Pick of the Junior Explorers – Two Start-ups With Different Levels of Risk

Article Excerpt

CELTIC MINERALS $0.52 (Toronto symbol CME; SI Rating: Start-up) (403-261-2890; www.celticminerals.com; Shares outstanding: 67.4 million; Market cap: $35.0 million) has as its main asset a 50% interest in the 113 square kilometre West Voisey’s Bay project, located on the southwestern edge of Vale Inco’s Voisey’s Bay nickel mine and property in Labrador. In addition, Celtic holds a 100% interest in 77 square kilometres which adjoin the West Voisey’s Bay project. Celtic also continues to add to its early-stage nickel prospects elsewhere in Labrador. This includes the April, 2007 staking of its 100%-owned Kingurutik property, 85 kilometers northeast of the Voisey’s Bay mine. Celtic’s shares jumped to as high as $2.48 a share in October, 2007 after an analysis of surface samples revealed high nickel/copper mineralization at Kingurutik. Celtic also has other nickel prospects in Quebec and Newfoundland. Nickel formations typically appear in clusters, so the proximity of Celtic’s Labrador properties to the Vale Inco deposits adds to its speculative appeal. However, unlike Baffinland…