IAE.TO

For disclosure reasons, after three years I sold out of Ithaca this morning at 3.15. Today's news doesn't seem to tell us anything new: "It added that the discussions were at a preliminary stage and there was no certainty of an offer being made." This is where they were 5 weeks ago.

My portfolio is having a solid start to 2012 and after seeing last years solid start quickly reverse, I had to take some money off the table. Good luck to all still holding. I love the company.

Ryan K

AUN.V

I started my first position in almost a half of a year today in Aurcana. I've been on the sidelines for way to long and decided it was time to pull the trigger. As much as I hate the timing of the private placement, as long as Sprott doesn't decided to head for the hills, the stock price should start to climb from here. 2 weeks after last PP, stock price greatly appreciated. Aurcana has a wonderful mine in the United States, should get a premium for location. It's a great story and I only expect press to pick up. Looking forward to the next few months,

Ryan

Peeker,

Seabridge's strategy is to not build and operate mines. They explore, define the economics and then sell the property. There latest presentation gives a good overview of this process: http://www.seabridgegold.net/corp_pres.pdf

Earlier this year, Seabridge stated its desire to sell KSM for 2 billion dollars. I've long been skeptical of there ability to do so. A recent writeup on Gold stocks daily explains the reason why:

"Seabridge is practically asking for a major to buy them out but so far they have no takers. The key to making this project work is higher gold and copper prices and also assuming that they stay elevated for years and years to come. A major can’t go into this without that happening.

A lot of investors in Seabridge only see the amount of ounces in reserves and the current price of gold and think “wow, this company is massively undervalued”. What they don’t factor in is the cost to construct the mine, plus the buyout price for the project, plus the time it takes to construct it, plus the fact that if gold drops back to $1,100 an oz it would take over 10 years to recoup all the capital. That is why no buyers have emerged yet."

For the rest of the article, see http://goldstocksdaily.com/2011/05/07/seabridge-gold/

However, if you include Snowfield, the project becomes more economically feasible. I think Seabridge realizes this and knows the best way to sell KSM is to combine it with Snowfield.

Ryan K

Silver,

Read this news today. I'm glad to see this finally come together. Seabridge is really trying to sell KSM, and while it is a fantastic mine, economically it would be difficult and time consuming to be profitable. However, if you add Snowfield to that, you have a great possibility of a world class low grade mine. As they say, this would become the largest undeveloped gold resource in America.

What I think this news is about is the beginnings of a partnership that allows KSM and Snowfield to be sold together. Pretivm already stated that given the scale of this project, it would likely require support from a major. Seabridge wants KSM to be sold by the end of the year. Perhaps this enables that to happen. If so, I'd expect Pretivm to sell Snowfield for much greater than their market cap currently. This would give them more than enough resources to bring Brucejack into production, which is a project more within their range anyways. And honestly, I'm way more excited about Brucejack anyways.

Ryan K

FRC.TO

Just finished listening to the conference call. I feel that a lot of great questions were asked and the management was very forthcoming about future plans. I don't expect to see many large jumps in earnings per share going forward. Perhaps a small one in Q1 and then things should stabilize until Q4 when the next wave of equipment is included.

Here are a few notes I found important.

I do not think we should worry about overcapacity in the next few years. Canyon explained that the real problem is not equipment, but labor. Currently there is a labor shortage and the industry is having a hard time with the continued turnover of new employees. A year ago, they were able to hirer people with experience. Today that is not the case. This is starting to cause delays and is something that needs to be monitored going forward. Canyon believes they can find workforce for their next increase in capacity. May be difficult after that.

There is very tight supply in 2011 and they believe that will be true for 2012 already. Most of their crews are contracted for all of 2011. They are not accepting new customers at this time.

However, they do not believe prices will increase dramatically in 2011. They have witnessed some pushback in pricing, so further increases will be small. There is some increase in Q1 over Q4. Futher increases will likely be similar to inflation.

The company is exploring geographical expansion. The problem is pressure pumpers make twice as much in Canada as they do in the US. They are looking at some international basins that have longer lead times than the ones in the US. Also some in the northern parts of US might be attractive. They will avoid the hotter areas.

Tax rate should decrease going forward. Was 28% in 2010. Expect 26.5% in 2011 and 25% in 2012.

They do believe they will increase dividends this year, but they admitted they will be conservative. Don't expect massive dividend growth.

There is a lot more there. Hope this helps others.

Ryan K

FRC.TO

Earnings have been released on website: http://www.canyontech.ca/files/Press%20Releases/2010-Q4-Canyon%20Press%20Release.pdf

Great Quarter! We should see a nice jump tomorrow. Lot's of cash on hand. I woudn't be surprised to see further increases in HHP sometime later this year.

