A few emergent gold miners

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The question arises as to where to find value in the gold market. Many of the largest companies are over-priced, so the question arises as to where to find value. I have several suggestions:

1. Ampella Mining (AMX.ASX) - This is an emerging gold miner in Africa.

2. Red 5 Ltd (RED.ASX) - This is one of my old favourite stocks. Finally Red is reaching a point of production after a lot of consternation with the enforceability of the mining code in the Philippines. Local opponents of mining projects in the Philippines have been using local governments to block mining. The national government has since enacted a law to ensure local law must be compatible with national law. You might be a brave person to believe that this will be the end of the issue though. RED might however factor into your investment portfolio.

3. North West Resources (NWR.ASX) - This company has struggled in the broader market for three reasons. The small resource base of just 380,000oz, the long exploration-development lead time. i.e. They have taken 10 years to prove up a small resource (i.e. suffered from a lack of market appeal, due largely to vertical ore trend) and market illiquidity. The company has however released a pre-feasibility study suggesting a NPV of $200mil from 4-5 year mine-life compared to a current market value of $21mil. The implication is that, if we allow for a $40mil development cost, they will need about a 1:1 issue to fund development. That gives a market value of $40mil, and we might also expect gold prices to rally, so giving at least a 5x upside. There is also upside from drilling ore deep extensions of ore zones. If we appreciate that this means $5mil/year off earnings, we might decide to discount future resources. Having said that, it makes more sense to drill these zones later, from development headings. Clearly some market pundits are taking to this stock, or is it the company executives, because suddenly there are buyers, and sellers being taken out. There is no question there is value here.....and a capital raising.

Wish I had more mining stocks to recommend but I'm not actively researching at the moment. If anyone has any stocks they want me to look at; by all means do so. Just Australian (ASX) market thanks.

PS: As it turned out sellers dumped on NWR...perhaps someone is acquiring a position or some shareholders are dumping before a forthcoming issue.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Stocks to watch in Australian mining

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Other appealing stocks at the moment are:

1. Global Metals & Mining (GBE.ASX): This company has an advanced niobium project in Africa. Niobium is used as a steel additive, and can be a substitute for tantalum in cell phone capacitors. The company has a market capitalisation of $24mil (223mil shares on issue), and yet it has $35mil in cash. It has just secured a credit facility from a Chinese bank to fund the niobium project, it has a share-buyback strategy in place, and its getting some exciting drilling results for graphite (5-10% graphite is ok grade) and rare earths/fluorite in other projects. The company is seeking a listing on the Toronto exchange in order to raise its profile. That's smart. Buyback shares in Australia, raise more money at higher prices in Australia.
2. Union Resources (UCL.ASX) - The company has a 45% share in an offshore phosphate resource in Namibia. Its JV partner failed to takeover UCL, and now UCL is undertaking a takeover of Minemakers (MAK.ASX). Personally, I would prefer not to see UCL add a premium for MAK's Queensland phosphate resource because its located in an isolated region. The best course of action would be a in-species listing of their respective Namibian phosphate asset, or better still a buy-in by a major investor. This latter option strikes me as the most likely prospect. UCL has the best looking balance sheet; most particularly because it retains any upside from the Iranian Mehiabhad lead-zinc project, which has immense value...if they are able to avoid nationalisation by the Iranian government. This project probably has a NPV of $300-500mil, depending on the scale of the project and prices. The implication is that UCL is well-positioned. It has cash reserves of $2.8mil and 95mil shares in issue at 16c. This company is likely to be a long-life phosphate producer. Expect a takeover or scheme of arrangement to greatly add value to UCL, and MAK as well. 
3. Metals Ex Ltd (MLX.ASX): This is a company that I have liked for some time, particularly for its nickel exposure. Tin prices buoyant, so its appealing that this company produces 2.5% of the world's tin supply, and is expanding production and reducing costs. Fortunately a tight tin market heralds well for this project, however one must acknowledge that the profit margins are thin, and the global resource grade of 0.8% is way below the current mining grade of 1.48%Sn. The more significant issue is the prospect of developing its nickel project, one of the largest undeveloped nickel resources in the world. Nickel is an important alloy in stainless steel, and given the huge market for stainless steel, as well as the life of building facades, expect this to underpin projects like this. I expect this company to make substantial returns from its nickel project. The company is in the process of merging with Westgold, which has the potential to contribute 200,000oz/year of gold production. MLX also has $105mil of investments and cash. I'm expecting a recovery in gold prices due to the very low interest rate environment and perhaps modest inflation.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Union Resources-Minemakers phosphate tussle

