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Bolero On Rare Front

Danny Deadlock Danny Deadlock, TickerTrax
0 Comments| January 6, 2011

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I) Cardero (TSX: T.CDU, Stock Forum; $1.99 / AMEX: CDY, Stock Forum ; $2.00) –

Featured Nov. 4 at $1.26.

Hi all. I updated Cardero last week, but for those of you who own it, keep an eye on International Towerhill (TSX: T.ITH, Stock Forum; $9.45). Cardero's exploration projects are deemed worthless by the market but the net value of cash and investments is now worth almost $1.90 per share.

Cardero’s shares of ITH (4.6 million worth $45 million) are doing well. Investors are missing this correlation. International Towerhill owns a very large low-grade gold deposit in Alaska. See:

II) Bolero Resources (TSX: V.BRU, Stock Forum; High of $0.58 since profiled to Ticker Trax subscribers) –

Featured: New

Shares Outstanding: 29 million
Resource Exposure: Gold and Rare Earths Elements (REEs)

Published to Ticker Trax subscribers at $0.49. Subscribe today to gain access to exclusive opportunities.

I am interested in Bolero for its very large land positions next to proven discoveries and for the diversification (exposure) to gold and rare earth elements. The gold properties are in northern B.C. neighbouring an important discovery by Imperial Metals; the other is in the Yukon, which has seen an exploration boom since spring.

I believe the gold projects hold significant potential, but I will follow up on those after their exploration advances. For now, I believe the shorter-term winter excitement will come from the rare earth properties.

Many of the rare earth equities have been doing well since summer ... so the good ones are tough to find without having run already. One TSX (Toronto) listing in particular (doing business in the U.S.) has helped draw attention to the entire sector. Rare Element Resources (TSX: V.RES, Stock Forum; $10.25) was at $2.25 in July and hit $14.25 in October.

Click to enlarge Another, Canadian International Minerals (TSX: V.CIN, Stock Forum; 64 cents), which neighbours Bolero’s properties, was at eight cents in September and gained 800 percent two months later after REE drill results.

"More than 90 per cent of the global supply of rare earth minerals is mined and processed in China. Beijing recently clamped down on exports, reducing quotas by 70 per cent for the second half of 2010. In September, China made political waves by blocking all rare earth exports to Japan. Legislation has been introduced in the U.S. Senate and House to increase investment and production of rare earths in the United States." [Globe and Mail in Canada]

Click to enlargeIn late 2009 an important REE discovery called Wicheeda was made in British Colombia. If you look at this map you will see BRU's massive land position (217,000 acres) in the immediate region (Bolero is the red, Wicheeda the purple and CIN the blue).

Bolero has flown across the entire area to identify drill locations and then followed with ground geochemistry. The results of that effort likely will be reported this month. With those results in hand and drill permits in place, Bolero anticipates drilling through the winter on anomalies identified (so far) on three separate locations.

Airborne radiometric responses are confirmed in areas with high REEs in soil samples. A second airborne anomaly of equal magnitude has now been silt sampled with assays pending.

Mackevoy Geosciences geologist David Turner, MSc, PGeo, stated: "The extensive land position taken by Bolero Resources in the Wicheeda-Carbo carbonatite camp of the Rocky Mountain rare element belt is significant because carbonatites often occur in clusters.”

Wicheeda might ... just might have the potential to exceed the output of Molycorp Mountain Pass, which for more than 40 years was North America's biggest supplier of REE's.

A few months ago I received this from Roger Steininger, Ph.D, who is a director of Bolero. I was asking him for feedback on how investors might identify economic grades for REE sampling or drill results.

You pose interesting questions, but there are no easy answers. The samples collected from the Bolero property are geochemical in nature and while they reflect areas of REE mineralization are not necessarily indicative of the grades in bedrock. This will come with drilling of the anomalies. The other aspect that is important in REE deposits is metallurgy. Good grades with poor recovery characteristics could render a deposit uneconomic, while lower grades with easy recoveries could be very profitable. At this point in the Bolero exploration program it is too early to determine the potential of the Wicheeda property. Having said that, we are getting a lot of encouragement from our geochemical and geophysical surveys and view the property as containing several high-quality targets that warrant further exploration.

The United States Geological Survey has published several recent articles on REE which are available on their we site. You might read those as a starting point.

Roger C. Steininger Ph.D.
Director, Bolero Resources Corp.


Click to enlargeBolero was quiet through summer but these past few months has benefited from rising interest in junior exploration stocks. It has consolidated in the 40-cent range since early October and now has good support in this range.

Given the dramatic run we saw with neighboring Canadian International Minerals (TSX: V.CIN, Stock Forum), any positive results from drilling or surface sampling should attract significant interest. Should the company be fortunate to hit anything similar to Wicheeda or CIN, the impact would be dramatic – given the fact Bolero has by far the largest land position in the district.

