Topic: How To Invest

Hello Pat, I’m a long-time Inner Circle member. Love your advice. It has been good to me. I was wondering if you had an opinion on speculative mining company Buchans Minerals? Thanks.

Article Excerpt

Buchans Minerals, $0.06, symbol BMC on Toronto (Shares outstanding: 112.1 million; Market cap: $6.2 million), changed its name from Royal Roads Corp. (symbol RRO on Toronto) in July. Buchans is mainly focused on its two base-metal deposits in and around the Buchans mining camp in Newfoundland. The Buchans camp has produced base metals, including zinc and lead, in the past. Buchans now aims to examine the deposits more closely, to see if it can build a successful mine. On June 30, 2010, the company held cash of $2.2 million, or $0.02 a share, so it has no immediate need to raise funds. However, at this very early stage of its attempts to build a mine, the stock has only limited investment appeal. We don’t recommend Buchans’ thin-trading shares. …