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There is a stalemate in the case of the Union Resources and Minemaker takeover bids for each other. Clearly the problem is that both companies want to progress the Namibian offshore phosphate project, but neither will willing to concede each others valuation. I personally find Minemaker's Wonorah phosphate deposit to be not very valuable because its a large resource in a remote location. Why would a Union Resource shareholder want to dilute their equity with that project, when there is a perfectly located offshore project in Namibia easily beneficiated. It gets better for Union Resources shareholders because an Omanese state engineering company has acquired a 19.9% stake in the company, which means that UCL shareholders will have a better change of getting value from a successful bid. If you read the background Target statement of Minemakers, MAK have no shareholder to give shareholders a blocking state. They don't have the cash for a cash bid, so I think there bid will fall empty. At least UCL shareholders can expect more equity value from their Omanese shareholder. 

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Top ASX stocks for a moving market

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The US market has had some positive earnings reports overnight. We need to remember that the US is rebuilding savings in the household sector, and that the corporations are cashed up. The implication is that there is scope for significant business investment, but I wouldn't be expecting a 'flash flood' of economic activity since the corporate sector is depending on consumer or export market action. 

The market outlook is more positive elsewhere. This is however a trade opportunity. My focus is on the low-cap stocks in Australia which offer strategic value. Cases in point where I have been buying on weakness:

1. Union Resources (UCL.ASX): This stocks has been very good to me as a trade in the past. Mostly on speculation about its Iranian lead-zinc project; the largest undeveloped project in the world. There is a huge sovereign risk attached to Iran of course, so the company has sought out and developed the Mossburger phosphate deposit in offshore Namibia in a JV with Minemakers Ltd (MAK.ASX). Recently an petroleum engineering services company in Oman (the new oil sheikdom) emerged with a 20% stake in UCL; so there is the prospect of a takeover here. This is of course not a surprise to me. I have long written about the prospects for a takeover of this company. The project is at feasibility stage, and really needs some love from a large company. This company fits the bill. After a capital reconstruction, UCL has a market value of just $13mil for a world-class asset with an equity-based NPV of around $100mil; with upside in Iran. We bought this stock yesterday for $0.15.

These stocks are less compelling because there is no imminent or pressing value to be realised to my knowledge.

3. Clean Seas Tuna (CSS.ASX) - It has a strategic positive developing farmed kingfish and other species in South Australia. This company has some backing, but has struggled to firm up a breeding program. The globe is suffering from over-fishing and stricter controls are destined to push fish prices up. Or might we displace our pallet with cheaper fish in other markets. No doubt there will be a move both ways. 

4. Gippsland Ltd (GIP.ASX) is another favourite stock. It is developing a tantalum deposit in Egypt. Not the most stable of places given the political instability. They do however possess a very large tantalum-tin-feldspar resource, and they are capitalised at just $9.75mil. I'm inclined to wait on this one for a better price because there is no clear motive for them to move - except a high tantalum price. Tantalum is not exactly the rarest of commodities. i.e. Australia, South Africa, Canada, Greenland as potential sources of supply. I will buy on weakness as the market is very thin despite its near 1bil issued capital. The fear is actually the prospect of a consolidation. My experience is that consolidations usually undermine a share price. 