A few highlights:

"Net income was recorded at $24.6 million in Q4 2010, compared to a net loss of ($1.9) million in Q4 2009, while for the year ended December 31, 2010, net income improved to $54.4 million from a net loss of ($11.1) million in 2009."

That is .41 a share.

"Average consolidated revenue per job increased by 171% to $131,576 in Q4 2010, from $48,494 in Q4 2009. This growth is due to Canyon’s continuing success in expanding its market share in the deeper segments of the basin resulting in larger jobs. For the year ended December 31, 2010, average consolidated revenues per job increased by 105% to $98,785 from $48,279 in 2009."

"In Q4 2010, the increased utilization, the focus on completing larger, higher-priced jobs, improved pricing and the operating leverage available in a high fixed cost structure has resulted in EBITDA of $40.2 million, significantly higher than the $1.4 million recorded in Q4 2009."

"During the quarter Canyon’s equipment fleet averaged 96,000 HHP and was fully utilized, resulting in 651 jobs completed compared to 291 in the prior year’s quarter."

This should be significantly higher in Q1 as well.

Ryan K

Cl,

Thanks for asking about the relationship with the first nations. I'm sure it is not a problem. Always slightly concerned about mining in the Tahltan regions though.

Prior to Novagold's project, the Tahltans blocked a number of mining projects and the courts had to mediate. Wasn't a good thing for anyone. But it seems that Novagold really opened the way for mining once again in these regions. Since then, as far as I can tell, Tahltan has been more open to working with groups and the protests have stopped. However they are still extremely active in most projects.

They are just starting their review of the KSM project. The Tahltan Central Council usually updates their relationships with the mining industries sometime in March. I'll keep my eyes open for any new news pertaining to the KSM project. Either way, relationships with Tahltan is very important for Pretivm going forward.

Ryan K

FYI, I started a half position in Majescor Resources this morning. I very rarely invest in stocks with this high of risk, but I'm having a good year so far and the reward seemed astronomical. I'll be trying to catch up on the posts this weekend, but does anyone have an idea when drill results are due for the 2009 drill campaign at the Somine property?

Ryan K

Cl,

If you get a chance, can you ask how the meeting with the leaders of the First Nations went in January? I have some contacts at some SRI investment funds, and this would be important information for me to pass onto them.

Ryan

PVG.TO

Cl,

About a month ago, you mentioned a conference call with Pretivm's CEO, Bob Quartermain. I was wondering if this was still in the works. Would love to talk to him about the resource update and 2010's drilling results now that they are published.

Also good to see the stock continue to rise. Up a dollar today. I haven't seen any reason for the rise, but I'm hoping that some analysts will start promoting the stock.

Ryan K

Wonderful article on China, water scarcity, and energy demand can be found here. The link is too long to post. As Bobwins has mentioned multiple times before, water and food will soon become the reason for conflict all over the world...

http://www.circleofblue.org/waternews/2011/world/choke-point-china—confronting-water-scarcity-and-energy-demand-in-the-world’s-largest-country/

A few quotes for those who do not want to read the entire article:

"The problem, say government officials, is that there is not enough water to mine, process, and consume those reserves, and still develop the modern cities and manufacturing centers that China envisions for the region.

“Water shortage is the most important challenge to China right now, the biggest problem for future growth,” said Wang Yahua, deputy director of the Center for China Study at Tsinghua University in Beijing. “It’s a puzzle that the country has to solve.”

"Though China’s economy has grown almost ten-fold since the mid-1990s, water consumption has increased 15 percent, or 1 percent annually. China’s major cities, including Beijing, are retrofitting their sewage treatment systems to recycle wastewater for use in washing clothes, flushing toilets, and other grey-water applications."

"Though national conservation policies have helped to limit increases, water consumption nevertheless has climbed to a record 591 billion cubic meters annually, which is 42 billion cubic meters (11 trillion gallons) more than in 2000. Over the next decade, according to government projections, China’s water consumption, driven in large part by increasing coal-fired power production, will reach 620 billion to 630 billion cubic meters annually—40 billion cubic meters a year more than today.

China’s total water resource, according to the National Bureau of Statistics, has dropped 13 percent since the start of the century. In other words China’s water supply is 350 billion cubic meters (93 trillion gallons) less than it was at the start of the century. That’s as much water lost to China each year as flows through the mouth of the Mississippi River in nine months. Chinese climatologists and hydrologists attribute much of the drop to climate change, which is disrupting patterns of rain and snowfall."

Coinmaker,

Concerning PVG.TO

How I best view Pretivm is a 2 mine company. You seem to have done a lot of research on their Snowfield project. Snowfield is the low grade mine that will take a ton of money to put into production. The mine is supposedly similar if not better than Seabridge's KSM property which is worth 1.2 billion currently. However Seabridge is trying to sell it by the end of the year for nearly 2 billion. I'm skeptical Seabridge will get that much for it due to economic reasons, but someone could buy Snowfield at the same time. This makes a lot of sense and would bring more interest to the gold community. I think Pretivm will ultimately sell Snowfield for much more than their current marketcap. They just need to produce drilling results from 2010 first and continue to drill and advance the property to show everyone that the Snowfield is equal to KSM.

