Jalisco,
Mexico. To date, the Company has drilled 35 reverse-circulation drill holes totalling 4,112m in two drill campaigns. The
Company's phase-two drill program has been focused on better defining the mineralized core zone and
establishing where future detailed drilling should occur.
Said Mr. Henstridge: "The results from TRCC 32 are significant and have identified an area where we will be focusing our
future work program. As part of the phase-two drill program a number of step-out holes were drilled up to 900m west and
600m east from the mineralized core zone to test the extensions of the rhyolite host rock, but these drill holes did not
intersect any significant mineralization. Drill-hole 32 is located 150m north of the limits of the old underground workings
within the core area, and mineralization intersected may represent a newly discovered bonanza zone."
Drilling, coupled with the surface and underground sampling programs in and adjacent to the main target area, has
defined a 400m-long northerly trending mineralized zone. The zone is 200m wide and remains open down-dip to the
north. Within this zone there appears to be a higher grade corridor along the eastern edge, possibly adjacent to a major
fault zone. Selected intervals from both drill programs within the higher grade zone include TRRC 6 (18.3m at 3.1 g/t Au
and 150 g/t Ag), TRRC 9 (6.1m at 1.1 g/t Au and 201 g/t Ag), TRRC 10 (10.1m at 1.6 g/t Au and 130 g/t Ag), TRRC 11
(5.1m at 5 g/t Au and 184 g/t Ag) and TRRC 32. The table of all drill intercepts from both drill programs in the mineralized
core zone along with a drawing showing the drill-hole locations and extent of the zone also appear on the Company's
website, www.tumiresources.com under Projects/La Trini.
Mr. Henstridge added: "The results from TRRC 32 have identified an exploration target which requires immediate further
drill testing. We are planning a phase-three program of closely spaced drilling to define the size and orientation of this
high-grade zone further and to define the extent of the main zone. We will schedule this program after a short break at
the end of the Company's Phoenix drill program currently underway in Sonora."
Grab sample checks of the high-grade intervals from the stored drill samples have returned comparable results, and
polished sections made from two of the samples has identified argentite (silver sulphide) grains, locally rimmed with native
silver, jalpaita (a silver-copper sulphide) and native gold. It should be noted that due to the nature of RC drilling and the
lack of nearby data, geological interpretation of the extent and true thickness of mineralized drill intercepts remains
uncertain.
The qualified person for Tumi's projects, David Henstridge, a Fellow of the Australian Institute of Mining and Metallurgy
and a Member of the Australian Institute of Geoscientists, has visited the Company's projects in Mexico and has verified
the contents of this news release.
Quality Control: RC drill samples were collected on 2.03m intervals. Each sample was split on site using a Jones splitter and stored for later use. The site geologist subsequently selected the intervals to be sampled, and the entire interval was run through the Jones splitter twice more to aidhomogenization. One-half of this interval was split further to a nominal 5 kg size and sent to Sonora Sample Preparation, S.A. de C.V. in Hermosillo

[rossi]

NPE = 60,480 acres of land
BQI ( amex ) = 23040 acres
NPE = 2.5 billion OBIP
BQI = 1.50 billion OBIP
NPE = 34M O/S
BQI = 175M O/S
NPE = 1.70
BQI = 3.05

sandtrap ...I am in agreement with BigPapa on your last post you forgot to mention that The extended Axe lake area alone has a OBIP of 1.5 billion barrels, the 3 townships in Alberts have 3.0 Billion barrels OBIP and the South axe lake area has 1.5 barrels OBIP that comes to around 6.0 billion barrels!!!

AND they have only looked in around 3% of their total lease that's why NPE trades where it does and BQI trades where it does.

Buy on Dips!

[rossi]

NPE
North Peace gets $7.04-million from warrant exercise

2007-04-16 16:21 ET - News Release

Mr. Louis Dufresne reports

NORTH PEACE ENERGY CORP. - EXERCISE OF WARRANTS AND COMPLETION OF DRILLING PROGRAM

All 9,396,000 outstanding purchase warrants of North Peace Energy Corp. were exercised effective April 10, 2007, the expiry date, resulting in the issue of 9,396,000 common shares at an exercise price of 75 cents for total cash proceeds to the company of $7,047,000. These funds will be available for the company's future capital expenditure program.

North Peace now has approximately 26.3 million shares outstanding (basic) and 34.3 million shares on a fully diluted basis. Management, directors and insiders own approximately 19 per cent of the basic shares and 26 per cent of the fully diluted shares.

North Peace has now finalized its winter drilling program with the drilling of two final stratigraphic wells on the company's land base in north-central Alberta. The company has now drilled and cored nine stratigraphic wells in the area and continues to evaluate data collected from these wells to complete an internal resource characterization assessment.

The results of the winter drilling program will be used to develop a capital expenditure program for the rest of 2007 and 2008. The company anticipates providing more information about its planned capital expenditure program in late May.

[rossi]

ECU
Latest Developments

Since early March 2007 over 15 different analysts have ALREADY visited the site and Mike Fowler of Desjardin Securities has already begun coverage on ECU. That is a GREAT accomplishment by new ECU President, Stephan Altmann and the rest of the ECU team.

For those of you that have already visited the site, you know that once you see the mine and the stockwork zones, you can’t help but be very impressed. Thus far, the feedback from the visitors has been extremely positive and many have requested second visits so their mining engineers/geologists/ etc may take their entire crews on site.

Further good news is that according to my math, already over 3 million shares have been bought in the open market by funds since February. But before the brokerage houses really start telling and “pitching” the story to ALL and their BEST clients, they must perform their own due diligence on the company. That takes time and more than one visit.

We are being given ZERO valuations on our other properties

The market rolled its eyes on the GREAT results from San Mateo mine earlier this year. In a nutshell, ECU already feels San Mateo has the potential to be a robust separate mine in addition to the Santa Juana mine. They are currently drilling to test continuity at depth of known mineralized veins, but the general lack of interest in mining shares as demonstrated by the HUI underperforming gold and silver bullion in the last 6 months means that few investors are taking note. They will!

San Diego drill results have been nothing short of excellent thus far, but again the dearth of buyers generally in the mining sector has meant that the value has yet to be reflected in the share price

The company is also drilling the Chicago property and I understand that real great results are likely in the near future given the excellent surface work to date.