5. Vital Metals (VML.ASX) is developing a tungsten project in Queensland, as well as a gold project in Africa. China produces 85% of the world's tungsten and is expected to curtail supplies from illegal mines. This creates appeal for tungsten miners in the West. There is a project being backed by Warren Buffet in South Korea (through a Canadian group), plus an Woulf Resources, with its project in Mexico. Vital also has the Kota gold project in Burkina Faso. 2nd round drilling suggests high grade, modest resource. 

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Speculative stocks to watch

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There are some good speculative buys which are going to emerge from this current crisis of confidence. The market is currently going through a soft point because:
1. Bad news - with EU governance issues, earnings downgrade in USA, unexpected fall in China's growth.\
2. Arbitrary market outcomes - the current market growth outlook seems very much upon the fiat policies of government, i.e. their arbitrary capacity to print money (i.e. quantitative easing) and the non-responsiveness of higher interest rates.

This is a good time to build a portfolio of stocks which will be strong in any recovery, however at this point one's interest should be in stocks which have access or accumulations of cash.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Union Resources under Minemaker's takeover

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About 6-8 months ago we anticipated a takeover of Union Resources Ltd (UCL.ASX) by Minemakers (MAK.ASX), and that day has finally come. Unsurprisingly it was a 9-for-10 script offer, and it was rejected. Both companies are vying for the opportunity to develop the Sandpiper phosphate deposit in offshore Namibia; after the JV company delivered the feasibility study. The study suggests an appealing return; though unsurprisingly the project cost is substantive. Leave it to an industry major to enter the fray in coming months and buy out these companies. The stalemate will ultimately be decided by outside interests because these two companies don't have the resources to launch such a large project. Might that major be BHP after their failed takeover of Potash Corporation of Canada? Maybe Potash Corporation? It really does not matter, as you go with the resource. I'd wait however for the stock price of these two companies to settle. 

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Archer Exploration and Alkane Exploration

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Comment from another of my blogs:

In late 2013, we might expect those base metal stocks, including explorers, to look really good, as well as rare earth stocks like Alkane Exploration. Too early now though. Its always best to go for those exotic elements in these times; as they are relatively under-priced. i.e. Vital Metals might have advanced its wolframite (tungsten) project by this time. China produces 80% of the world's tungsten, and this company has the Japanese government as a partner. This is because the Japanese government invests where security of supply constraints are posed. Another appealing exotic company is South Australian based Archer Exploration....not yet though. Wait for the military strikes.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Some quality exploration stocks moving forward

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Given the sentiments I expressed in this blog article, you might be inclined to think its time to look at resource stocks again. I have still to answer this question, but at this point, let me point you towards several stocks you might like to consider, as well as the type of stock.

Type of stocks

If we are about to engage in a period of solid, sustainable growth, then we want to ditch gold, and look at commodities - copper and nickel. We know copper has very good fundamentals, so this is a very good bet. I also like nickel, as I know of scant new capacity. Undoubtedly there are some projects in Russia, Greenland, Africa, but my interest is in one in particular.

Which companies?

Of course we can buy established miners, or we can buy future miners which are trading at a discount. I have several in mind:

1. Metals X Ltd: This Australian stock is capitalised at $300 million; but in 4-5 years it will be worth $3-4 billion, so it represents good buying. It is sitting on one of the largest undeveloped nickel deposits in the world.

2. Voyager Resources Ltd (VOR.ASX) is another good stock which I just discovered today. The company is developing a raft of good projects in Mongolia, which will supply gold and base metals to China. The grades are clearly commercial, so its just a matter of time for the value of these assets to be realised. This company is capitalised at $100 million, but again, though they might not be the largest projects in the world (at least at this point), they have a few of them. They have $5mil in cash, and having spent as much in the last quarter, you can expect a capital raising in the next quarter. We do like to see exploration though for such a large-scale project, you don't need to worry about the cash burn because the % of cash raised is less than 10% of the equity. The long-term upside is far greater. Expect a takeover bid for this company if the share register is open; but perhaps they already have Chinese stake holders. Do your research!