The reason the CEO came out of retirement is for the high grade Brucejack property. This is where things get really exciting. Brucejack has the chance to be the premier high grade mine in the world. In a much smaller drilling compaign the company hit multiple targerts at 5,000 g/t and one hit of 17,000 g/t. We will see 33,000 meter drill results in the upcoming months on Brucejack. This will show us more of the story then. Brucejack will have a smaller footprint, lower capital cost, and quicker to market. As Robert has said: This is the catalyst for the company going forward.

Also, we are looking at between 60-70,000 meters drilling this year. The company has enough money for the next two years. Unless prices run up greatly, I doubt we will see the company raise money anytime soon. Hope that helps,

Ryan K

PVG.TO

Cl, I am confused by this statement you made: "SA is selling its flagship deposit next door, should provide another big catalyst. They could merge with SA to sell the assets together, but the market cap has to go higher first."

Are you implying that Pretivm might sell both Snowfield and Brucejack, or simply Snowfield when KSM sells their Seabridge deposit nextdoor, sometime later this year? Please correct me, but I thought Brucejack project seems to be the one they will be focuseing on. The high hits of gold are what brought their CEO out of retirement. I very seriously doubt they sell Brucejack. This will be the main focus of drilling and this is their future.

Now I'm all for selling Snowfield when Seabridge is sold. That makes sense to me since they are going to need cash for Brucejack and Snowfield is such a large project that they would at least need a major partner. I think they advance it going forward and then bring someone else in to create this project. Perhaps that is what you meant. Just asking for a bit of clarification.

Thanks!

Ryan K

PVG.TO

Wonderful CL. Looking forward to the CC. I'm interested in hearing how Robert's meeting with the leaders of the First Nations went last month as well as any further guidance on if the 3 resource updates will come out in Q1 or Q2. Lots of catalysts coming up in the next few months. Today should be just the beginning of an exciting ride.

Ryan K

Bobwins,

Perhaps it was the stockarena. I did a lot of posting and work with them before I went to graduate school. That was where I really started focusing in on commodity stocks.

The stockarea is pretty much dead. I didn't do much investing while in school, so I don't know when things ended. Anyway, it's only been awhile since I have gotten back in the swing of things investing. Good to see a great community of people still working together due to the wonders of the internet.

Ryan K

AAA.V

I closed my position in Allana this afternoon. Love the sector and stock, but the run up in recent months is to steep for me not to take the profits. The RSI is near 80 so it seems as good of time as any. Thanks everyone who has helped do great DD on this little gem. Would be interested in reentring if a great opportunity arises.

Ryan K

FRC.TO

Wonderful news out tonight by Canyon Services Group. They just announced that they are further increasing their hydraulic horsepower ("HHP"), now by 50,000 HHP instead of 25,000 HHP in 2011. Not bad after increasing their Hydraulic Pumping Capacity from 25,000 HHP to 125,000 last year. I thought they might have to do a small private placement to further increase capacity. Great news that they can fund it from cash flow. Should see some explosive growth in earnings in the upcoming quarters!

Ryan K

CANYON SERVICES GROUP INC. INCREASES 2011 CAPITAL EXPENDITURE PROGRAM TO $68 MILLION

1/10/2011 7:58:00 PM

Canyon Services Group Inc. (TSX : FRC) is pleased to announce an increase of $13 million to its 2011 capital expenditure program resulting in a total capital budget for the year of approximately $68 million. The additional capital will add 25,000 hydraulic horsepower ("HHP") to Canyon's pressure pumping fleet, expanding Canyon's total hydraulic pumping fleet capacity to 175,000 HHP.

The revised 2011 capital program of approximately $68 million now consists of 50,000 HHP, associated blenders, sand handling transportation and storage equipment, two deep coil tubing units and miscellaneous other support equipment and facilities. All pumping and associated equipment pursuant to the revised capital program is expected to be delivered in Q3 and Q4 of 2011.

Canyon continues to focus its operations in the Western Canadian Sedimentary Basin where the equipment from the 2011 capital program is expected to be deployed.

Canyon is in a very strong financial position and anticipates funding the capital expansion program from existing cash and cash flow from operations.

AAA.V

Do not know if anyone else is still holding Allana but wonderful drill results announced this afternoon. Looks like more results will be released in the upcoming weeks.

