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It has $15million in cash, a JV Uranium project with Cameco (drilling in progress) at Mann Lake (eastern Athabasca Basin, Saskatchewan) that intersected 7.12% eU308 over 0.25 m and 5.53% eU308 over 0.4 m.

It also has a high grade Contact copper project in Nevada (drilling in progress). Contact property has 400 million pounds of copper at 1% in just 15 million tonnes. I am set to meet the management and will share further information in the next issue.

The stock looks to have made a massive bottom at $2.25. I don’t own IEC at the moment as I am a bit ambivalent towards Uranium (not that I don’t like Uranium, but I was late to the game and don’t like to play catch up).

Symbol:
IEC.V
Recent Price: C$3.10
Shares O/S:
16.8 M
Market Cap.:
C$50 M
52 Week Range:
$1.55 - $4.5

Riverstone Resources Inc.

Company Contact Info: http://www.goldmau.com/rvs.php
Presentation link: http://www.goldmau.com/RVS_Presentation.pdf

Below is from our weekly update. Drilling is now in progress at Kao. We own over 350,000 shares of RVS at 25-35 cents.

Riverstone is a company we recently bought 200,000 shares into. The name came from our trusted broker and is 10% owned by John Embry at Sprott. The company explores in Burkina Faso in West Africa, which hosts a number of sizable mines and advanced deposits, namely Essakane (Goldfields/Orezone), Bissa Hill (High River Gold), Mana (Semafo), and Goulagou (Golden Star). Riverstone has properties adjacent to all those properties.
 
Alvin Jackson, who used to run EuroZinc (which was taken over by the Lundin Group) is now a member of Riverstone’s Board of Directors. Mr. Jackson introduced RVS to a key ex-Placer contact in Africa who connected the company to properties in Burkina Faso.

The property that interests me the most is Kao, located south of Golden Star’s Goulagou. RVS drilled on it and obtained several lengthy intercepts over 1g Au.

http://www.riverstoneresources.com/s/Rambo.asp

These are not Aurelian type of numbers, but also keep in mind that these 200 meter spacing holes, and the property certainly have to potential to expand. Deposit is near to surface and cost of extraction is low.

I talked to the Riverstone team several times in the last 3 weeks; these are competent people who pay attention to details. Their sister company Gateway Gold comes recommended by John Kaiser a while back. Mr. Kaiser does his homework.

Symbol:
RVS.V
Recent Price: C$0.28
Shares O/S:
32 M
Market Cap. : C$9.1M
52 Week Range:
$0.20 - $0.445

Apogee Minerals Ltd.
Company Contact Info: http://www.goldmau.com/ape.php
 Presentation link: http://www.goldmau.com/apemarch2006.pdf
           

I hear that Apogee closed its $4 million financing at 40cents. It hurts to see shares issued so cheaply but glad the money raising is done and we are ready to drill and report good results.

Symbol:
APE.V,
Recent Price: C$0.46
Shares O/S:
43.7 M
Market Cap. : C$20 M
52 Week Range:
$0.415 - $0.95

Tyler Resources Inc.

Company Contact Info: http://www.tylerresources.com/home.php
Presentation link: http://www.tylerresources.com/pdf/Tyler%20Corporate%20Presentation%20June%202007.pdf

Below is from GoldMau weekly update:

CEO JP Jutras emailed me back on Thursday, he is heading to Mexico to check out the new zone 5km from the main Bahuerachi where 5 billion+ pounds of Cu and 6 billion+ pounds of Zinc have already been defined. I’d take TYS (which I own) over say Copper Fox anytime.

When a company reports tonnage at zero percent cut off and classify tonnage based only on copper equivalent cut off, I’d be very careful with such practice by the management. With recent proposed take over of Aur Resources and Northern Orion (both are copper producers), I’d certainly keep a copper speculation in my staple. Tyler is still mainly a retail play but I expect it to change as the deposit advances to pre-feasibility. I just don’t think the market understood how much Copper AND Zinc that Tyler has, and how cheap it is relative to its market cap.

Symbol:
TYS.V
Recent Price: C$0.73
Shares O/S:
111.5 M
Market Cap. : C$80 M
52 Week Range:
$0.335 - $1.03

“I just don’t think the market understood the how much Copper AND Zinc that Tyler has, and how cheap it is relative to its market cap.”

Primeline Energy Holdings Inc.
Company Contact Info: http://www.primelineenergy.com
Presentation link: http://www.primelineenergy.com/i/pdf/Presentation.pdf

The IR of Primeline used to be my immediate next door neighbor, he has moved few blocks towards the beach and we had a lunch few weeks ago. The JV with CNOOC is going well and we could hear production planning/decision as early as year end. The chart is looking very bullish. I own 60,000 shares average $1.9.

Symbol:
PEH.V
Recent Price: C$1.96
Shares O/S:
47 M
Market Cap. : C$93 M
52 Week Range:
$1.2 - $2.45

Coastport Capital Inc
Company Contact Info: http://www.goldmau.com/cpp.php
Presentation link: http://www.goldmau.com/cpp2007-05_presentation.pdf

Symbol:
CPP.V
Recent Price: C$0.495
Shares O/S:
40 M
Market Cap. : C$20 M
52 Week Range:
$0.38 - $1.16

Knight Resources Ltd.
Company Contact Info: http://www.goldmau.com/knp.php
Presentation link: http://www.goldmau.com/knpWestRaglanMay7Final.ppt

Knight is our current stockchart of the week: http://www.goldmau.com/weeklychart.php. Below is from the link. Dave Brook at Knight is first class professional and wouldn’t tell me when drill results will be out. We know from past drilling that Nickel IS there, we just don’t know how much Nickel. If they are able to duplicate past success of 15 m of 3% Nickel near surface, stock could react very positively.

Symbol:
KNP.V
Recent Price: C$0.41
Shares O/S:
78.9 M
Market Cap.: C$33.2M
Week Range:
$0.10 - $0.52
Entry Price:
0.31
Target:
75cents

New Company Coverage:

Red Hill Energy Ltd.
Company Contact Info: http://www.goldmau.com/rh.php
Presentation link: http://www.redhillenergy.com/inSitePresent/

Red Hill and Tyler are no longer speculative exploration stocks in my opinion. Both companies have quantifiable and valuable resources that’s worth tens of $billions in the ground.

Red Hill has 200 million+ tonnes (at Ulaan Ovoo) of 43-101 compliant Coal in Mongolia, a location favored by the Chinese and Russians, both are hungry for coal. Coal remains dominant energy source while nuclear power plants are being erected. Coal, like steel is a highly monopolistic market with suppliers naming the price.  China is largest consumer and producer of Coal and they are elbowing the markets.

Symbol:
RH.V
Recent Price: C$1.19
Shares O/S:
47M
Market Cap.:
C$56 M
52 Week Range:
$0.65 – $1.4

“Red Hill has 200 million+ tonnes of Coal in Mongolia, a location favored by the Chinese and Russians, both are hungry for coal.”

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