NBRI North Bay Resources should be at least 10-20 bagger from here and is my pick. Here's why!
North Bay Resources Inc. (PINKSHEETS: NBRI) is a junior mining company with over 100 mineral and placer claims encompassing approximately 40,000 acres throughout British Columbia, Canada. The Company's mission is to build a portfolio of viable mining prospects throughout the world and developing them through subsidiaries and JV partners to their full economic potential. North Bay's business plan is based on the Generative Business Model, which is designed to leverage its properties into near-term revenue streams even during the earliest stages of exploration and development. This provides shareholders with multiple opportunities to profit from discoveries while preserving capital and minimizing the risk involved in exploration and development.
Q1 2009 earnings were released on April 22, showing revenue for the
quarter of $40,858.74, or 0.2 cents per share. Net earnings came in at
$11,181.07, or 0.04 cents per share. This marks the fifth consecutive
quarter of positive earnings.
-- In an effort to increase liquidity for shareholders, the Company has
applied for the listing of its common shares on the Deutsche Bourse in
Frankfurt, Germany. Once the common shares are trading in Frankfurt, the
Company intends to also list its Series G Preferred shares (the "Gold
Shares").
-- In February 2009 the Company announced that it has discovered gold on
its Fraser River Platinum JV project. Initial assays were released in
April to show an average of 520 grams per tonne gold from concentrate, for
an effective yield of 0.26 grams of gold per yard of in-place background
placer material. Platinum assays came in as high as 5.38 grams per tonne
platinum and .04 grams per tonne palladium from the same sample of
concentrate. The Phase II work program to excavate the resource to depth
will begin upon receipt of the required work permits from British Columbia.
These permits were applied for in February and are still pending.
-- The Company has been notified by Hidalgo Mining International Inc.
("Hidalgo") that work programs on the Silver Leaf and Gold Hill Project
JV's with Hidalgo are currently scheduled to begin by July 30, 2009.
-- The Company has continued negotiations for the acquisition of an
operating gold mine, and has expanded its potential targets to include a
fully permitted mine in the southwestern US. Additional information will
be released upon the successful execution of a purchase agreement. Towards
this end, the Company recently announced that it has engaged the services
of International Monetary as its investment banking and strategic advisory
consultant to assist in structuring acquisition financing of up to $10M.
- May 19, 2009 -- North Bay Resources Inc. announced that written approval of its Plan of Operations has been received from the Ministry of Mines (MEMPR) in British Columbia, and work permits have been issued to allow mechanized excavation work to begin at the Fraser River Platinum JV project, effective immediately. As required by BC regulations, a reclamation bond has also been posted.
Here are comparisons to other very similar Junior Mining Companies:
SFEG.OB= Santa Fe Gold Corp-Exploration Not yet producing publicized results
PEZGF.OB= Pediment Gold Corp-Exploration Stage not yet producing
MNEAF.OB= Minera Andes Inc. – Production Stage just recommenced work
YNGFF.PK= Yukon Nevada Gold Corp-currently non production work stoppage
SRSR.PK= Sarissa Resources-Exploration Stage Company
WSRA.PK= Western Sierra Mining Corp- Exploration Stage Company not yet producing
NGHI.OB= Nevada Gold Holdings- Exploration Stage needs additional funding according to 10Q
ELRA.OB= Elray Resources- Exploration Stage Company
GSPG.OB= Goldspring, Inc -
NBRI.PK= North Bay Resources – Exploration stage in talks to acquire current operating gold mine received approval from British Columbia to begin mechanized work at Fraser River Platinum Project.