Ryan K

Allana Potash Intersects Highest Grade Potash Mineralization to Date

ORONTO, ONTARIO- Allana Potash Corp. is pleased to announce that drill hole DK-10-07, located in the northern section of Allana's property, intersected two significant zones of potash mineralization including the highest grade intersection to date. Hole DK-10-07 intersected 37.8% KCl over 2 metres, and 22.0% KCl over 6.7 metres in two distinct intersections at shallow depths beginning at 136 metres. The upper interval occurs within a thick potash sequence that returned 23.4% KCl over 9.2 metres.

Farhad Abasov, President and CEO, commented: "Allana is very pleased to have identified high grade zones of potash mineralization at very shallow depths and to have extended the Musley deposit an additional 700m to the east. Hole DK-10-07 is situated close to the newly acquired Haro concession and we believe that these positive results indicate significant potential for the Musley Deposit to extend to the Haro concession."

Hole DK-10-07 was collared in the northeastern portion of the Allana property approximately 700 metres southeast of drill hole DK-10-03 (see attached figure) near the newly acquired Haro concession. Hole 07 was drilled vertically and may represent a further extension of the Musley Deposit east onto the Haro concession. True widths of the potash zones are estimated to be very similar to drilled widths due to the flat-lying nature of the potash horizons. The zones of potash mineralization are outlined in the following table:

-------------------------------------------------------------
FROM (m) TO (m) WIDTH (m)(i) KCL (%)
-------------------------------------------------------------

-------------------------------------------------------------
136.0 145.2 9.2 23.42
-------------------------------------------------------------
Incl. 142.0 144.0 2.0 37.75
-------------------------------------------------------------

-------------------------------------------------------------
214.1 220.8 6.7 22.04
-------------------------------------------------------------
(i)Drilled width

Geological logging of the hole suggests that the upper intersection correlates with the Sylvinite Zone as defined by Parsons at the historic Musley Deposit. Similarly, the lowest intersection, 6.7 m at 22.04% KCl, is dominated by kainite and appears to correspond to the Kainitite Zone in the Parsons stratigraphy. XRD work is in progress at Saskatchewan Research Council to better define the potash mineralogy.

In addition to Hole DK-10-07, holes DK-10-08, 09, and 10 (see figure) were completed prior to the Christmas break and are in the laboratory undergoing analysis. Results should be available in the next few weeks. Down-hole seismic work and down-hole geophysical surveys were also completed prior to the Christmas break and this data are currently being compiled.

Exploration drilling will resume next week and continue on the Haro concession to define further extensions of the Musley Deposit, and in the south, west of drill hole DK-10-06. Allana will continue to drill in the vicinity of DK-10-06 to investigate the extent of promising potash mineralization intersected in this hole with one drill rig while the second rig finishes additional 1-2 holes on the Haro concession. Road building is scheduled to start in the next month to access drill targets on the far eastern portion of the Allana property where preliminary seismic work suggests the stratigraphy dips back toward the surface.

In addition, the Company announces that it has granted a total of 2,110,000 stock options pursuant to the Stock Option Plan of the Company to various officers, directors and consultants of the Company. The options will be exercisable for $0.69 per option and shall expire on January 10, 2016. Such options shall vest immediately subject to the applicable regulatory hold period. The grant of options remains subject to receipt of all required regulatory approvals.

FRC.TO, CYSVF

Canyon Service Group is sure trading weirdly this morning. It was down 29% at the open and I haven't been able to find any news. Looks like it is making a recovery, perhaps it was someone who just sold and didn't care what the cost would be. I have no idea. But after that trade it didn't seem to trade for almost 20 minutes. Very strange, has anyone heard anything?

Ryan K

TMB.TO

Great article on dissolving pulp and why I believe Tembec is still a great buy even with the latest runup. I believe we will see 6.00 a share in the first half of 2011. As the article states, Tembec anticipates a $200 per ton price increase starting this month! Enjoy,

Ryan K

The Touch, the Feel—Of Rayon?

Rising cotton prices are pushing a forgotten retro staple back onto the fashion runway: Rayon.

Cotton prices surged 91% in 2010, leaving designers and clothes makers scrambling to find lower-cost alternatives. One of their favorite replacements is rayon, an 80-year-old fabric whose last golden age was in the 1980s, when it was used in everything from Hawaiian shirts to sequined vests.

The largest ingredient in rayon, a base substance known as dissolving wood pulp, is now in huge demand, boosting stocks of companies which historically followed new home starts and newsprint costs.

The result of the rayon renaissance has been huge gains for Fortress Paper, Tembec Inc. and Rayonier Inc. Fortress stock more than doubled over the past six months to 44 Canadian dollars ($44.17), Tembec spiked 140% to C$4.36, while Rayonier jumped 22% over the same period to $55.50.

Global production of dissolving pulp, which is also used in filters, screen films and diapers, grew by roughly 25% to 5.2 million tons since 2008, according to Tembec.

