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, Im 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.