Thursday, November 08, 2007

TNR Gold TNR .v new kids of the block: new Entry point.

There is a very good entry point now in this early stage exploration play in Argentina.
I am holding the position in this one, it is still very risky, but potential could be worth it.
Web site with new update on all properties is on the way. Latest PP was at 0.2 CAD, after that some guys accumulated serious positions. RAB Capital, Barrick Gold, Nova Gold are shareholders. Financial institutions are accumulating via Pacific International Vancouver, they ran the latest PP. Insiders are holding more then 30% and buying.
Resent drop in price is connected with liquidating of position by Lundin Mining which has received it from Tenke Mining after acquisition. They are not interested in Argentina and sold it into the market after price of TNR Gold increased from 0.2 CAD in August to 0.72 CAD last Tuesday. Insiders were buying again and stock holds very well important level of 0.4 CAD. Once the selling pressure will be out stock will resume its upward momentum with news on exploration activity.
Main Assets:
Argentina 16 properties
Most interesting:
1. EL Salto - drilling is underway Gold-Copper-Moly target.
2. Eurika - Copper historical resources of 50-60 mln t 1% Cu (not 43-101!) drilling next year.
3. EL Tapau - Gold drilling next year.
Company has changed its strategy and will advance these properties by itself, keeping upside of discovery.
4. Los Azules back in rights from Xtrata: Minera Andes MAI.v is operator with two best holes of Cu discovery on TNR Gold property, more search the blog.
5. Other properties are in J/V with Tenke Mining (part is optioned to CVRD), Latin America Minerals, La Mancha.
6. Alaska: Shotgun 1 mil Au oz historical, Winchester zone discovery - 50% with Nova Gold as partner.
More info for your DD:
CEO interview:

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