david pescod on PG
July 29, 2009
EVOLVING GOLD
(V-EVG)
$1.85 +0.36
EAST ASIA MINERALS
(V-EAS)
$1.56 +0.36
SELKIRK METALS
(V-SLK)
$0.12 n/c
We were wondering what had happened to the old rule
of thumb of the summer doldrums...so much for that worry
as a couple of bad days on the market make up for much of
the goodness and sweetness earlier in the month. Precipi-
tous drops in gold and oil in the last couple of days have
brought a taste of reality back. Still, there were a couple of
stories standing out—two of which are favourites of the
Coffin Brothers—Dave and Eric.
On screens today that were very red, their two favourite
mining exploration stories—Evolving Gold and East Asia Min-
erals, are both having party-time!
In the Hard Rock Analyst they posted, “East Asia has
delivered results from the first 2 holes at its Miwah project
in north Sumatra that test several hundred metres of the
western end of its main target. The two holes returned 57.1
metres at1.97 g/t gold, including 38.3 metres at 2.78 g/t
gold; and 158.0 metres at 1.71 g/t gold, including 66.0 me-
tres at 3.29 g/t gold – confirming the zone and that it has
large near surface areas of strong grade with which to kick
off a development. Now that the flow of drill results is un-
derway we expect the EAS market progress to continue.
Drilling is being planned to also test the new Miwah South
discovery area that is several hundred meters lower in ele-
vation than the original 1,200 metre long showings being
tested by these drill holes. Miwah South may well be out-
cropping at the “sweet spot” for bonanza grades on a sys-
tem wide basis, but at any rate its strong surface grades
are important additions to the project. Miwah project is
very likely to move into the “big deposit” category as drill-
ing proceeds to test the targets.”
They conclude their commentary this morning; “With
this in mind and stronger news flow getting underway we
are shifting our outlook for EAS up a notch to strong
speculative buy.”
That was from their commentary on their Special Deliv-
ery, pre market from this morning.
One of their other favorite stories of Evolving Gold was
also one of the few winners in the gold sector today and
once again on big volume as well.
Meanwhile, the world just doesn’t seem to want to give
you a perfect day these days as one of the stories way
back when the Coffin Brother had liked, Selkirk Minerals, it
looks like they are giving up on it.
East Asia Minerals
Evolving Gold
Selkirk Metals
Page 2
David Pescod 780-408-1750
Debbie Lewis 780-408-1748
Fax: 780-408-1501
They write, “Selkirk has announced a take-over bid by Imperial Metals (III-T; off 5 cents on 35,000 at $4.02) at 12
cents in either cash for equivalent shares. We are obviously disappointed by this and after some thought on the sub-
ject think taking the cash and the loss that comes with it makes the most sense.”
PREMIER GOLD MINES
(T-PG)
$2.70 +0.05
With oil down almost $4.00 today and gold getting clob-
bered in the last two days trading, it has been hard to find
much green on your screen. But as well as East Asia and
Evolving Gold have done, Premier Gold Mines today came
out with some pretty interesting drilling results on their
Hard Rock project in Northwestern Ontario. It’s an area,
according to press releases, of several past producing
mines that produced almost three million ounces of gold
between 1938 and 1968, so some positive drilling results
shouldn’t be a surprise.
Today they announce 17 grams of gold across 9.5 me-
tres which of course is exceptional grade over very sweet
distances. Needless to say, not all the results were that
favorable, but we will continue to follow the Premier Gold
story closely because there are many with expectations
that gold near year-end, could be at much higher levels
and Premier is still rumored to be a take-over target/
selling themselves.