James West, CEO, Midas Letter Opportunity Fund
FOCUS: Resource Stocks
To view the video on BNN Market Call click here
Hunter Bay Minerals (HBY TSX-V) They start drilling this week on their 100 percent owned Sela Creek project in Suriname. IAMGOLD’s flagship Rosebel mine is to the north (14 million ounces). Newmont’s Nassau mine is the south and east. (4 million ounces). Both have the same surface footprint as Sela Creek….historic alluvial workings on the 1,000 km lone Guyana Shield that extends from Venezuela to northern Brasil. There are no deposits with this particular configuration on the Guyana shield that have not gone on to become million ounce plus mines.
Tinka Resources (TK TSX-V) Ongoing drilling on their 100 percent Colquipulcro project yielding excellent silver grades: 58 metres of 109 grams per tonne silver, 56 metres of 80 grams per tonne silver, 92 metres of 92 gpt silver including 10 metres of 300 grams per tonne. All on top of a historic 20 million ounce resource. We are in the process of building a position in this company.
Asher Resources (ACN TSX-V) Brand new, super low share issuance (12 million fully diluted), fantastic former producing mine on the Walker LAne Trend where surface samples have yielded results such as 2 metres of 26 grams per tonne, and lots of other excellent samples suggest this is an overlooked gem in the Walker Lane trend that could become a new discovery. We don’t own this one yet but plan to.