So the fundamental valuation just keeps increasing. When interest returns to the sector in general shortly, ECU should play catch up in an impressive way.

Other items

Why fewer Press Releases?---- The company has issued 8 separate PRs (many with outstanding drill results) since January 10, 2007 . The ensuing rallies never seem to last for long. While the company has reduced the frequency of issuing PRs, I honestly think it would have made little difference because of the shorting games/natural selling and the sector-wide consolidation going on.

Furthermore, people seem to forget that even at 'only' $2.50 CDN, ECU has a market cap of $575 million CDN on a fully diluted basis (FDB) and thus, unlike early 2006 when our mkt cap was less than $100 million, PRs that would have a much greater impact in the past no longer do in the current environment.

43-101---- The discovery of the Mineralized Corridor (MC) in the fall of 2006 had the company allocate all the equipment they had into the Santa Juana mine to start defining the ore body, which meant other areas had to be ignored for the time being. The work/effort/human resources/capital/time required for the completion of a 43-101 are more than most of us realize.

Right now, along with almost every other miner, ECU's greatest need is NOT to find more ore but to hire additional qualified geologists to integrate the EXISTING data on the resources already found. Shareholders must understand that there is a large gap in the timing between reporting the discovery of an ore body via a regular press release and being able to present extremely detailed data on that discovery within National Instrument 43-101 compliance requirements.

Not to get too technical, but just to upgrade the 'category class' of our last 43-101 numbers, a massive amount of new drilling had to be done to harvest the data needed to meet 43-101 compliance. Thus, instead of using these same drills to try to discover new resources, a great deal of resources are being allocated to putting holes in already known parts of the deposit to update the inventory into a higher status.

But this will pay off in spades since the more ounces we can show moving closer to the 'reserves' category, the greater value our 'in-ground' ounces will be given. For example, if ECU did nothing else over the next few months but to drill enough holes so they can have enough data to re-classify the entire 150 or so million ounces of silver per our last report (there was 98 million in the 'inferred' and 33-55 million in 'potential') into the proven and probable category, ECU would/should be given an in-ground value of about $5USD/ounce of silver, which would equate to a net asset value of around $3.75/share CDN on a FDB.

We should keep in mind that up until October '06 ECU had only 1 drill at Santa Juana that was dedicated solely to drilling new holes in an effort to discover new resources as well as gather data to upgrade existing resources.

I have no firm date when the next update will be, but what I do know is that many people have no idea just how enormous our TOTAL resource numbers will eventually be. But for sure it is going to take more than the next update to get to the 'astounding total' category

I feel comfortable that 500 million ounces of total silver equivalent (eq.) will be the minimum before all is said and done. But the company will need another 1-2 years of MASSIVE drilling to prove that out.

TSXb--- There are about 100 reasons for the delay, and about 99 of them HAVE NOTHING to do with ECU! But if I had to guess I would say before the Annual General Shareholders Meeting, we should be listed on TSX

My thoughts on where we are going

a) This past week, all the senior management of the company were in Mexico for the entire week, including Dan Kappes to formulate the development plan for the company, as the 'Santa Juana' mine alone is becoming a much larger deposit that is bigger than ECU ever imagined.

Drills have been turning beneath level 18 for weeks now, and although I am not privy to the latest data, I suspect that we should be hearing some very good results in the near future.

b) It is ONLY a matter of 'when' and not 'if' ECU will start getting full Bay Street coverage;

c) With each brokerage/institutional visit, the ore body will be better understood and respected and thus proper valuation will have to be given;

d) San Mateo is showing all the blueprints of becoming a separate mine with excellent potential;

e) Technically speaking, ECU's share price has closed down 13 out of the past 14 weeks and is way OVERSOLD on the weekly charts on almost every indicator. The weekly chart carries MUCH MORE weight than the daily numbers and thus I see VERY LITTLE downside risk from current levels. The consolidation is now defined by a box formation which has confined the stock price for over 12 months. It appears that the precious metals are about to launch major break-outs as reported by several analysts. This is likely to be the impetus to drive ECU up to challenge the top of the box resistance at $3.35 and blast it through it.

In conclusion, as frustrating as this base building pattern might be for some of us, the next major move for ECU is UP, and given the low sentiment reading I have been feeling from many loyal shareholders lately, some of whom have already begun 'throwing in the towel, I am confident that ECU will be just as rewarding in 2007 for us as it was in 2006 in REAL TERMS for those who choose to stick around a little longer and continue to hold leveraged positions.

[rossi]

UC.V
I am surprised that more has not been made of the surprising anouncenment that the mill capacity could be increased to 600 tons per day. I have gone through all of the previous press releases and nowhere did it mention a mill capacity beond 200 tons per day. Indeed, the company introduced this significant improvement in a very matter-of-the-fact way in the press release. So what does this mean. Well, I have always taken the view that the 200ton operation would generate 5 cents free cash flow. If we are now talking 15 cents free cash flow, a multiple range of 10-30 x would be appropriate.If we take the lower conservative value, we are talking about a $1.50 stock. This does not include production from its other projects or factors-in all its significant blue-skys expoloration. Clearly, this information firmly places UC into a low risk/high potential stock moving forward.

Excellent new indeed!!!

[rossi]

UC.V

IMHO, the news was very good!

At 600 tonnes per day the company would be looking at $24 million gross revenue every year. Works out to close to 30 cents a share gross revenue.

La Dura and other projects could push this company to over 1,000 tpd.
Company is significantly undervalued. This discounts the value of Copalquin, which is one of the largest land packages in Mexico and kicked out 50 ounces/tonne silver and 1.4 ounces/tonne gold over 5 metres at La Soledad.

We are on the right course - Patience!

[rossi]

UC.V
1) The throughput is going to increase. This will have the effect of lowering the cost-per-tonne of production. That will improve the overall margins because it is more efficient to run more tonnage through the same equipment on a daily basis. It will also increase the total production numbers, revenues, and cash flow.

2) The efficiency of the operations is projected to improve due to the infrastructure investment in new equipment. We are currently at 70% which is excellent for a tailings processing operation, but with the improvements they have brought in we will probably see those numbers increase. Again, this will have the effect of increasing production, revenues and cash flow.

