Friday, October 2, 2009
Thursday, October 1, 2009
Pescod Talks about...
WEST TIMMING MINING
(T-WTM)
$2.04 -0.03
Mining executive Darin Wagner has had the kind of year
most mining executives only dream of.
His company, West Timmins Mining managed to grab a
whole bunch of land around Lake Shore Gold as gold markets
heated up and then drilled some joint venture targets with
Lake Shore Gold that came up with spectacular results. At
the same time that led to Lake Shore making an offer for
West Timmins Mining.
When negotiations were going on while waiting for some
important drilling results were announced, in the middle of all
that activity with all the lawyers, accountants, and the like
getting together for the long hours in a steamy boardroom,
that’s when Darin Wagner came down with Swine Flu! Funny
how when you have Swine Flu, there are not a lot of people
who want to get to close to you.
It made negotiations a little bit awkward, but they certainly
came out well for West Timmins shareholders who have been
on a rocket for much of this year. Congratulations to Darin!
Meanwhile, success attracts a certain audience and the
shackles come off Darin Wagner on November 6th and he is
free to move to whatever position at any other mining com-
pany he so desires.
Needless to say, there are a whole bunch of people hoping
to get in and ride this jockey one more time. Hoping to get in
on financings or affiliations with whatever new company he
decides to associate with.
I’m sure Darin will remember those who wrote about him in
the past and have said nice things about him and...
RESVERLOGIX CORP.
(T-RVX)
$3.03 -0.27
A few days ago we mentioned that Jim Letourneau of
the Big Picture Speculator and the guy with one of the
hottest hands in the market of late, suggested Resverlogix
Corp. was something we had to have. Usually when Jim
says we have to have something, we find out we usually
have it, so there we are!
In the couple of days since we’ve had it, we can’t be-
lieve the swings in the stock which have been almost
$1.00 a share. A traders delight!
But Resverlogix is in a field (bio-medical) where they
are looking for new drugs that it tends to take so long to
develop a new drug and when they test it, they usually
find out it doesn’t work anyway. However in Resver-
logix’s case, they are after drugs with billion dollar poten-
tial so it just might be worth a ride. As we mentioned, we
are already there.
For those who want a better look at the company, BNN
just had an interview with the company President and it
probably gives you a good idea of what they are looking
for down the road. Just click on this link:
BRETT RESOURCES
(V-BBR)
About John Kaiser, of the Bottom Fishing Report and
some of his stock picking abilities. He mentioned to us
and those on BNN that one of his favourite stock picks
was Brett Resources and explained that with his belief that
gold is going to $1200, Brett would offer him plenty of lev-
erage to the price of gold. It, being a potential higher cost
producer down the road.
Which got us to e-mail John Kaiser after his show last
week to ask this simple question: Will we be able to retire
on our holdings of Brett Resources? (Remember, a few
days ago we mentioned we bought a few—now we own a
bunch).
He suggests that yes, we could be able to retire on this,
but remember he needs the $1200 gold to attain that retire-
ment, he reminds us. Which of course got us a little ex-
cited and a whole bunch of fundamental questions came
to mind. Such as what kind of retirement would it be?
Would it be like a California style with all sorts of ser-
vants? Casual drifts to the beach for surfing? Or would it
be one of those retirements of a cabin in the bush?
One does want quality of life in one’s retirement don’t
they? So while we worry about some of those fundamen-
tal questions, we got around to the incidental items such
as what the heck is Brett? What is the name of the pro-
ject….McFallen Lake, how many ounces of gold does it
have...estimates currently come in at five million ounces
and who the heck runs the play?
Patrick Soares is the President and well-known mining
guy Ron Netolitzky is the Chairman. We immediately did
an interview with Patrick Soares which we hope to be run-
ning next Monday. We suggest that this is probably one
of the biggest, unknown gold plays anywhere in the
world...how many five million ounce resources are out
there that you haven’t heard of if you are following the
gold scene...Soares tells us he is probably to blame for it
because he has been so busy in the last 18 months, help-
ing put the company together, considering the market
crash and getting exploration game going and MOU for
native groups that he hasn’t had time to tell the company’s
story. Now he is taking care of that. As we say, we will
publish the interview next Monday.
Of course if gold does go to $1200, there’s a few gold
companies that should do well, provided the brokers
don’t keep printing so much paper!
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