Today's Stockwatch ReportingWe all hope and wish Chuck will get his U2 diamond mine next year. As I said before, I harbour very good feelings about Chuck trying so hard to get it down despite the huge road block put up by the Atta First Nation. Good Luck to all Longs.
Chuck Fipke and Chad Ulansky's Metalex Ventures Ltd. (MTX) lost 1.5 cents to 5.5 cents on 131,000 shares. The company's stock has been flatlined near the 6.5-cent mark for the past four years and it may well remain there for another year: The window of opportunity for acquiring and shipping equipment and supplies to its big U2 kimberlite in Northern Ontario on a winter road is about to close for another year and Metalex has not yet arranged financing for its proposed 10,000-tonne bulk sample of the big but low-grade pipe. The test is needed to make the company's case that U2 is economic despite its low grade, thanks to a high diamond value.