Kaiser says buy Cornerstone: think Altius at 30 cents
2005-03-02 15:42 ET - In the News
John Kaiser, writing in a Feb. 11, 2005, Express, says a company very similar to junior star Altius Minerals Corp. ($3.85) but trading at a fraction of the price is Cornerstone Capital Resources Inc. (30 cents), which he now recommends as a medium-priority bottom-fish buy in the 30- to 49-cent range. The California letter writer says the stock got beaten up in the market late last year when London-based chief executive officer Jonathan Challis left the company. Founders Glen McKay and John Fleming have since then taken a hands-on role in revitalizing the company. Cornerstone has nearly 20 projects in Newfoundland and Labrador, of which seven are farmed out to other parties. Mr. Kaiser stresses that Cornerstone has several projects within the belt of rocks in central Newfoundland that hosts Messina Minerals Inc.'s Tulks South discovery. While Mr. Kaiser concedes that none of Cornerstone's projects have reached the stage where they offer big and exciting obvious dream targets, that complaint could also be levelled at Altius and its portfolio of projects. Cornerstone does not have big-name brokers as major shareholders, but Mr. Kaiser says it is debatable whether that is a good or bad thing.
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