3. Marengo Mining (MGO.ASX) - This is a more advanced copper-gold play in PNG. PNG is not the easiest regimes in the world to work in, but when you have a large project, you can commit to it far more easily. The tax system I doubt is as favourable as Mongolia, but this is a large project, low grade, and mix of copper-gold.

I am comfortable with the sovereign risk of these countries. Its Turkmenistan, Kirghistan, Uzbekistan and affiliates that I worry about. I've seen projects in these areas delayed long-term.

You may know some other good stocks....honestly I am not focused on the market; but based on my 30 years of market watching...yes, I started when I was about 12-13 years old, these are good stocks...probably better than many you will find.

Japan Foreclosed Guide Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Non-meat proteins - food for thought?

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There are a few ASX equities which are exposed to the agricultural sector. An issue that has caught my eye is the question of antibiotic use in livestock. Judging by this article in the NY Times, you might wonder what is the implication of increasing bacterial resistance to antibiotics used in farm animals. It is an interesting dilemma in terms of its future outcomes, and these of course have implications for investors, whether you are:

1. A farmer with a multi-million dollar investment in livestock raising assets

2. A passive investor interested in, or holding stock in Australian Agricultural Company (ASX:AAC).

There are two counterfactuals here:

1. The prospect of increasingly resistant bacterial counts in livestock turning people off meat

2. The prospect of bacterial resistance turning people off imported meats

3. The prospect of non-US farm assets becoming more valuable because they do not use antibiotics in farm animals, or because they are more sensible with respect to dosage.

I personally don't know enough about the topic to say more....just its interesting. Feedback is welcome. I wonder if it will make these farm assets more valuable outside the US; but I suspect, consumer suspicion and paranoia might in fact result in consumers dropping meat altogether. Of course, you will have no problem if you simply ensure you cook your meat well.

For the investor, perhaps the safest investment strategy is to invest in non-animal forms of protein, as these are surely to benefit from the oncoming scandal. Lentils anyone? Who grows these? I came up with a few plausible investments:

1. Alliance Grain Traders [AGT:TSX] - This is a stock with a longer equity market history, and it appears to be a good timing for an entry in this stock, since the stock is at a 2-year low, and the PE ratio is a reasonable 12x earnings. You can follow this stock at Google Finance, however you will want to look at its earnings outlook. Having said that, the earnings per share of $1.09, or earnings yield of $1.09/$19.51 = 5.5% is not overwhelming for a $500mil stock. The question is whether its a turn-around story? Download the latest presentation (Nov 2011).

2. Legumex Walker [LWP:TSX] - see this company presentation. I've not researched this stock much, but it appears to be a new listing or equity enterprise, so you might want to follow it to find a technical entry point on the chart.

These are both Canadian-listed companies. The appeal of lentils, as a source of protein, is that they use less water, and of course don't entail the same exposure to meat-born bacterial (i.e. staf) infections.

3. Viterra Ltd - part of the larger Canadian group - see Google Finance and their website.

The nice aspect of these stocks is that they are tangible commodities and Asia is not meeting its own requirements; and there is clearly the prospect of a shift to greater edible 'non-meat' proteins, and this could see greater profit margins for these companies. This trends could be surprisingly quick if there is a 'scandalised' US beef industry. There is plausibly the prospect of higher profit margins from greater global consolidation of these businesses. I already see this happening with these two players. Are these enterprises the consolidators or the target? It probably does not matter....as long as they stay trading at appealing earnings multiples.

