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Frank Pembleton

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Frank Pembleton

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Thursday, 11/06/2003 6:53:41 AM

Thursday, November 06, 2003 6:53:41 AM

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Picks from New Orleans
http://www.mips1.net/mgn03.nsf/Current/80256DCE0038757A85256DD600116E6A?OpenDocument

Canarc [Toronto: CCM]

Rising gold prices make Canarc’s Benzdorp project in Suriname ever more attractive. News and developments from the project have been far too slow, which is cause for concern, although that is offset by a recent financing which has left the company cashed up to continue drilling off the project.

Canarc hopes to link two zones and so define a single, large deposit that would be more attractive. The new drill season is being designed too that purpose, but it would also help to get a sniff of a resource count in the near future. Current market conditions favour more action than less.

Meanwhile, the New Polaris deposit in British Columbia continues to be developed with a longer term view to production.


FP........................................................

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