Brokerage analysts say they see more gains ahead for the companies, putting price targets between C$50 to C$65 for Fortress; C$4.25 to C$5.35 for Tembec; and $56 to $60 for Rayonier.

"In general, we try to find alternatives to cotton whenever possible," said Sera Coblentz, who develops clothes for New York's Meryl Diamond Ltd. "Everyone had it in their lines for the last season."

Tembec, which produces the wood pulp used in Rayon, is one of several companies that has seen huge gains in stock prices in the last six months.

Clothing manufacturers including Max Azria and Isaac Mizrahi have begun adding rayon into everything from dresses to harem pants. While the cost of the most common rayon fabric has risen of late, it is still relatively cheap at $2.35 per yard compared to $4 per yard for cotton shirting, Ms. Coblentz said.

The knock-on effect on clothing manufacturers only became pronounced in recent months, when rayon prices spiked, too. Sonya Yi, production manager for Los Angeles private label Chris & Carol Apparel, said she now buys rayon at $2.70 per pound, compared to a low of $1.60 last year.

The end result for consumers: Prices for clothes are creeping up, even when lower-cost fabrics are substituted.

"At first we started to eat the increase because we're always controlled by the retail price of the item," said Ira Spiegel, of New York's Dollhouse Apparel, which makes clothes for teenage girls. "Now we're trying to pass half of that to the retailer.

The prices show no sign of retreating, thanks to strong demand from Asia, where an emerging middle class favors the fabric, said Rayonier CEO Lee Thomas. The synthetic "has better drying capability than pure cotton, and its feel is better than polyester," that increases its appeal in hotter climates, he said.

For the first time in recent memory, demand for dissolving pulp has outstripped supply, and buyers are struggling to get orders filled, said Peter Vinall, CEO of Fortress's specialty division. That reflects a corresponding move in the price of dissolving pulp to approximately $2,350 per ton from $1,550 per ton 12 months ago, Mr. Vinall said

Fortress is spending over $120 million to refurbish a pulp mill that it says will produce 200,000 tons of dissolving pulp annually. Chinese buyers have already lined up for 156,000 tons of the production.

Tembec manufactures about 300,000 tons of the pulp annually and anticipates a $200 per ton price increase starting this month, said CEO James Lopez during a November conference call. The Quebec pulp and paper manufacturer is emerging from 10 years of cost cutting and debt restructuring that position it well to capitalize, said Stefan Lingmerth, an analyst at Phoenix Investment Advisers, which owns Tembec stock.

Rayon has been a welcome windfall for Tembec. The company restructured $1.2 billion in bonds in 2008, and cut debt by 200 million last year. Mr. Lingmerth said the company stock currently trades at approximately 3.5 times forecasted earnings before interest taxes depreciation and amortization of $180 million against a sector average of five times.

Rayonier produces only a special variety of dissolving pulp, which is not used in rayon but in cigarette filters, flat-screen television screens and paint thickeners. The timber REIT still benefits from the rayon frenzy, though, because its rivals are moving out of its market to sell to fabric producers, Mr. Thomas said.

Write to Matt Wirz at matthieu.wirz@wsj.com

MMT.V

Large swings in the stock price are nothing new for Mart Resources. It happened in the beginning of November when the stock went from .57 to .44 cents for no known reason and it happened in the beginning of December when it went from .72 all the way down to .54 cents. Each time the stock quickly rebounded and went on to new highs. I see no reason to believe this trend will not happen again. I am not worried in the least bit.

In fact, I bit the bullet and doubled my position this morning in Mart; it is now my largest position. These will most likely be trading shares, but I'm extremely comfortable holding them long term. I believe Mart will be a multibagger in 2011.

Ryan K

AXU

Alexco Achieves Commercial Production at Bellekeno!

Alexco Resource Corp. (TSX:AXR)(AMEX:AXU) is pleased to announce that it has declared commercial production to have been achieved as of January 1, 2011 at its 100% owned Bellekeno silver-lead-zinc mine and mill complex in the Keno Hill Silver District, Yukon Territory. Commissioning of the Bellekeno conventional flotation plant and underground mine, initiated in late September 2010, was completed at the end of December with both the mine and mill operating at initial design throughput of 250 tonnes per day of ore for 30 days. This activity has also satisfied the Initial Completion test under the Company's silver purchase agreement with Silver Wheaton Corp. (NYSE:SLW - News)(TSX:SLW - News). For financial reporting purposes, this declaration of commercial production establishes January 2011 as the first full month of commercial production.