3) Management has demonstrated that they are able to deliver results and run the operating side of the business, which is critical considering the cash flow from this mill will keep the dilution to a minimum in the future, to raise the funding for exploration work.

A final point that is worth noting, I have heard that the company is doing some met work to establish a higher specific gravity for the tailings, and they expect to be able to prove up a resource of about 400,000 tonnes of tailings. Even running flat out at 600tpd, I would estimate they could process about 200,000 tonnes in a year. That means we potentially have 2 years of production just from this one property. And the grade of these tailings are higher than the 'ore' that some other juniors hope to mine.

cheers!

COACH247

[rossi]

GGC
If I did hear I wasn't paying attention. Current run up is based on the excitement of the potential and the addition of key players to the team and a volleying for position if a new issue shows up. My understanding is they have analyst right now crawling all over the property. ( Did you know it is a paved road 100 miles straight south of Mexico city. You can drive right into the property. Hows that for access. ) Analysts probably won't report until the 43101 mid summer so a proper assesment can be made. When they do report it should be very big. Are you aware their claim is the size of a whole district, maybe 130 miles long?(guessing) mining has been going on since the 1400's and if you walk the property you need to brush the silver off your pants after. There mining this low grade stuff on the surface and generating $500,000 a month. Imagine three 800tpd mines on high grade. The numbers would be staggering. Now take a 50million max share float(33 mil today) held 75% by institutions and money people. There going about this the way investors dream about. Whatever piece you take 2-3 yrs from now, I suggest, you can look back with great satisfaction and a fat bank book. JMO

[rossi]

GGC
SUBJECT: RE: single digit share price will look cheap Posted By: kensin
Post Time: 4/17/2007 11:05
« Previous Message Next Message »

They have 7 drills turning and another on the way. They have core samples by the skid and by July when they release the new 43-101 the siver world will be on it's ear. There will likely be 3 full scale mines in play making them top 5 producer worldwide. They have $500,000 cash flow per month now with 2.5mil in the bank. Don't be surprised to see two financings one at about $6.00 and another around $8.00 with warrants 50% higher to generated 50-70mil over three years to put these mills in place. This is a big unfolding play with big money behind it. There will be a lot of millionaires made from this property

[rossi]

GGC
Drilling in the San Rafael underground mine area has extended the known mineralization down dip an
additional 250 meters and confirmed the presence of ore grade mineralization in a 700 by 325 meter zone
immediately adjacent to present mine workings. Of the holes completed in this zone to date, 77% have
contained grades in excess of 100 g/t eAg. The weighted average of these intercepts is 393 g/t eAg over
1.3 meters. The following long section shows the location of these holes relative to the existing workings.
Ramp and haulage development is currently underway in order to access this ore in the coming year.
The intersection in GDH-7, 1.5 meters grading 5.82 g/t gold and 45 g/t silver at an elevation of
approximately 1650 meters is extremely important. It pushes the prospective mineral horizon throughout
La Guitarra and the San Rafael areas well below elevations tested in the past. The silver:gold ratio in this
intercept is indicative of the upper portions of an epithermal gold silver depositional system further
enhancing the already large exploration potential in the immediate La Guitarra mine complex area.

[rossi]

STP, CLL,UTS,POE, BCF are other junior oil sand plays and I recall one other whose symbol now eludes me ( it trades in the $11 range ).

All of the above except UTS are SAGD oil sand plays.

SAGD oil sand plays....as PFM is.....are preferred over mining oil sand plays ( eg the bitumen is mined by shovel and truck much as an open pit mine ) as they are cheaper to capilatize, provide cheaper operating costs are are less environmentally intrusive and destructive.

Both CLL and UTS have made substantial moves over the past 1.5 years and both now carry a substantial market cap , a large part of which is future growth potential.

Both CLL and UTS are good value plays but they will trade sideways for a while until their development catches up with their market cap.

POE is a good buy but it too has a substantial market cap.

That leaves STP and PFM, which have modest market caps and still have the legs to move forward at a rapid pace.

STP has exceptional recoverabe oil densities, which is one of the reasons why I am aboard.

That leaves PFM as an exclusive ground floor SAGD oil sands play.

As I said earlier, get aboard while it is cheap..
UTS is a mining play

[rossi]

In the fall of 2006, STP was trading in the $0.70 to $0.80 range.
At that time it had just announced its acquistion of 80 % of 7100 acres of oil sand leases and had raised $10 million thru a equity PP.

Subsequently, that net acreage increased to about 11,000 acres and its first resource estimate was announced in early 2007, subsequent to seismics and a 12 hole drilling program.

PFM is now where STP was in the fall of 2006, having announced that it is changing to an oil sands junior and has already acquired 14,700 acres.

In addition to having more oil sand acreage, PFM is also ahead of STP.... as it was in the fall of 2006... for several reasons.

PFM has raised $11 million recently, with only $3 million of that from equity...the remainder came form selling about half of its existing production.
PFM now has only 36 m shares fully diluted, whereas STP had 53 million fully diluted subsequent to its fall/06 equity raise.

More importantly, PFM still has existing production of 170 boe/day of the sweetest crude. At current prices, that is grossing about $ 5 million annualy and from which it should be able to squeeze about $2.5 million in cash flow..enough to pay operating expenses for a full year for several years into the future.

At 5 times cash flow, that existing production would give PFM a valutaion of about $0.35/share..exclusive of its oil sands holdings.

That is, instead of trading at about $0.75.....where STP was last fall...it should be trading above the $1 level.

Consiering also that PFM has 17 million shares less than what STP had last fall, one can can at least another $0.25 to $0.50 per share ( 17 m shares at $0.75 would raise about $13 million or about $0.35/share ).

That is, PFM could trade in the $1.25 to 1.50 range and still be more than comparable to where STP was in Nov/06 ( is has more acreage ).
STP has tripled from that level, implying that PFM could be over $4 by this time next spring..more if they add more acrage.

This is not to say that STP is fully valued.
Far from it.

It is a superb buy , with strong gains coming in the next few months.
Myown 1 year target is $7.50 for STP.

As for PFM, load up at these prices.
They wont last

Anyway, thats how I view PFM and where it is likley to go in the short term..

