Note: This report was first distributed to Ticker Trax subscribers on FRIDAY, Dec. 4, 2009.
BOGOTA – Some 19 months ago, I had to plead with geologists, photographers and financiers when I told them I intended to return to Colombia’s gold-dusted Antioquia Department.
I am here now in Bogota, the city of 10 million that is Colombia’s capital. Call it a side-trip to see some pleasurable financiers, geologists and engineers from an Antioquia miner whose shares I own and hope one day to make me an immense profit.
On Saturday, I head to Medellin: first stop – EL Marmato, that divided village and mountain I first came to see in May 2008. The place was dusty and at once full of promise. Many of the wildcat mills there were turning daily profits from the mineros ilegales. See the original Thom Report.
Everyone in Toronto, Vancouver and Nevada who knows minerals wants a piece of this nation, South America’s oldest and most stable democracy. This coming week, no fewer than eight companies are hosting tours of Colombia gold properties. Most are scrappy prospectors.
I am in country this time around to see Bob and Gloria Carrington’s Colombian Mines Corp. (TSX: V.CMJ, Stock Forum) – specifically the Yarumalito Project not more than 15 kilometres as the crow flies from El Marmato.
“I had an investor at the SF show just the other day accuse me of manipulating the stock because he could not buy any – or enough of it,” Bob Carrington, a Nevada trained geologist, is telling me now as I write this. Bob has been working in Colombia as a field geologist and now, a property owner, since 1993.
I do not own any shares of CMJ. But Bob and his tight-knit group, including his Medellin-born wife, Gloria, who turns 49 on Sunday, own about 35 percent of the company. The shares, like most Colombia gold mines these days, is trading about 1,000 times more shares daily during this past week than its one-year daily average.
Raymond Chen of the Chinese Investment Club now follows CMJ, who along with me on sage advice from an African prospector in Ghana, began looking at the Carringtons’ tiny gold project in August and September of this year.
Nate Tewalt, who made a small fortune from Great Basin Gold (he was the first CEO in 1998 or so) and Standard Uranium (2004-2006) is also part of this traveling gold show, having hooked up with the Carringtons in late 1996.
I’ll have more on all this when I survive Bogota and get down to business Saturday. The tour on that day is of Medoro (TSX: V.MRS, Stock Forum), which recently consumed shares of the company whose stock I just loved – at the wrong time – some 19 months ago: Colombia Goldfields and EL Marmato.
Goldman Sachs, I am told by U.S. Global Funds’ Frank Holmes in Bogota, just revised up its copper, aluminum, gold forecasts.
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Ticker Trax™ and Thom Calandraare headed to Colombia and Peru on Thursday. I’ll be kicking rocks at four or five companies in the two nations, including Colombian Mines Corp. (TSX: V.CMJ, Stock Forum) not far from my once long-ago home of Medellin in the department of Antioquia … as well as a separate and privately-held Antioquia property. Also on the radar are Guyana gold mine operator Adrian Hobkirk’s miniscule Caerus Resource (TSX: V.CA, Stock Forum) in Colombia, which has property options and interests in Norte de Santander department. And Cronus Resources, an Ari Sussman consolidator in Antioquia.
A 2009 success story in northern Colombia, Ventana Gold (TSX: T.VEN, Stock Forum), declined requests to open its property for a visit next week.
In Peru, I will be seeing Fortuna Silver Mines (TSX: V.FVI, Stock Forum) and Focus Ventures (TSX: T.VEN, Stock Forum), declined requests to open its property for a visit next week.
In Peru, I will be seeing Fortuna Silver Mines (TSX: V.FVI, Stock Forum) and Focus Ventures (TSX: V.FCV, Stock Forum), both of them part of the Goldgroup network of mines. Joining me will be several writers and analysts, at least one fund manager, Stanford U.-trained geologist Paul Zweng of Honolulu, assorted financiers and minerals mavens.
(Please see:Thom Calandra’s Stockhouse articles. Thom Calandra owns no shares of Ventana. Nor does he own Fortuna, Focus or CMJ. Thom does own each of the 11 Planetary Prospects in subscriber-supported Ticker Trax™. Thom also has informed Ticker Trax subscribers that he intends – but has yet to – purchase shares of Mexico-focused Animas Resources. He does own shares of Medoro.)
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Please see tickertrax.comto learn more about this wealth service and its 11 Planetary Prospects. Also, please see its breakout feature examinations of two Ghana gold prospectors, one Guyana prospector and gold producer and one molybdenum mine in British Columbia proceeding toward its own metals factory. Subscribers, please click here for password-secure Ticker Trax.
HOLDINGS:Thom’s stock holdings are listed for all Stockhouse members on www.Stockhouse.com under the “portfolio setting” for user TCALANDRA. It is public and free to view. He also owns recently minted gold and silver coins and shares of two private companies. Thom does not do private placements or accept payment in return for coverage. But you can buy him a cold beer in Cabo or a double Grey Goose in Toronto. Thom participates in select company-sponsored and company-paid tours of mining sites.
THOM CALANDRA of Ticker Traxhelps his audience find value in a quagmire of investment choices. Thom co-founded and was executive VP of news for CBS MarketWatch andMarketWatch.com. As the voice of Thom Calandra's StockWatch and The Calandra Report, Thom pegged $300-ounce gold as a long-term hold and dyed his hair blonde multiple times as gold surpassed $400, $500 and $600.
Ticker Trax™ is published by Stockgroup Media Inc. Ticker Trax is an information service for subscribers and neither Stockhouse nor Thom Calandra is a broker or an investment advisor. None of the information contained therein constitutes a recommendation by Mr. Calandra or Stockhouse/Stockgroup Media that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. Ticker Trax does not purport to tell or suggest the investment securities subscribers or readers should buy or sell for themselves. Subscribers and readers of Ticker Trax should conduct their own research and due diligence and obtain professional advice before making any investment decisions. Ticker Trax will not be liable for any loss or damage caused by a reader’s reliance on information obtained in the reports. Subscribers and readers are solely responsible for their own investment decisions. Opinions expressed in Ticker Trax are based on sources believed to be reliable and are written in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy or completeness. All information contained in Ticker Trax should be independently verified. The