Commissioning activity at the Bellekeno complex began in late September 2010 with confirmation of electrical and mechanical integrity of all plant equipment, and proceeded through scheduled processing of low grade material at low throughput rates in late October, and finally scale-up to initial design capacity and processing of ore by mid November. During the commissioning and ramp-up period of October through December, the mine produced approximately 15,700 tonnes of ore and the mill processed over 9,000 tonnes of ore and started shipping commercial specification concentrate for smelting and refining in early December. Average production grade of ore extracted during this October through December period, including low grade material specifically mined for plant commissioning purposes, was 1,068 grams per tonne silver, 12.6% lead and 6.6% zinc.

Optimization and debottlenecking activities continue at Bellekeno, as the mine and mill ramp up to fully-optimized levels of production. Primary focus areas of these activities include further optimization of pumping and piping efficiency between the flotation circuit and the dewatering (filtration) circuit, and continued improvement of operating efficiencies in the dewatering circuit.

"Reaching commercial production at Bellekeno is the final milestone in Alexco's transition to a fully accredited Canadian mining company, and a critical achievement in the growth and evolution of our business", said Clynton Nauman, Alexco's President & CEO. "We are looking forward to further success and growth of our Keno Hill operations in 2011, and especially working with our stakeholders to re-establish Keno Hill as one of the preeminent silver producing districts in the world."

Keno Hill Silver District History

Between 1921 and 1988, the Keno Hill Silver District produced more than 217 million ounces of silver with average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government's Minfile database). The historical production grades would rank Keno Hill in the top 3% by grade of today's global silver producers. The Keno Hill district is the second-largest historical silver producer in Canada.

EPC.V

Bobwins,

I took a starter position in Empire Mining this morning. So far, I really like what I see from a risk/reward scenario. I have no qualms at all about how they raised money from Anglo Pacific. It was initiated over 6 months ago when things were much different for the company and if my research was right, Empire needs an approximated 6 million dollars over the first year of the project. This deal should be enough to push ahead and get this project moving. Costs should significantly decrease when they get the new road in place in late 2011/ early 2012 as well. That's something I'll be keeping an eye out for.

I'm also excited about chromite going forward. Imports in China hit a new high in November and chromite prices look to be headed higher in the short and long term.

Have you heard by chance how they anticipate raising the rest of the money? Another deal or private placement? I anticipate a large PP and that is why I didn't initiate a full position in EPC yet. Hopefully prices will rise and they can minimize the PP and keep their share structure down. I really appreciate that the stock has less than 45 million shares outstanding.

Ryan K

SSN

Thanks Bobwins for continuing to update us on Samson. Today I started a sizeable position in this company as I begin looking to plays for 2011. Recently reviewed their November presentation, Samson Oil should have solid news flow starting in Q1 and I agree with you, this looks set for a January bounce. Sellers look to be gone; let's hope Samson starts us off right in 2011!

Ryan K

FRC.TO

Bobwins,

I would think their earnings in 2011 will be even slightly higher. I don't know if you saw this paragraph but it looks like they will continue to increase HHP. I also would not be surprised if they raise money to further increase pumping capacity.

"Canyon is pleased to announce a capital expenditure program of approximately $55 million for 2011 as the Company continues its strategy of expanding its operations across the Western Canadian Sedimentary Basin. The capital will be allocated among approximately 25,000 HHP, blenders, associated sand handling and storage equipment, two deep coil tubing units and miscellaneous other support equipment and facilities. Following completion of [t][/t]this program in the second half of 2011, the pumping capacity of the Company's fracturing equipment fleet will grow to in excess of 150,000 HHP."

Very impressive quarter. Hope to see a nice jump in the stock price tomorrow!

Ryan K

AUMN

I thought since you discovered it so early, you'd be the largest shareholder. :). One of these days, right?

Ryan K

AUMN

Rtenn,

I'm a slightly disappointed in the report, but really not concerned at all. My disappointment is not based on the financial numbers - everything looks good there, but on the drill results. The results from the Matehaupil and La Pinta projects were very underwhelming. Their Matehaupil is a joint venture with Almaden Minerals. I'm not overly concerned about that one. But I was hoping for some solid results from La Pinta. However as you can see very little to be optimistic about:

"Assay results have been received from the first seven holes out of a planned ten hole rotary drill program at the La Pinta project, directly south of Goldcorp's Peñasquito land position. At La Pinta the Company is selectively drilling rotary holes in an effort to identify the source of intrusive float found at the surface with anomalous base and precious metal values. Results from the first seven holes were uniformly low in gold and base metal values, and the source of the intrusive float has yet to be determined."

However, of their mines, La Pinta and Matehaupil are the least of my concerns. I really hope now they give up on La Pinta and focus their energies solely on El Quevar and if they want to do some more exploration, Zacatecas. I have a good feeling that the Zacatecas will be another productive mine for them someday. But in all seriousness, El Quevar is what will drive the stock price. I'm happy to see they are pushing back the completion of the feasibility study. They need to drill more and see what they have. Bring on that fourth drill!