[rossi]

have reviewed the recoverable oil reserves from 5 junior oil sands stocks ( STP, CLL,UTS,POE, BCF ) and computed their recoverable reserves per acre of oil sand leases.

Although not always stated, oil recoveries are estimated by these companies assuming SAGD production method, with typical oil recoveries ranging from 25 to 35 %.

UTS had the highest recoverable oil per acre at about 30 million boe per acre.
STP had 22 million boe per acre and that estimate will likley rise when the new 43-101 is updated in June.
BCF had 10 million boe per acre.

CLL had 5 million boe per acre , while POE had 4 million boe per acre.

The overall average was 14 million boe per acre.

PFM has about 15,000 acres of oil sands leases, implying that its recoverable oil will likley fall in the 60 million boe..at the low end...to 450 million boe at the high end...and a best estimate of about 200 million barrels of recoverable oil.

Net present value, discounted 10 %, tends to fall in the $1/recoverable barrel to $3 / recoverable barrel range.

For early stage reserves, the Resource Investor in its review of STP, uses $1 per recoverable barrel of oil sands reserves.

In other words, the net present value of PFM's oil sands reserves, once committed to 43-101 standards , would likley be in the $60 million to $450 million range, with a best estimate of about $200 million.

As these oil sands reserves move towards production, their net present value will appreciate considerably ,as they would then be based on a long-term cash flow basis.

The RI has done some illustrative calculations for STP, as to how its share price would look, once production begins in 2010.

Those calculations show just how impressive the upside would be, once successful production is achieved....the article can be reviewed on the STP bullboard dated approx 2 weeks ago.

[rossi]

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Recently, Source Petroleum (SOPO) publicly confirmed its stature as an emerging international company with exceptional oil and gas assets in Canada, Indonesia and North Africa.

However, with the pullback in oil prices, the market has completely missed SOPO. It’s now flying off the radar.

Once SOPO is spotted, these shares could make fantastic gains for you if you get in now!
I love finding stocks like SOPO. Just add up their current oil and gas resources and you may quickly surmise that SOPO is a screaming bargain in today’s one dollar trading range.

This buying special situation won’t last long.
I see SOPO quickly rising to a mid-$4.00 trading range with many times that potential through next year. It doesn’t get more exciting than this!

Source Petroleum (SOPO) is a well-funded early-stage Canadian producer, in position for significant mid-year oil production and share price growth.

The company recently announced advanced progress for multi-well production from its Harmon Valley (Peace River) asset, one of Canada’s largest oil producing regions.

It also recently confirmed enormous acquisitions in Indonesia and North Africa as well as current annualized production targets that exceed 180,000 boe, just getting started.

The company also announced significant gas production figures from its Woking, Alberta asset, which is reported to be weeks from distribution tie-in.

Source Petroleum (SOPO) is already well funded with $7.55 million in the bank and has begun its drilling on known reserves.

In recently published documents, the company reports that its Harman Valley asset alone holds $6 per share oil in place reserves!

On top of all these company fundamentals, I believe the energy sector is working in your favor as well.

The timing could not be better!
We’re coming out of an oil slump, which has driven down energy shares.

Global oil politics have hit critical mass, a global oil war is imminent.

Premium stock prices are in store this year for companies producing in a “friendly” country like Canada.

Source Petroleum (SOPO) is at near-term production on some of the best new oil and gas producing regions in Canada and globally!

Remember, I said earlier, to get a shot at the kind of potential SOPO offers, you must get in early!

Early is right now! And the news you could see in the near term could quickly propel SOPO out of the $1 a share range.

Source Petroleum is currently drilling in one of the largest of all Canadian oil regions, hosting a stunning 9-billion barrels of oil!
If you want to make big money in energy shares, this is where you want to be today.

Keep in mind, this is NOT oil sands. Source Petroleum (SOPO) is targeting liquid oil that can begin flowing as soon as the wells are completed.

That’s why I’m so excited about SOPO. The company’s “cold flow” reserves flow out of the well without expensive extraction techniques.

It can pour into a barrel (or pipeline) and money can be made immediately.

That’s why I can forecast rapid growth in SOPO shares this year…starting right now!

SOPO: Surrounded by oil producing giants, yet overlooked on Wall Street!
As I see it, SOPO shares are grossly undervalued. And beyond the production potential, it’s also a market timing event that you should take advantage of today.

Three months ago, oil stocks got hammered. The XOI sector chart took a 20% hit on falling oil prices. Just about everything in oil dropped from December 11th, large caps and small.

Now is the time to get in on SOPO!
Since that time, big oil has rallied back, but smaller companies like Source Petroleum (SOPO) are just beginning their comeback. The Markets could soon be pouring into quality small-caps. With production and revenues forecast for mid-year, Source Petroleum (SOPO) ranks as one of the top prospects in a boom I’m predicting will get started this month.

The company’s recent news about its Harman Valley asset in Peace River verifies my assessment of a proven oil-producing region sitting on historically proven reserves.

The Harman Valley site could be producing cold flow oil and revenues this summer, earning as much as a $600 million working interest in the asset…

This is big news. Peace River is one of North America’s richest oil neighborhoods. Just a few clicks northeast, Shell oil is working a $2.4 billion asset. Also in the neighborhood is Batex, Pennwest and Black Rock. Big neighbors are a huge asset to SOPO shareholders.

There’s more! SOPO recently announced that its Woking Alberta asset is just weeks away from natural gas production.

In addition the potential for an oil-producing Harmon Valley (Peace River) asset, SOPO also holds a 37.5% interest in a known producing natural gas region in Woking Alberta.

The first gas well is already in pay zone and connection to distribution pipeline is projected to complete and begin producing by March 7, 2007.

Initial flow from this first site will be restricted to 500 thousand to one million cubic feet per day. Ultimately, engineers are targeting much higher output levels.

Production news releases sure to come this spring and summer could have a tremendous impact on SOPO share prices.
So, too, will America’s huge demand for energy.

With world oil prices rising…and hostilities rising with them…Canada will soon become America’s most vital energy ally!
Make no mistake, America MUST cut its ties to oil supplies from Venezuela, Iraq, Russia, Iran, even Saudi Arabia.

