Jr. Mineral Exploration Plays?
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Posted: Wednesday Aug 15 11:02:20AM 2007
griffith, I would be cautious going forward. Juniors could easily stay down for a few months. I doubt base metal prices have stopped correcting.
I sold out of UPC sometime ago but note that it is beaten up. So is asset-rich explorer BAY.v. However, my spidey senses tell me that it is still early to rush back into u308.
Here are two promising pre-development plays.
Selwyn Resources (SWN.v) ($0.60 to $0.65) has the largest undevelopped zinc and lead deposit in the world and is located in mine-friendly Yukon territory. First production may be 5 years away. It is the only play in a stripped down, cash/short-term fixed-income-rich portfolio that has honest to goodness 10-banger potential.
Mirabela Nickel (MNB.to) (C$3.75) is an Australian-managed pre-development play with a large nickel poryphery deposit in Bahia, Brazil. From memory, first production could be as early as late 2008. As it gets lower, I intend to average down.
Both these plays represent bets on robust mid-term global economic growth.
Cuidado - westslope
Posted: Wednesday Aug 15 7:08:26PM 2007
Thanks for your comments, guys. Greatly appreciated!