If you want further research on 'pulse' crops - see this website. There seems to be a great deal of upside for consolidation in the Australian pulse market, as I could not find listed producers, so expect these Canadian players to step in to do that.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Press release by Adamus Resources (ADU.ASX)

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Adamus Resources (ADU.ASX) has just released an announcement highlighting its developments in Africa. I find this company a good example of the type of stock to buy for the reasons alluded to. The other reason is perhaps the diversification of risk; and the prospect of higher grade ore being found as well as the inevitable addition to resources when you have so much exploration area to test. Watch those drill results! The stock is up today on this announcement.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Interest returns to the gold stocks

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Its been some time since I posted some news on speculative mining stocks. The reason is that I see little appeal in exploration stocks at the moment for several reasons:

1. The lack of appetite for risk

2. The lack of capital for risk, i.e. the difficulty raising money, i.e. Base Metals Ltd

3. The difficulty for non-gold projects given the worrisome outlook for commodity demand

4. The development lead time for projects

One of course can find stocks which one likes like MIL Resources (MGK.ASX), however without a rapid development schedule or adequate funding, then the market will pass them by. Recognising the slow pace of exploration or gold conversion by MGK, I decided to sell this stock 2 months ago. The concern is that even when they release results, the market will say - these results are good, but what about the spectre of another cash raising. When the company is not going to have an operating mine for 3 years, then its looking too long term, and of course in a recession, they will be looking at share price debasement with each successive cash raising. The alternate picture of course is that they are able to attract funding from one of the majors. They have been passed over by a major Chinese company, but that company was probably interested in the iron ore project. The gold side is promising, but sadly not in this commodity cycle.

In this last week, I have been drawn back to an old favourite stock - Adamus Resources (ADU.ASX), which is merging with a Canadian mining stock Endeavour Mining Corp (EDV.TSE). Adamus Resources is a small miner with the capacity to add resources to its existing mine, as well as to scale up its existing plant given the prospect of promising exploration results.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Evolution Mining - dubious entitlement

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A prospectus offer for Evolution Mining has just arrived in my email box. This offer does not look attractive at all. What is wrong with it:

1. Assets are not particularly solid. i.e. Cracow is mined out, the projects are small and have dubious or risky upside potential.

2. Newcrest will sell out - Even if they are getting vendor shares, I'd expect an investment bank to find a way to upload the stock through a CFDs platform.

3. The finance market is risk-averse to new project investments, and these gold projects are dubious.

Yes, I know, this is a gold stock, but I don't believe this company will ever reach anything near these production projections. This is an exit strategy.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

MIL Resources (MGX.ASX) - moving higher

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MIL Resources (MIL.ASX) has been going sideways in recent times. "Gold is great", but it makes more sense if you are producing it, or exploring for it. This only occurs when companies start sinking holes. This is the case with MGK. This month they commenced a drilling program on their PNG gold projects, and based on the indicators from surface trenching and their geological association, I am expecting some high grade results over widths of 4-20m. This makes for very attractive small scale mining. I'm expecting this stock to break out of its 2c resistance very soon, so I have rebuilt my stake in this company.

Alkane Exploration (ALK.ASX) - a stock which I have liked for a long time, has recently announced that its looking at a 1mtpa processing plant for its Dubbo rare earths-zirconia plant. This project has a NPV of $1.2billion, yet the company is capitalised at just $450mil. I see upside for this $1.70/share stock (we recommended at 45c) to $2.00, however its going to need an issue soon, despite its $18mil in cash. Market confidence will be another factor paring back the prospects of a 1mtpa plant, even if the 'anti-China' stigma favours full development of this project. I'd question if their suite of rare earths are even refined in China. I've done no research to find out.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Questions raised about impact of coal seam gas

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On the 15th July 2010 I questioned the claims of the coal seam gas industry that it was in fact 'climate friendly'. Read my post here. When I say 'climate friendly', I mean that I have huge problems with the global warming hypothesis that its largely caused by human activity, but IF there is solid evidence for 'said influence', then coal seam gas is a future 'sensitivity'. Other people seem to be questioning this issue now - a year after our post.