Recently, the highly respected “Investor’s Business Daily” published these prophetic words regarding Hugo Chavez’s dictatorial hold over Venezuelan oil:

“Chavez’s hostile anti-American dictatorship grows worse as his oil earnings pile up.” The U.S. daily buys “1.1 million barrels of Venezuelan crude each day.”

“The U.S. has been largely helpless, because it has few alternatives to buying Venezuelan crude.”

This is a situation that cannot be ignored.

These oil-rich countries hold enormous leverage over U.S. economy…and they’re using that advantage to wage war on the U.S. economy.

Our only weapons against a supply line is new production from North American reserves.

These developments will soon trigger an enormous shift of fortunes to Canadian oil producers.

The big gainers will be the small companies with significant near-term production potential. Expect skyrocketing valuations as companies like Source Petroleum (SOPO) soar from obscurity to front page news.

SOPO announces more oil and gas acquisitions
Source Petroleum recently announced intent to acquire 240 square mile in the McKenzie district of Northern Canada. This asset could add 1 billion barrels and 1 trillion cf of gas to SOPO assets. This is a stunning combination of balance sheet assets and in-ground resources.

On top of that, Source Petroleum locked in huge Indonesian reserves to its portfolio, a perfectly timed addition which coincides well with Australia’s growing crisis in declining oil production.

Research the facts yourself and you may quickly conclude…

SOPO is a MUST–BUY right Now!
Don’t expect this buying special situation to last long.

I believe Wall Street will be all over this soon…ending today’s bargain–buy almost overnight! Thankfully, I caught this early, so now is the time to get SOPO in your portfolio at an enormous discount to what could be its real value!

I hope you recognize the urgency of this. This is just a starting point that in my view can become a long-term bonanza. After all…

Oil and natural gas are in a secular bull market status that is turning up now after a temporary pullback.
Canadian oil producers are the largest, most promising source of new oil for America
SOPO properties are situated among the best of the best in oil and gas projects
Any shot at gains like these is worth serious consideration, especially when Source Petroleum (SOPO) is already well funded with $7.55 million in the bank and has begun its drilling on known reserves. Revenues should begin flowing as early as second quarter 2007.

I’m no stranger to finding stocks with triple-digit (100% or better) growth. My subscribers have made fortunes following my picks, posting growth like this:

1,955% on ETQ – 19 times your money
733% on Target Resources – almost 8 times your money
668% on MRB – 6.6 times your money
631% on SU – 6 times your money
580% on Ace Development – almost 6 times your money
402% on ANO – 4 times your money
332% on GLO – 3.3 times your money
I recommend you make your decision about Source Petroleum (OTCBB: SOPO) today. Just remember, should this stock take off like I think it will, you heard about it first from me!

Yours for Success,

John Myers,
Editor

P.S. For more information on OTCBB: SOPO - visit www.source-petroleum.com


What Others Are Saying About John Myers

FROM FINANCIAL/INVESTMENT PUBLISHERS:

FORBES MAGAZINE – “John Myers – still living in Calgary – is a poster boy for investing in natural resources. His father, C.V. Myers, was a geologist, publisher of Oil Week Magazine and a dedicated gold bug investor.”

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THE HULBERT FINANCIAL DIGEST – “(John Myers’) focus is on hard assets, particularly oil and precious metals. This is a natural focus for Myers, whose father was C. Vern Myers, one of the original and famous “gold bug” newsletter editors from the early 1980’s. John Myers makes much of the wisdom and insight he gained under his father’s tutelage.” Mark Hulbert, Publisher

FROM SUBSCRIBERS/TRADERS LIKE YOURSELF:

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[rossi]

In May of 2005, ERHC Energy was awarded substantial percentages in 5 potentially prolific oil blocks in the Gulf of Guinea waters, located off the coast of Nigeria near the islands of Sao Tome and Principe.

Block 2 ---awarded 65% interest (operator, partnered with Pioneer)
Block 3 ---awarded 25% interest (partnered with Pioneer)
Block 4 ---awarded 60% interest (operator, partnered with Addax)
Block 5 ---awarded 15% interest
Block 6 ---awarded 15% interest

The nine blocks auctioned off in JDZ rounds I and II* are estimated to contain between 8-14 billion barrels of oil, and blocks 1, 2, and 4 are believed to be the richest. Notice that ERHC together with its joint-venture partners hold majority interest in blocks 2 and 4, meaning that ERHC owns potential reserves of 2-4 billion barrels of oil if the seismic and 3-D mapping reports are accurate (Note: this does not take into account the enormous amounts of natural gas believed to be located in this region, nor does it factor in the rights to 2 more blocks that ERHC will take full ownership of when the future EEZ round is conducted)

*There will be several future rounds in the JDZ as JDZ round I and JDZ round II covered only a small percentage of the previously disputed boundary between Sao Tome and Nigeria.

Chevron and Exxon-Mobil both won rights to block 1 in the first bidding round conducted in April of 2003. Chevron is the operator, and it should be noted their $123 million was one of the largest signature bonuses ever paid for the rights to one oil block. Chevron expects to begin a drilling program in January of 2006.

In blocks 2 and 3, ERHC Energy has partnered with Pioneer Natural Resources, a well respected drilling company listed on the NYSE which trades under the symbol PXD. Currently, Pioneer’s market capitalization is an impressive 6.6 billion dollars.

In block 4, ERHC has partnered with Addax Petroleum. Addax petroleum has just recently announced that they will be providing ERHC with a ‘full carry’ till first oil (meaning ERHC doesn’t have to pay any expenses until production begins). In addition to this wonderful news, it has recently been announced that Addax will not only carry ERHC to first oil, but they will also pay ERHC 18 million dollars and grant them a larger percent interest in block 4 than previously anticipated (26.67% vs. 21.25%)!

It has also been announced just a few days ago that Addax will soon be conducting an IPO on the Toronto exchange. It is estimated that this initial public offering will raise over $350 million dollars for the company, making it the largest common stock IPO that has taken place in Canada in over a year. This is significant because it reveals Addax’s desire to raise large amounts of capital in order to finance their African operations*, and undoubtedly, it’s JV (joint-venture) with ERHC has something to do with it.

