From D. Pescod's Late Edition 07/09/10and I quote:
It’s been an ugly time in the markets over the last couple of
months...as everyone already knows and it doesn’t matter
what sector you’ve been in, you’ve been hurt. Once again,
note to self: Sell in May and Go Away!
But one still wants to keep up with stories and there has
been one stock that has actually continued to go up and that
has been Great Quest Metals, a stock suggested here a while
ago by Jed Richardson, the former Sprott Securities mining
analyst and quarterback at Amazon. After checking out the
company, Richardson decided he liked it so much he actually
joined the board.
As to why the stock has been doing so well, he suggested
that they’ve added two properties to their concession in Mali
in an area that is now close to 800 sq. km in size. He also suggested
the importance of this is that the phosphate rock is so
accessible and of such a high grade, you can basically sprinkle
the material on agricultural land with no need for processing.
It’s good both to sell locally he suggests, as well as for export
down the road. The company is now waiting for their next
milestone...the permit, so they can start drilling to put a potential
size to the play and there are observers that suggest it
could be that big. Needless to say, he still likes the story and
is enjoying his position as the newest director to the company.