Of course the greater issue is the question of 'climate change' itself. It was only in 2007 I think that a satellite was placed launched to measure the variations in sunspot intensity. Yes, that's right. Only from 2007 do we have statistics which may or may correlate the Earth's climatic variation to solar radiation. The sun is of course the source for most of the earth's heat, so you'd think this question would be the first 'cause' to identify; but no, academics have to blame 'dirty corporations'. We of course discuss the false science at our climate change blog.

Such issues of course place a risk in people's minds about the appeal of coal seam gas.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

MIL Resources (MGX.ASX) - consolidating

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With the calamity behind us and the market likely to settle down, we are going to see gold prices slump a little, the $A drift, and confidence return to the speculative end of the market; at least the end which is cashed up. MIL Resources (MGK.ASX) are well positioned for recovery. The company has $4mil in cash, and is just about to launch into a drilling program; at a time when gold prices are $1800/oz, and copper prices still a healthy $4/lb. Mostly they are a gold story!

With drilling starting in several weeks, expect speculative interest to return to this end of the market. We can already see this happening. The stock fell to 1.6c when risk capital evaporated, but it quickly returned, and the stock reached 2.2c on Monday before closing at 2c. Today the stock was stronger, reaching 2.2c before sustaining a sell-off due to off-screen selling. It might take a little time to regain the confidence, but I expect it to remain above the moving average.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Gold stocks will lead the market

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The Sydney Morning Herald has come out with an introduction to some gold stocks. The price of these stocks is already very high. I prefer to go into the future and look at stocks which have the capacity to:

1. Excite the market with attract drilling results

2. Increase gold resources substantially

3. Greatly increase their share price

4. Other factors which I explain in the eBook

We really want to anticipate the stocks which will be big in the future, so that we minimise the downside, and maximise the upside. We don't have to speculate on market volatility. If we stack all the factors in our favour, we maximise our chances of success.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

MIL Resources (MGX.ASX) - a short term hit

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MGK will take a hit today after a 550pt hit to the Dow Jones after bad news from the EC. The Dow closed at its low, so further falls can be expected in Friday trading. I note however that gold was strong until gripped by profit-taking. Low interest rates or asset deflation is actually good for gold, because 'no yield' gold becomes more profitable against falling yields of other assets. Gold is going to $2400/oz, so expect more upside. Meanwhile the Dow Jones is going back to 10,550 points - technical support. MGK will probably get support at 2.2c, however it will probably go as low as 2c during the day, so be in there. The Dow will go lower tomorrow, but gold has already had its profit taking. Gold will recover, so buy today. The day to buy is today.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

Vital Minerals (VML.ASX) - a starter, but...

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Vital Metals (VML.ASX) has restored some confidence since the last announcement. The early drilling results were not encouraging. The latest results offer some promise of high grades, though the widths and lack of consistency are reasons to retain some risk-aversion. Check out the results here. Some 15 drill holes of the 60 hole (5000m) program are outstanding. It is not clear what the relationship between mineralisation and host lithologies is, so there is the potential for a new association. This is not clear from the disclosure; nor is the position of the intrusives in relation to the mineralisation, i.e. At depth?

Mind you, with a market capitalisation of $18mil, I'm inclined to think MGK.ASX is far better value, with far more upside. I must acknowledge though that Vital's Watershed tungsten deposit is strategically important, and a nearer term project, as opposed to MIL Resources' Amazon BAy, which they will be sitting on for another decade.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

MIL Resources (MGX.ASX) - a mover! 2nd day

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As expected MIL Resources (MGK.ASX) closed up around 10% today at 2.4c, having touched 2.5c yesterday. There are no announcements at this point; however irrespective of any corporate news stimulus, I suggest there are 'technical' (chart based) reasons to expect a breakout tomorrow to new highs, i.e. above 2.5c. Watch for news overnight or tomorrow.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com

MIL Resources (MGX.ASX) - building support for next move!

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MIL Resources rose to 2.5c today in lunch time trading. The stock has fallen back to 2.3c in the last 30minutes. I see it trading as low as 2.2c (support) before it consolidates for a bigger move in coming days.

Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook

Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com