*Addax Petroleum currently produces between 70,000-80,000 barrels of oil per day in all their African operations combined.

Also, Pioneer Resources has already made it quite clear that they will begin selling their offshore assets in the Gulf of Mexico and southern Argentina in order to focus on their onshore North American and onshore/offshore African operations. Pioneer has made this decision because it believes these opportunities to be “better aligned with the Company's current exploration objectives” (view link).

The Gulf of Guinea is gradually gaining worldwide recognition as it is thought to contain several ‘elephant fields’ (oil fields in excess of 1 billion barrels). In addition to the multi-billion dollar companies of Chevron, Exxon-Mobil, and Pioneer Natural Resources, this area has attracted the attention of several Chinese and Indian oil giants who are all desperate to satiate their energy needs. In fact, there is currently a bid-war going on between Chrome Energy (ERHC’s parent company), Taiwan’s CPC, and India’s Essar over the ownership of Nigeria’s largest oil refinery.

But before drilling can begin in blocks 2-9, the signing of the PSC’s (Production Sharing Contracts) must take place. As it now stands, the PSC’s for the 5 blocks offered in round 2 are likely to be completed before Christmas, with the possible exception of block 4 due to a recent change in operatorship. If this date is met without further delay, I expect the share price of ERHC to increase dramatically in the coming weeks, similar to its precipitous price rise in April of 2004. Only this time the price will reflect the actual results of the bidding round, and not just expectations, which were not met the first time around.

Long term, I rate ERHC as a strong buy, with a potential 10-20 times price appreciation by the time of first oil well production (est. 2010). This price-projection is based upon comparative market valuations of other companies that command similar oil prospects.

Short term, I believe ERHC offers incredible upside volatility, of which it may be wise to capitalize upon

[rossi]

ERHE

No error in print lowman. Proven reserves are valued at $5 per barrel as evidenced by the sale price of the nearby AKPO field. If ERHE comes in with its share at 1B barrels, it will be worth $5B, or $7 per share. Once the fields are developed the value goes to $12 per barrel, or $17 per ERHE share.

The cost of producing oil at these depths is extremely high, so oil in the ground is valued no where near street prices. The above numbers are accurate.

You are missing nothing, $251M market cap is strictly forward looking potential, but that potential is mind boggling. Big finds in its STPEEZ blocks could very easily make this a $30 stock or more. It may take 10 years to get there (LOL) but it really has that kind of potential.

As I said earlier, Ledbetter is seeking revenue producing properties to bring immediate value to shareholders. I'm not expecting much there though, the company doesn't have the financial means to buy anything of significance.

[rossi]

hey have $8.9 billion worth of minerals in the ground.

With a market cap of $83 million, U.S. (With $25 million, U.S. cash in the bank!)

Dividing the resource value by the market cap, that's leverage of 100 to one.

But unlike most other highly leveraged stocks, the ore is very high grade rock, it's not like your typical $50/tonne low-grade, bulk-tonnage projects, like Novagold, Mines Management, Northern Dynasty or Northern Orion (no offence to those companies).

Instead, their rock is worth over $700 per tonne!

They need to raise about $80 million to finish the mine.

And they could pay back that capital in about 6 months of profits from the mine.

So, the stock has a forward-looking P/E ratio of about 0.5, less than one.

This year, the company is planning to spend $8 million U.S. on further exploration.

In 2007, after further exploration, they plan to complete a 43-101 resource, to upgrade the former historic resources I just shared with you.

They also plan to finalize a mine plan. And then, in late 2007, apply for a mining permit, for the first time. The company has already secured 5 permits, and has never been turned down for a permit. Many people have complained about permitting being a huge problem and issue for this company, but mining just takes a lot longer than people think.

After all, it was barely 3.5 years ago that this company had no cash, and was running on fumes, and when base metals prices were at all time lows.

See Lawrence Roulston's wonderful article, "Economic Theory Meets the Real World" from March 29th, discussing the big picture with regard to base metals prices and why this bull market will last a lot longer than many of the popular pundits think.
http://www.kitco.com/ind/resopp/mar292007.html

Here's some further details:

CANADIAN ZINC
Symbols at Yahoo! Finance: CZN.TO CZICF.PK
http://www.canadianzinc.com/
Toll Free: 1.866.688.2001

Share Structure:
107,590,212 shares outstanding
16,775,493 warrants and options
124.4 million shares fully diluted

@ $.78/share Cdn x .86 US/Cdn = $.67 US
$83 million Market Cap, USD, fully diluted

$29 million cash, Cdn, no debt. ($25 million, U.S.)

(About $80 million needed to finish mine construction & start mining)
($100 million worth of mining infrastructure already in place!)

CZN has a historic resource of 70 million ounces of silver. (IN ZONE 3 only!! of 12 zones! Their 18 year mine plan consists of zone 3 only, but there are 12 mineralized zones on the property.)

Silver Leverage:
$83 million Market Cap / 70 mil oz. = $1.18/oz.

70 milllion oz. x $13.50/oz. =
$945 million
/ $83 milion Market Cap = 11.

You get "approximately" 11 ounces in the ground for 1 oz. silver's worth of stock.

This was the mining operation set up by the Hunt brothers, the major silver investors in the silver spike to $50/oz. in 1980 who were bankrupted by their own debts and margin calls as a result of the COMEX rule changes and silver short sale manipulation. The Hunts spent $50 million building infrastructure to build the mine. They were 90% complete when bankruptcy hit. The value of those buildings is now perhaps over $100 million, and the mine only needs about $80 million, roughly, to get the mine up and running. That's much cheaper than other cost estimates of other operations.

CZN has very high grade ores!:
12.5% zinc/tonne x 2200 lbs/T = 275 lbs. zinc/T x $1.59/lb. zinc = $437/tonne for the zinc.

10.1% lead/tonne x 2200 lbs/T = 222 lbs. lead/T x $.89/lb. lead =
$198/tonne for the lead.

6 oz. silver/tonne x $13.50/oz. = $81/tonne for the silver.

0.4% copper/tonne x 2200 lbs/T = 9 lbs. copper/ton x $3.10 /lb. =
$27/tonne for the copper.

What's their rock worth?
Total: $742/tonne! (Assuming full recovery rates, which will be somewhere less than 100%, perhaps about 85%.)

