Far west mining is worth owning FWM
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Posted: Tuesday Jan 24 9:54:59PM 2006
My take on it is that there are only 50 million shares outstanding, and ¼ of those are closely held by owners and insiders - and BHP Billiton. FWM has, in its Santo Domingo project, every indication (thanks to their new prospecting technology and old fashioned drilling) of having a massive deposit of a high flying commodity (copper), in a great location close to roads and mills. If the size of this Santo Domingo deposit turns out to be anything like the nearby working Candelaria belt mines – this one deposit alone could have an “in-situ” value of $10 billion. Divide by 50 million shares and what do you get? They own the claims here outright – no shared interests. Also note that this is just one of their prospects. I listened in to the recent tele-conference and the guys are trying to be low-key but you could hear the excitement. They also have $1 per share in just straight cash.
I see a floor at $4.00 – I suspect a huge outstanding order at that price - if I can soak up any at near $4, I’m there.
Posted: Tuesday Jan 24 11:04:52AM 2006
My pick has just been halted pending news
Posted: Tuesday Jan 3 5:15:27PM 2006
I hear that the next NR will be mid January. Some good results are expected included a deeper drill which found more mantos. Its looking very prospective for a world class copper deposit.