Int'l Speculator refreshes Andina Minerals buy2009-04-23 19:23 ET - In the News
The International Speculatorin its April 1, 2009, issue refreshes its buy of Andina Minerals Inc.at $1.70, officially, "Watch for PP/Try stink bids." The newslettersaid buy on June 2, 2008, at $3.94, and on Dec. 3, 2008, at 74 cents.An investment of $1,000 for the two buys is well in the money at$2,701. The Speculator's writer begins by noting that Andina isdeveloping the Volcan gold project inChile's Maricunga copper-gold belt. The press releases tell him Andinahas hired MiconInternational as lead consultant for the company's preliminaryeconomic assessment work. He says the Micon move shows the company ismoving firmlyin the direction it needs to take to add shareholder value.The writer speaks highly of George Bee, Andina'snew chief executive officer, whom he sees as providing a "strong hand."Plus, the company's other recent appointments further point to Volcan'seventual development. He says Andina is nowone of the cheaper monster gold projects out there. However, becausethere has been such a painfully long period of transitionfrom pure exploration to mine development, Andina isalso highly vulnerable to the downside should there be anothercorrection in resources.