STOCKCHASE

They had to close one of their main mines, the ground was shaking. The question is if they can re-open it. They've had a cash investment of 7 million dollars which they will use to consolidate the stock. He doesn't like consolidation, so got out. 90% of consolidations the companies are down in value a year later.

2007-10-18

Comment

0.160

Costa Rica mine had a ground shift, so had to shut the mine. Tremendous cash flow drain. Looking to change their milling operation in Nicaragua. Because of the negative cash flow, it could go bankrupt in the next 12 months. If they can make their necessary moves, the stock could quadruple, but he is not sure it is wise to Hold.

2007-09-21

BUY

0.620

Have 2 producing mines, one in Costa Rica and one in Nicaragua. Going forward, producing mines will be important, as there is a huge shortage of personnel, so it will be difficult and costly to build new mines. Good price.

2007-02-08

DON'T BUY

0.550

Operating 2 mines in Central America. Having the same problems that so many companies operating 2nd class mines are having, not making any money. When the gold price eventually rises to where it should be, it will make money.

2006-11-30

HOLD

0.630

One of the insiders has been selling. Took over another mine and will perhaps have to raise some financing. Still has quite a bit of potential. Quite content to hold.

2006-09-14

DON'T BUY

0.640

Bill Harris, CFA

Had some labour problems but seems to have cleaned those issues up. Well-managed. Has only a few years of mine life ahead of it. Has low visibility.

2006-08-01

WATCH

0.630

Recently purchased some assets out of Yamana (YRI-T). These assets, along with management change give a constructive outlook to the company. Short-term pressure, probably due to new financing. A “Show Me” stock right now. Once they get 1 or 2 good quarters under their belt, there should be an improvement in the stock price. Would consider in the low $.50 range.

2006-06-29

STRONG BUY

0.640

One mine in Costa Rica and another in Nicaragua. Struggled a bit with one of the mines but they are both cash flowing positively now. In the process of buying a couple of operations from Yamana (URI-T). There will be a lot of gold production from the 4 mines.

2006-06-13

PAST TOP PICK

0.510

(A Top Pick Feb 27/04. Down 16%.) Still likes this. There were a couple of things over the last few years that hammered the stock. Turning the corner now.

2006-01-11

BUY

0.450

Expenses in mining have gone up dramatically and gold prices haven't been enough to offset them. This company has production in Nicaragua and has brought in production in Costa Rica and these 2 are barely breaking even. With a high gold price, which he expects, this stock will be a major winner. Good price.

2005-11-01

BUY

0.430

Bill Harris, CFA

Have a very unique asset in Central America, but it's small and you can basically get your mind around it in a nutshell, but something magical has to happen. A very efficient profitable little operation. Has a shorter mine life ad they have to find something. If you buy at this price, that'll work in your favour.

2005-09-13

BUY

0.440

Have a couple of good gold plays and the 2nd one is coming on stream now. Have taken on about $6 million of debt which is scary. Longer term, they can do well once they get these mines working. A caveat is that management has not done well over a long period of time.

2005-09-06

BUY

0.435

These kind of companies will do well if the gold price moves up sharply. They have already absorbed the huge rise in costs, what remains is the huge rise in the gold price. Their projects in Nicarauga and Costa Rica are both mediocre, but will be very profitable if the gold price unfolds the way he thinks it will. Very cheap.

2005-08-23

BUY

0.530

Would be surprised if the Bayo Vista mine did not come in. A very cheap stock.

2004-12-22

BUY

0.690

A good company. A lot of cost escalation in what they are doing. Their project in Costa Rica is being delayed a little. Will have 2 mines in production by the time gold breaks to the upside. A great little junior.

2004-11-01

BUY

0.490

Underpriced, but the problem is Nicaragua properties have been disappointing. The big hope is the Costa Rican mine. Cheap.

2004-09-07

BUY

0.590

2 operations. One in Nicaragua, but a better one in Costa Rica. A very good junior gold. They will be in production which is good when the price of gold starts to go up.

2004-06-29

BUY

0.670

With a selloff in gold stocks in general, the price is low. Not well covered by the street. Their Costa Rica mine should be in production by the end of the year. Have had some good exploration success in Nicaragua.

2004-06-08

BUY

0.710

Glenn Paradis, BA, CFA

Have some exploration potential and currently are a producer of gold. If gold go up, this is a stock that will participate. Reasonable buy. Speculative.

2004-04-22

TOP PICK

0.840