Cl knows their properties much better than I do. He can hopefully share his thoughts on La Pinta and Matehaupil. My hope is that they just move on and focus on the beast that they have. If these drilling results do that, then I'm happy.

Ryan

AUMN,

What a day for this little gem. I wanted to second CL's opinion on this one; today's run is just the beginning. I just read through the report and I must say that Adam Graf seems a little optimistic about the dates for production for all these mines. I'm not sure about possible dates for all their other projects, but I'll be pleasantly surprised if production at El Quevar begins in late 2011. Middle of 2012 seems like a much safer estimate and that's what I'm projecting.

However, I want to point everyone to two pages of their report, page 20 and page 23. On page 20 you see the extreme sensitivity the price of silver makes to the expected share price of Golden Minerals. If silver is at 25 dollars, and gold is 1300 they estimate the shares to be worth 120.00, at 30 dollar silver, they estimate the shares to be work 156.00. So every dollar move in silver is an increase of just over 7 dollars a share in their opinion. That's astounding. 100 dollar swings in gold only alter the price by 2.25 dollars a share.

Secondly, as you mention, CL, the low float is the key. I knew shares outstanding were just over 9 million and I knew there were some large stakeholders, but according to their report 91% of the float is accounted for by insiders and institutional owners. That means less than 900,000 shares are out there for individual investors. So we could see continued drastic increases of price with low shares traded.

Ryan K

Stock_Peeker,

September through December, historically has been the best time for gold and silver stocks. You are right about September's great month; it has been the best month of the year by a large margin. Gold averages over a 2.5% gain in September. Not sure the numbers on silver. Only 3 other months average above a one percent gain. October usually is down, but only marginally. I wouldn't be surprised to see this trend continue, and we get a sharp pullback sometime near the beginning of the month, before we see the next leg up. Funds are buying gold right now to end their quarter. I think that is what has kept this gold rush going this week.

But here is the good news: November, December, and January are historically very good months for gold. Historically November earns .96%, December earns 1.53%, and January earns 1.56%. The reason why November - January are so good is quoting Frank Holmes,

"After Ramadan comes India's post-monsoon wedding season, and in November there's Diwali, one of India's most important festivals. During the fall, jewelry makers in the U.S. and Europe stock up in advance of the Christmas shopping season. And in China, there are two big gold opportunities: the week-long National Day celebration starting October 1, and the Chinese New Year in early 2011."

I'm debating trimming a position or two today, and looking to buy back in a few weeks. But I'm hoping for another big push in gold/silver by the end of the year.

Ryan K

Thanks Stock_peeker. I appreciate the update and can't wait to listen to the CC.

I'm really hoping this is the beginning of Gold Resource being more forthcoming with their shareholders. I love the management; I love the stock. My only major problem with the company is their lack of giving forth information. Perhaps these changes are the first steps to rectifying that problem.

Ryan K

Any updates on when we will finally get some drilling results? We are long overdue, and that worries me.

Undercooked,

I am unable to listen to the conference call due to work. After it is over, would you or someone else please share some of the new relevant information that was shared?

Hope the CC is going well!

Ryan K

GORO

Dcrain, you are partially correct. Hochschild no longer has the first right of refusal. Gold Resource Corp can look elsewhere for its PP from here on out. That being said, Hochschild has a clause in their original agreement than is anti-delutive. That means since they owned 30% of the shares prior to the dilution, they had the right to purchase the necessary shares in the PP to keep their 30% holding. For whatever reason, they declined to pay for what would have been around 1 million shares in the PP. I believe this is what Monty is referring to.

Hope that clarifies!

Ryan K

MTO.V

Yes, the grade is certainly disappointing. I'm confused at why the reported so many ounces at this grade. I mean yes, we have an incredible jump in ounces. Their previous presentation 52,300 indicated at 4.23 g/t and 126,000 inferred at 4.07

Today they report 309,500 oz Au of Indicated Resources at 1.25 g/t Au
and 471,950 oz Au of Inferred Resources at 1.41 g/t Au

That's 6X the indicated and 4X the inferred...

I'm just puzzled at why Gold Resources above 0.5 g/t for the Barry deposit were re-evaluated by SGS Canada Inc. That's way too low of a number. I'll be interested to see the report and gather how many ounces are above 2 g/t. That will be the most useful information...

But yeah, disappointed by the presentation of the report. I guess I can still hang some hope on the fact that in the interview on Jay Taylor's show, they stated they should be able to double these numbers. To me it all simply depends on how many ounces are above 2 g/t. Unfortunately, we won't get that information for awhile...

Ryan K

AAA.V - They say bad news comes in threes right?

Well the market doesn't seem to like the news today for two of my largest holdings: GORO and MTO.V... Let's hope Allana has a much better fate. If not, happy hour might start early!