Total resource base valuation:
With 12 million tonnes x $742/tonne, CZN has about $8.9 billion worth of "historic" resources. (Measured, indicated, and inferred, historic.)

Leverage: $8.9 billion / ($83 million Market Cap - $25 million cash on hand + $80 million Capex needed to build the mine) = 8,400 M / 133 M = 64.

That's leverage of 64 to 1. The value of the metals are worth 64 times more than the market cap and capital costs not yet raised less cash on hand.

With a mine life of 18 years, that's not bad.

(At our online spreadsheet, we discount a lot of the resources for CZN, since they are not truly 43-101 compliant, but are historical resources, so we count about 1/2 of them. Further, the spreadsheet gives a further penalty for a mine life longer than 10 years, since it takes time to realize all the profits of the resources.)

Expected annual production: 100 million lbs. of zinc & 4 million ounces of silver.

Expected cash costs: The scoping study is from 2001, which showed they could be profitable at $.50/lb. for zinc.

Expected profits: Assuming that silver production can be more than enough to pay for costs, at $1.50/lb for zinc, they can earn up to $150 million per year or more. (This is my rough, low estimated number.)

Forward projected P/E ratio, if they raise capital through share dilution at present stock price of $.80/share:
($83 million Market Cap - $25 million cash on hand + $80 million Capex needed to build the mine = $138 million) / $150 million = 0.92.

Forward P/E ratio: 0.92! Less than one!

(And the crowd cheered!)

Technical timing: The stock has repeatedly bottomed out at about $.50 to $.60 Cdn/share over the last few years. Peaking from $1.50-2.00/share.

People ask me, "Jason, why don't you tell us about these stocks at $.50/share?" Good question. Answer: Because I was the one furiously buying at $.50/share. In fact, I bought CZN up to $.80 just this week.

There was a recent financing from 4 months ago that has come free trading last week on March 23. Just under 7 million flow through shares were issued at $1.25. Thus, the stock price has likely just bottomed out. There is no further overhang of stock at the present time, all stock issued is free trading.

[rossi]

By David J. DesLauriers
03 Apr 2007 at 09:58 PM GMT-04:00


TORONTO (ResourceInvestor.com) -- Your correspondent has twice covered Gold-Ore Resources [TSXv:GOZ] in the past year, and each time the story has improved. GOZ closed today at C$1.02.

Despite a doubling in share price since the first and second commentaries each around the 50 cents mark, we continue to believe that Gold-Ore could deliver multi-bagger returns over the next 12 months as the company enters commercial production at its Bjorkdal mine in Sweden.




Part of the reason is that nobody is on to this compelling story yet - to our knowledge we are the only writer following Gold-Ore, and the institutions have yet to step in meaningfully.

We are of the opinion that this is about to change, and recent aggressive buying and volumes suggest to us that some institutions are now coming into the play. We would expect that brokers and other analysts will also start to catch on, as this is a very attractive story with multiple components.

A Cash Flow Story

In a press release “Bjorkdal Gold Mine-Internal Engineering Study” issued today, Gold-Ore gave guidance on where costs will come in for the underground mine envisioned at Bjorkdal which it is believed could achieve production of 75,000 ounces of gold per annum.

Assuming $675 gold, two main factors contribute to our cash flow analysis: grade and potential for share dilution (albeit minimal).

If grade surprises to the downside, and if one also assumes that GOZ will need to raise another $5 million before production, we would see, on a fully diluted cash flow basis, something in the neighborhood of 25 cents of cash flow per share.

If grade surprises on the upside (drill results indicate that the 5 g/t number GOZ is using is too conservative), and if the company can finance the $5 million CAPEX through the exercise of existing warrants at $1, the bulk of which are in very friendly hands, we see cash flow on an outstanding basis as being closer to 45 cents per share.

The reality probably lies somewhere in the middle, which given a standard junior gold production multiple of 10X cash flow would put GOZ at C$3.50 per share within 12 months.

A Growth Story

Plant capacity at Bjorkdal is in the 3,500 tonne per day range, or more than double that being utilized by the company under the current plan. Vein mining is not an easy business in terms of generating huge tonnage day in and day out, but given the geological patrimony of the area and the geological prowess of management, we believe that Gold-Ore can build enough tonnage to support more working faces.

Therefore there is a probability that say 18 months into production, or some time in 2009, Gold-Ore could decide to embark on an expanded development plan which could see production rise to the 120,000+ ounce per year level, financed totally out of cash flow, and resulting in the added boon of falling unit costs.

So there is a growth story here, which could in fact double the algebraically demonstrable 12-month potential share price of C$3.50, adumbrated above.

A Reserves Story

As reported in our GOZ story linked in the introduction and published in late August 2006, the size of the target that Gold-Ore is working on, and the potential of the system at depth has led the company to conclude that Bjorkdal has a 2 million - 4 million ounce potential.

Of course that takes time to develop, but if it can be successfully demonstrated, this play goes from a 10-year mine life to much more, and takes on new dimensions. Keep in mind that this a theory developed by a team whose collective resumé boasts the successful discovery of several multi-million ounce deposits, from the grassroots stage.

Conclusion

In the final analysis, Gold-Ore possesses all of the ingredients that one looks for in a near-term producer. In no particular order these include:

Infrastructure present and costs already known;
Almost no country risk;
Great management team;
Price will rise because this little known story still has yet to be discovered;
Miniscule CAPEX relative to similar plays means very little or no dilution between now and cash flow;
Existing infrastructure means very short time frame to production;
Levered to the rising gold price environment;
Cheap on a future cash flow multiple basis;
Ability to use cash flows to grow production beyond initial target rate;
Potential for multi-million ounce reserves at property.
For these reasons we see GOZ as a minimal downside, multi-bagger situation with a target price of C$3.50 per share within 12 months, and potentially double that within 18-36 months if either the growth story pans out, the reserves story pans out, or the price of gold goes for a run.

[rossi]

March 28, 2007

First Majestic Silver Looks To Top Up The Till


By Our Canadian Correspondent

Armed with a new 800 tonne per day mill and an updated resource on its flagship La Parrilla mine project in Mexico, Keith Neumeyer and his team at First Majestic Silver are on their way to completing a C$40 plus million financing.

