Bayfield Ventures Corp BYVVF

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Bayfield Ventures Corp
Symbol
C : BYV
Shares Issued
41,517,324
Close 2010-12-31
C$ 0.84
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Int'l Speculator refreshes Bayfield Ventures buy

2010-12-31 19:36 ET - In the News


The International Speculator in its Dec. 1, 2010, issue, refreshes its buy of Bayfield Ventures Corp. at 79 cents, officially, "Buy on weakness." The newsletter said buy in the Sept. 1, 2010, issue, at 55 cents. Assuming an investment of $1,000, the investment is worth $1,422. The writer goes over the press release and says the stock -- which had an intraday peak of $1.38 in September -- is down despite the discovery of more gold on its Burns block. Bayfield's main play, the Burns block, is adjacent to Rainy River Resources Ltd.'s ODM zone in Northwest Ontario. Rainy River has advanced a 5.1-million-ounce gold resource and drill results show the mineralization extends into Bayfield's property. He says that while the earlier market excitement has faded, work on the property is going well and the takeover potential remains strong. That means the story is better than it was in September. He notes there are some cheap warrants and options (12 cents) expiring this month. That could add more selling pressure on the stock; try to take advantage of it, he adds. First-time buyers should aim for 80 cents, while those looking for a second "tranche" should hold out for softer prices, say, 65 cents or less.