Ryan K

Monty,

GORO - I agree with you. As much as I hate dilution, Goro has done dilution the way all gold stocks should - minimally. We are talking about 3.5 million shares here. That keeps the number of shares around 53 million. If this allows Goro to drill more, then I'm happy. I've been wanting them to explore the 99% of the property that is left to drill. There is so much that is exciting about their property; let's see what is in some of the feeder veins! Drill, baby, drill!

Just as a heads up, in the 8-k they have a new presentation included. I'm guessing this is the presentation that they will be giving today the Denver gold show. It is not up on their website yet. But the presentation is underwhelming in my opinion. The only news is what we all expected; they have stockpiled more than 90% of the ore from the open pit. They do say there is potential for more ore based on feeder vein. I would have guessed they would have reached the vein when they extracted the ore...

Other than that, nothing in the presentation has been updated. No drilling results or hints at expansion. Maybe they were not sure that they were going to have the financing done in time for the Denver show, but the presentation still shows 200,000 ounces of gold per year as the target. I really hope they can expand the mill by 50%. Hopefully now that we are on a real exchange, management will be more forthcoming with PR's and CC's. We shall see.

Ryan K

AUMN,

I'm not CL, but personally AUMN is a hold and mold position for me. El Quevar is a company maker; its one of the most exciting new silver mines I have researched. I'm very thankful CL brought this company to our attention.

Based on the drilling results and remarks by the company, I see them averaging at least 400 g/t Ag at El Quivar (and I've heard management before state they hope to get this average up near 500 g/t). If this is true, we are looking at a future market cap much, much larger than 190 million which is 20 bucks a share. And that doesn't even take into account their 4 other mines that they are currently drilling on. I have a hard time modeling what this company is worth without these drilling results which should be out soon. But you need to remember, the company has no debt, no hedging, and nearly 40 million in cash for exploration (as of 6/30).

The real question to me is how are they going to be able to finance El Quevar. If they can minimize dilution by selling off some of their small exploration projects, then I wouldn't be surprised if AUMN becomes a five bagger from today's prices.

Looking forward to other's thoughts on AUMN,

Ryan K

MTO.V

Metanor's Ron Perry went onto Jay Taylor's, turning hard times to good times this week. All investors of Metanor should tune into the first minutes of Jay's podcast for a great update on the company.

In the podcast Tuesday, Ron confirmed that the 43-101 will be out this week. That means tomorrow or after market today are the likely dates. They will have a new corporate presentation out as well showing all the anomalies which are extremely promising.

Some interesting news: they are thinking about building a consecration plant for the Barry pit after the 43-101. They also think they can double the number that the will announce this week. In future, they foresee Bachelor mill focusing on Bachlor Lake mine. And then a mill or consecrator at Barry in the future.

Anyway take a listen to the interview here: http://www.voiceamerica.com/voiceamerica/vepisode.aspx?aid=48593

Ryan K

MTO.V

Metanor's Ron Perry went onto Jay Taylor's, turning hard times to good times this week. All investors of Metanor should tune into the first minutes of Jay's podcast for a great update on the company.

In the podcast Tuesday, Ron confirmed that the 43-101 will be out this week. That means tomorrow or after market today are the likely dates. They will have a new corporate presentation out as well showing all the anomalies which are extremely promising.

Some interesting news: they are thinking about building a consecration plant for the Barry pit after the 43-101. They also think they can double the number that the will announce this week. In future, they foresee Bachelor mill focusing on Bachlor Lake mine. And then a mill or consecrator at Barry in the future.

Anyway take a listen to the interview here: http://www.voiceamerica.com/voiceamerica/vepisode.aspx?aid=48593

Ryan K

AUMN,

Cl, yes, very good day for Golden Minerals, but in reality this stock has not even gotten started yet. I'm astounded by how cheap it is. The company has more properties than they will ever be able to manage, and no one has begun pricing them in. I really would like to see Golden Minerals unload some of those over 20 early explorations projects while gold is high. We have seen consolidation in the gold market lately, and they have quality projects located in good regions. I'm sure people would love to pick a few up. Have you talked to management lately about these projects?

Secondly, I'm really looking forward to some results on the four other projects that they are currently drilling on. We all know they have a company making mine in El Quevar. Let's see if they can find another significant mine and then I'd love to see them find partners for these other mines to help with the costs and also not divert their attention away from El Quevar.

And everyone, we need to remember they have less than 10 million share out currently. An investment group from Australia currently owns almost 20% of the shares. That doesn't begin to count all the shares that management continues to purchase. We are currently witnessing what low share count gold stocks can do with Goro and it has just under 50 million shares outstanding. This is 1/5 of the share count of Goro. It's only a matter of time before this stock gets discovered and when it does, there will be many people fighting over these few shares.

Looking forward to hear some more drilling results in the next few weeks.

Ryan