Topic: How To Invest

Hi Pat: Could I have your thoughts on Olivut Resources? Thanks.

Article Excerpt

Olivut Resources, $1.58, symbol OLV on Toronto (Shares outstanding: 31.7 million; Market cap: $49.6 million; www.olivut.com), is a diamond exploration company with a 100% interest in the HOAM diamond exploration project in the Northwest Territories. The company also has option agreements with Orosur Mining under which Olivut may earn up to an 80% interest in diamond prospecting and exploration licences for properties in northern Uruguay. It has further option agreements with Latin American Minerals Inc. to explore the Itapoty diamond project in central Paraguay. Olivut has discovered 26 kimberlites so far, but it has yet to conduct enough drilling to test for diamonds. Pierre Lassonde, the chairman of Franco-Nevada Corporation, now owns 17.99% of Olivut. His stake has attracted some investor interest to the stock. However, the chances of discovering mineable quantities of diamonds in any kimberlite are very remote. We don’t recommend Olivut’s thinly traded shares. shares. …

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