one to watch
Kwantes says why to buy Aston Bay
2016-03-29 20:53 ET - In the News
James Kwantes, in the March 13, 2016, edition of Resource Opportunities, tells readers why to buy Aston Bay Holdings Ltd., recently 23.5 cents. This is the first time he has recommended the stock. Aston Bay recently signed a letter of intent to option out its Storm copper property in Nunavut to BHP Billiton, which can earn a 75-per-cent interest by spending at least $40-million on exploration, including $2.5-million within two years. Mr. Kwantes admires Aston Bay for being able to attract a major such as BHP. Their agreement comes about a year after a different major, Antofagasta, signed up to earn a 70-per-cent interest in Storm in December, 2014, but then walked away less than two months later, citing budget cuts. Aston Bay's chief executive officer, Benjamin Cox, told Mr. Kwantes at a recent conference that the company was disappointed at Antofagasta's departure, but is now looking forward to the prospect of resuming exploration with BHP. A definitive option agreement is expected next quarter. Mr. Kwantes concludes that the "value of a JV [joint venture] with the world's largest mining company -- and the number of entities that would be interested in Aston Bay's 25-per-cent stake -- makes this company one to watch."
Let The Drills Be Our Friends Traps7