View of La Parrilla mill operations at night
Sprott Securities and CIBC World Markets led a group of underwriters that agreed to purchase 8 million First Majestic units at a price of C$5 each. A unit holds one share and half a warrant with each full warrant exercisable at C$6.50 for 18 months. The well known resource underwriters get a 5.5 per cent commission and also have the option to purchase an additional 15 per cent of the offering at any time prior to the closing date, which is expected around April 12.

The timing of the offering is interesting because First Majestic recently tabled a measured and indicated resource of 15.08 million ounces of silver at a grade of 278 grams silver per tonne at La Parrilla. This, combined with the fact that the construction of the new mill, which began construction last May, is now complete, makes 2007 a pivotal year for the emerging silver miner.

The La Parrilla project is favourable located only four kms off the main highway some 75 kms southeast of Durango. The 3,400 hectare land package hosts several large vein systems, of which First Majestic is targeting the La Rosa/Los Rosarios, San Marcos, San José, San Nicolás, Vacas, Quebradilla, La Luz and Recuerdo structures with six rigs turning. Based on the results to date, one would expect to see the La Parrilla resource grow during the course of the year. In fact, First Majestic has already staked an additional 18,466 hectare block of land encircling the original land package, plus an adjacent land block comprising a further 31,347 hectares.

Almost as a side note, the company reported that it has purchased the San Juan silver mine, which lies 50 km from la Parrilla as is part of the land package previously known as part of the Chalchihuites property. Here drilling and development has been ongoing since early 2006. The 204 hectare property was picked up through a 2004 option agreement with the final payment of $650,000 handed over in January. At last report, five drill holes and the development of a 168 meter ramp and 76 meters of direct drifting have been completed on the property, plus 2000 tonnes of sulphide ore has been stockpiled for the purpose of mixing at the La Parrilla mill, which now has two different circuits; a 400 tonne per day cyanidation circuit and a 400 tonne per day flotation circuit. In a nut shell, La Parrilla is expected to produce around 1.8 million ounces of silver this year for First Majestic at a cost of around US$5.5 per ounce.

But First Majestic has a lot more on the go than just La Parrilla. At its La Encantada project in the prolific Sierra Madre Oriental of Mexico, where 945,000 ounces of silver were produced in 2006, output is expected to hit 1.2 million ounces in 2007 at costs of around US$4.25 per ounce and at its San Martin mine in Jalisco State, output for 2007 is anticipated to be around 2 million ounces of silver at costs of US$5 per ounce. All tallied, First Majestic could well reach 5 million ounces of silver output in 2007, propelling the upstart into the big leagues of silver miners with good exploration upside.

This brings me back to the financing front. First Majestic does have aggressive development plans in place for its existing projects with 7.6 kms of mine development and 5000 meters of diamond drilling slated for La Encantada in 2007, while some US$8 million in earmarked to upgrade the mill at San Martin, but still one has to wonder if Keith and his team have their eyes on yet another silver acquisition in Mexico. If the past is any indication of the future, I would not be surprised to see significant purchase once the C$40 million financing is closed.

Listen to First Majestic President and CEO, Keith Neumeyer on Commodity Watch Radio

[ghostchaser]

Geez, dey finally got around to talking about da udder asses of evil, Iran, today. With no support from neighboring nations, this one could be pretty tuff to fight. I guess you put carriers in the Med and Persian Gulf, and maybe Turkey will buckle under, and let ya move some chit through there. It's hard to do a beachhead without a beach. Maybe Saddam wants war in the streets, but just by the logistics what he well may get is saturation bombed into submission again. Then drop in the occupational force. Hope they televise this one. Busch the Elder's war with Saddam drew great ratings. But Cheney's probably worked out a deal with Don King, and it will be pay for view on HBO.

[rossi]

Unfortunately my predictions are usually wrong.That was pretty hard talk from prez Chenney yesterday.
I was wondering how a war might go.Sadam knows if he puts his assets out in the desert they are sitting ducks.I bet US forces could surround Bagdad,at a distance, virtually unopposed except for mines.Sadam wants to fight in the streets but the US would be silly to play that game.So they give Sadam the choice of fleeing or getting sealed inside Bagdad.He would probably stay in Bagdad so then it becomes a starvation seige.With a bit of propaganda the rest of the country becomes "free".
I am thinking of buying some oil stocks.Looking at RIG.Maybe I should just buy OIH the oilholders.

[ghostchaser]

I really hope you're right, but there's nothing the world
could do to stop it, if they got it in their globally warmed
hard heads that this was da ting to do. Saddam's no different
than the dozens of brutal dictators that the US has brought
to and keeps in power. Had he not overstepped his bounds a
bit and invaded Kuwait, he'd probably still have favored
nation status. And I doubt he has any capacity for weapons
of mass destruction. Israel took care of that threat long ago,
by blowing up the reactor. Hell, I wouldn't want one a dem
in my neighborhood either. With occupational forces in Iraq
and Afghanistan, look who's right in the middle. With Iran,
you do have mass destruction capabilities. And the whole game's
being played out above the world's oil supply. I think you
should conquer them, steal their oil, and force their people
to live on reservations. Sure worked with that peskey injun
problem ya use ta have. Then sell the oil to the europeans
for $45/barrel. Dats da American ingenuity I admire.

[rossi]

Ghost,dont give up the trading.I dont think you are ready for a poetic career.I dont think there is going to be a war with Iraq.I think it is all sabre rattling.Sadam is a survivor.He knows not to try anything silly at this stage.

[ghostchaser]

LRU? Mus be lepers-r-us cause no udder free boards seem ta
want us. Well, lez try and get off on da right foot here wit a
test:

Come on all you big strong men
Uncle George needs your help again
He's got himself in a terrible jam
With an evildoer they call Saddam
So put down your laptops
Pick up a gun
We're gonna have a whole lotta fun

And it's one...two....three
What are we fighting for?
Don't ask me I don't give a damn
It's time to nuke Saddam
And it's five...six...seven
Open up the Pearly Gates
When oil climbs to 55
Whoopee we're all gonna die

[rossi]

OK this thread is open for any financial discussion.

[rossi]

test