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3/11/09

Trading Post (mine that market edition)


Dorato Resources (DRI.v) down 3.7% at $0.52. Our merry band of shareholder-miners today shocked nobody by asking for another $5m in a dilutive placement that adds 10m shares to the outstanding column and 5m to the F/D. Franco Nevada is averging down. Proceeds will go towards the next ransom fee for employees kidnapped by locals that will never allow mining to happen in Cenepa.

Fortuna Silver (FVI.v) up 6% at $0.86. FVI.v today released the final set of drilling results from its 2008 infill campaign at San José in Mexico. No unpleasant surprises in the grades or widths (at first sight, anyway), which means they were good and strong and very economic at present pricing levels for silver and gold. The next step will be to submit the enviro plans to the Mexican authorities, with us investors paying special attention as to how the water supply is proposed to be both procured and managed. I like. I own. DYODD dude.

ECU Silver (ECU.to) up 1.9% at $0.54. Message to main ECU.to pumper Wistar&Co: Yes I know you've tried to comment three times on that ECU.to note written a couple of days ago, but if you don't have the common decency to sign your posts and insist on trying to publish your slanted views anonymously you won't get any joy. House policy is crystal clear. By the way, don't you have any shame about the way you evangelized people into this dog at $2.70?

Freeport (FCX) up 3.3% at $35.28. FCX is just doing so well, result of a good mangement team that isn't afraid of telling the truth to its shareholders. CEO Adkerson gave this interview to Reuters on Monday and it's a prime example of how a head honcho should treat all concerned...with respect, basically. I don't own and I should, frankly. This company is a credit to the USA.