First, Bolero needs to sink some holes. That is expected to occur in early 2011, and it means that identifying these early can provide the greatest returns. Danny Deadlock owns 25,000 shares of Bolero.

Thom Calandra: Thank you, Danny.I was not aware of Bolero. On the “rare” front, as you know, I am looking at tantalum and tellurium. They’re not in the heavy rare-earth element list of 17, but they seem to be on the rise in the area of alloys used in solar panels, or with aluminum and in computer storage and other conductive and/or high-temperature conditions. I especially am enamored with tellurium and am looking at a British Columbia prospector, Golden Odyssey (TSX: V.GOE, Stock Forum), but do not own the shares. At any rate, what else to say? I am off to Nevada this weekend for one of two visits to gold properties. I am thrilled to be seeing some of our former Planetary Prospects reporting greater tonnages or grades (Candente Copper for one, which I own). As reported, I am selling a portion (about a quarter or so) of my holdings in several featured Ticker Trax companies whose shares reach targets I have disclosed several times in these issues. These include Candente Copper (TSX: T.DNT, Stock Forum) at its current price of $1.40, Great Basin Gold (TSX: T.GBG, Stock Forum) above $3.10 and Great Panther Silver (TSX: T.GPR, Stock Forum) above $2 Canadian. Commodities markets are accelerating … something we have been saying since September. I am hopeful that Avanti Mining (TSX: V.AVT, Stock Forum) will benefit from its years-long efforts to get the Kitsault molybdenum mine in B.C. running by 2013 or sooner. I own the shares and expect a feasibility study from Avanti in the next two weeks.I await the start of Panama exploratory drilling for Bellhaven Copper & Gold (BHV), whose stock I own and which was a featured research candidate (former Planetary Prospect) of this report. I am finding it difficult to locate truly cheap and valuable prospectors to visit. A few sub-$30 million ones, as we have discussed here, might include Golden Odyssey, Trueclaim Exploration (TSX: V.TRM, Stock Forum), Gold Standard Ventures (TSX: V.GV, Stock Forum) and Golden Phoenix (OTO:BB: GPXM , Stock Forum). I own none of these four. -- Thom

Please use the Stockhouse news wire to keep current. Please see the password-protected Ticker Trax Libraryfor two years of on-site and original research and reporting.

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For more, please visit our Ticker Trax Library.Ticker Trax started in November 2008. Also, please view Thom Calandra’s Stockhouse articles.

Ticker Trax™Please see to learn more. For an index of free Thom Calandra articles, please click here.For the password-protected Ticker Trax library, please Thom’s personal holdings are available for all to see on Stockhouse, the Canada publishing company, under the user name TCALANDRA. For an explanation of our research methods and disclosure procedures regarding Ticker Trax and our Stockhouse reports, please see: Stockhouse articles – Core Box Revealed. Companies whose site tours we attend for research purposes pay part or all of airfare and hotel.

Most photos by Thom Calandra. Thom’s holdings are listed for Stockhouse members at under the “portfolio setting” for user TCALANDRA. It is public and free to view. He discloses purchases and sales of covered companies in advance to his subscribers.

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Ticker Trax™ is published by Stockhouse Publishing Ltd. Ticker Trax is an information service for subscribers and neither Stockhouse nor Thom Calandra nor Danny Deadlock is a broker or an investment advisor. None of the information contained therein constitutes a recommendation by Mr. Calandra or Mr. Deadlock or Stockhouse that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. Ticker Trax does not purport to tell or suggest the investment securities subscribers or readers should buy or sell for themselves. Subscribers and readers of Ticker Trax should conduct their own research and due diligence and obtain professional advice before making any investment decisions. Ticker Trax will not be liable for any loss or damage caused by a reader’s reliance on information obtained in the reports. Subscribers and readers are solely responsible for their own investment decisions. Opinions expressed in Ticker Trax are based on sources believed to be reliable and are written in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy or completeness. All information contained in Ticker Trax should be independently verified. The editor and publisher are not responsible for errors or omissions or responsible for keeping information up to date or for correcting any past information. Ticker Trax and Thom Calandra and Danny Deadlock do not receive from any companies that may be mentioned in Ticker Trax. Some of those companies are advertisers or clients of Stockhouse, the publisher. Xtra-Gold Resources was at one time a preferred client of Stockhouse for investment relations, marketing and other commercial but not editorial services, which are never guaranteed. Any opinions expressed are subject to change without notice. Owners, employees and writers may hold positions in the securities that are discussed in Ticker Trax. PLEASE DO NOT EMAIL SEEKING PERSONALIZED INVESTMENT ADVICE. Copyright 2010 all rights reserved.

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