SFEG.OB:-----Revenue (ttm):----68.19K
PEZGF.OB:----Revenue (ttm):---149.83K
MNEAF.OB:----Revenue (ttm):---$00.00-
YNGFF.PK:----Revenue (ttm):----48.98M
SRSR.PK:------Revenue (ttm):----$00.00-
WSRA.PK:------Revenue (ttm):----$00.00-
NGHI.OB:-------Revenue (ttm):----$00.00-
ELRA.OB:-------Revenue (ttm):----$00.00-
GSPG.OB:------Revenue (ttm):----$00.00-
NBRI.PK:-----Revenue (ttm):+++$390.77K+
SFEG.OB:----Net Income Avlbl to Common (ttm):--------7.74M-Negative
MNEAF.OB—---Net income Avlbl to Common (ttm):---19.69M-Negative
PEZGF.OB:---Net Income Avlbl to Common (ttm):----731.12K-Negative
YNGFF.PK:---Net Income Avlbl to Common (ttm):----111.13M-Negative
SRSR.PK:----Net Income Avlbl to Common (ttm):--------1.25M-Negative
WSRA.PK:---Net Income Avlbl to Common (ttm):--------1.30M-Negative
NGHI.OB:----Net Income Avlbl to Common (ttm):--------361.13K-Negative
ELRA.OB:---Net Income Avlbl to Common (ttm):---------334.00K-Negative
GSPG.OB:---Net Income Avlabl to Common (ttm):------4.05M-Negative
NBRI.PK:----Net Income Avlbl to Common (ttm):++++278.84K+Positive
SFEG.OB:-----Diluted EPS (ttm):--0.100-
PEZGF.OB:----Diluted EPS (ttm):--0.020-
MNEAF.OB:----Diluted EPS (ttm):--0.085-
YNGFF.PK:----Diluted EPS (ttm):--0.020-
SRSR.PK:-----Diluted EPS (ttm):---0.0017-
WSRA.PK:----Diluted EPS (ttm):---0.0053-
NGHI.OB:------Diluted EPS (ttm):---0.011-
ELRA.OB:-----Diluted EPS (ttm):----0.005-
GSPG.OB:----Diluted EPS (ttm):----0.0012-
NBRI.PK:-----Diluted EPS (ttm):++0.011+
SFEG.OB:----Shares Outstanding:----80.22M (As of May 14, 09)
PEZGF.OB:---Shares Outstanding:----43.01M (As of Mar 31, 09)
MNEAF.OB:---Shares Outstanding:---230.54M (As of May 18, 09)
YNGFF.PK:---Shares Outstanding:-- 272.65M (As of Dec 31, 08)
SRSR.PK:----Shares Outstanding:---724.12M (As of Dec 31, 08)
WSRA.PK:----Shares Outstanding:--255.09M (As of Mar 31, 09)
NGHI.OB:-----Shares Outstanding:----72.85M (As of May 13, 09)
ELRA.OB:----Shares Outstanding:----56.44M (As of Mar 30, 09)
GSPG.OB:----Shares Outstanding:----3.49 BILLION (As of May 18, 09)
NBRI.PK:----Shares Outstanding:----38.50M (As of May 19, 09)
As of June 10, 2009:
SFEG.OB:---Market Cap:-----$80,007,656
PEZGF.OB:--Market Cap:----$29,935,959
MNEAF.OB:--Market Cap:---$172,905,000
YNGFF.PK:--Market Cap:----$23,310,202
SRSR.PK:--Market Cap:------$27,896,410
WSRA.PK:--Market Cap:-------$3,061,120
NGHI.OB:----Market Cap:-----$28,412,259
ELRA.OB:---Market Cap:------$20,035,312
GSPG.OB:---Market Cap:-----$36,735,807
NBRI.PK:---Market Cap:----------$578,959
SFEG.OB:----Share price $1.09
PEZGF.OB:---Share price $0.78
MNEAF.OB:---Share price $0.80
YNGFF.PK:---Share price $0.13
SRSR.PK:----Share price $0.039
WSRA.PK:---Share price $0.0159
NGHI.OB:----Share price $0.44
ELRA.OB:----Share price $0.36
GSPG.OB:---Share price $0.011
NBRI.PK:----Share price $0.018
