We have to look through lots of penny mines to find a handful of attractive buys. That’s because of the many safeguards we apply to cut your risk. Here are some examples.
1. We insist on political stability. Exploration is risky enough without the threat of expropriation or onerous taxes.
2. We look for well-financed penny mines with no immediate need to …read more »
IVERNIA INC. $1.20 (Toronto symbol IVW; SI Rating: Speculative)(416-867-9298; www.ivernia.com; Shares outstanding: 134.7 million; Market cap: $161.7 million) has now temporarily closed its 100% owned Magellan mine in Australia. Meanwhile, Ivernia is seeking approval to ship the lead concentrate in enclosed and double-sealed containers. These will be transported from the mine site, through the port, and then on to customers …read more »
TAHERA DIAMOND CORP. $0.88 (Toronto symbol TAH; SI Rating: Speculative) (1-877- 777-2004; www.tahera.com; Shares outstanding: 209.8 million; Market cap: $184.6 million) has sold 22.5 million units at $1.00 per unit to raise $22.5 million. Each unit is made up of one Tahera share, and one-half of a share purchase warrant. Each whole warrant is exercisable at $1.00 over the next …read more »
STORNOWAY DIAMOND CORP. $1.03 (Toronto symbol SWY; SI Rating: Start-up) (1-888-338-2200; www.sornowaydiamonds.com; Shares outstanding: 200.2 million; Market cap: $206.2 million) recently completed the acquisition of TSE-listed Ashton Mining for $117 million. In a separate transaction, it also acquired all of the outstanding shares of TSE-listed Contact Diamond for $19 million.
The new combined diamond-exploration company holds cash of $37 million. It …read more »
DIAMONDS NORTH RESOURCES $0.93 (Toronto symbol DDN; SI Rating: Start-up) (1-866-802- 2010; www.diamondsnorthresources.com; Shares outstanding: 50.9 million; Market cap: $47.3 million) has interests in 12 projects covering over 10 million exploration acres in Nunavut and the Northwest Territories. Its prospects range from early to advanced-stage exploration.
Diamonds North’s leading prospect is its 100%- held Amuruk project in Nunavut. To date, the …read more »
GREY ISLAND SYSTEMS INTERNATIONAL $0.58 (Toronto symbol GIS; SI Rating: Speculative) (877-434-4844; www.interfleet.com; Shares outstanding: 66.2 million; Market cap: $38.4 million) is an Internet-based automated vehicle location and mobile data services provider for the fleet management market.
Grey Island’s InterFleet product features a live map display of entire fleets of vehicles. The company is now Canada’s largest automated vehicle location provider …read more »
ARIAN SILVER $0.37 (Toronto symbol AGQ; SI Rating: Start up) (1-800-917-4102; www.ariansilver.com; Shares outstanding: 100.7 million; Market cap: $37.3 million) is active in silver exploration and development in Mexico. The company is headquartered in the UK.
Arian’s current focus is on the Calicanto and San Celso projects in Zacatecas state, the recently acquired Tepal project in Michoacan State and the San …read more »
TAHERA DIAMOND CORP. $1.14 (Toronto symbol TAH; SI Rating: Start-up) (1-877-777- 2004; www.tahera.com; Shares outstanding: 156.3 million; Market cap: $178.2 million) has completed the sale of 30 million units to Teck Cominco at $1.00 per unit.
The units are comprised of 30 million common shares and 22.1 million common share purchase warrants, exercisable at prices between $1.20 and $1.50 in 2007, …read more »
It may seem contradictory to use the terms “investment quality” and “penny stock” in the same sentence. However, there are even wider disparities in the investment quality of these stocks than in better-established companies. Most penny stocks involve a lot of risk. They can pay off extremely well when they succeed, but it’s much easier to launch and promote one of these stocks than it is to build a profitable business. That’s why penny mining stocks are so common, even though profit-making mines are rare. Pat McKeough has a long track record of finding the “gems” among the rocks when it comes to these types of stocks.
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