Topic: How To Invest

Dear Pat: I would like your advice on the following stocks: Labrador Iron Mines and Eastmain Resources. Regards.

Article Excerpt

Labrador Iron Mines Holdings Ltd., $6.17, symbol LIM on Toronto (Shares outstanding: 37.2 million; Market cap: $229.5 million), is restarting the Schefferville iron-ore project in northwestern Labrador. This project contains about 140 million tonnes of iron ore. The ore requires little processing, and the transportation infrastructure is largely in place. All the ore will be loaded onto trains and shipped straight to the port town of Sept-Iles, Quebec. From there, ships will carry it to Europe, for sale to smelters. Labrador Iron Mines’ shares shot up in December. That’s when it received all the necessary approvals for a mine. The company now expects to begin production at Schefferville in mid-2010. The outlook for iron-ore prices is improving as the global economy continues to recover. Labrador Iron Mines is okay for aggressive investors to hold. A: Eastmain Resources Inc., $1.45, symbol ER on Toronto (Shares outstanding: 89.0 million; Market cap: $129.1 million), develops and explores for gold and base metals on its properties…