Topic: How To Invest

Hi Pat: Can I have your opinion on Crowflight Minerals? Thank you.

Article Excerpt

Crowflight Minerals, $0.16, symbol CML on Toronto (Shares outstanding: 509.2 million; Market cap: $78.9 million), owns the Bucko Lake nickel mine in Manitoba. It earned its 100% stake in the mine from Xstrata (formerly Falconbridge), by funding exploration costs and other requirements. Crowflight also owns or has options on 800 square kilometres of exploration properties in the Thompson Nickel Belt in Manitoba and the Sudbury Basin in Ontario. The company started production at Bucko Lake earlier this year. However, Crowflight announced in mid-November that it was suspending mining operations at Bucko Lake. That prompted Crowflight’s shares to drop from $0.20 to $0.15 in one day. Crowflight needs to complete further development and conduct more drilling to restart the mine. It is also having difficulty getting an environmental permit for the long-term storage of tailings underwater in Bucko Lake. We don’t have a lot of confidence in Crowflight’s prospects. We don’t recommend the stock. ..