analyst reportwww.maybachfinancial.com
X TERRA RESOURCES CORP (TSX-V:XT)
Shares of X-Terra soared on June 2 following news that the company has received a letter from the Ministry of Natural Resources to confirm that the application permits for the over 120,000 hectares X-Terra claimed have been received and will be processed in coming days. The area is in the heart of the Quebec Utica-Barnett-like shale natural gas play, a hot spot that is stirring strong enthusiasm among investors these days. X-Terra has been in mining properties acquisition and exploration business for years but hasn't achieved any significant results and failed to grow its stock price. The company currently has three exploration projects, two of which (Villedieu and Lindsay properties ) were acquired just recently. As all are at initial exploration stage, there is low visibility in the potential of its assets. Maybe by getting into shale gas play, the company could finally see some light at the end of tunnel, but that remains to be seen.
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Maybach released report also for JAG Mines (JML)