Prowling Baja ... money ... & a map
- Finance: Tom MacNeill (FNR)
- Mickey Fulp: On the road (PEZ)
- X-tra Gold: We have a map (XTGR)
LA PAZ, Mexico – Used to be, vacationing Californians made it down to Mexico’s Baja California starting this time of year. They’d pitch a tent along the peninsula. Or find any old hotel with a pool. Trailer parks were OK, too.
This Californian still sees the trailer parks, the tents, ratty hotels. But I got to tell you, Canadians seem to outnumber Golden State warriors two-to-one these days.
“Mexico, so many changes, at least in the 15 years I’ve been here.” That’s Mel Herdick, VP of exploration for Canada’s Pediment Gold (TSX T.PEZ , Stock Forum). He and I are doing the papaya/platanos thing today, early fruit salad – just before heading to the gold prospector’s San Antonio Project, about 30 kilometers east of this seaside town.
“I mean, women work now. They didn’t always. They like to spend money. And look, right there – all these SUVs and brand new 4 by 4s.”
That’s Mel. (Separated at birth: a leanbut gentleJohn Wayne -- without the cigs.) Mel was born in 1942, studied geology at Washington State U. and has worked a metric tonne of places in Mexico. Today, after more than a year of phone calls, he has managed to snag Mickey Fulp, an Albuquerque geologist who often appears on the speaking circuit, along with yours truly.
Mickey, Mel, Pediment’s heap leach artist Chris Babcock and I will take one of those brand new spanking 4 by 4s out across this lovely peninsula. I hope to report next week on Mickey’s methodology and Pediment’s looming promise here and in mainland Mexico. (Existing resource, more drill holes, geology … )
In the meantime, I spent part of this week snagging comments about how Canadian financings of gold and metals toddlers is – how shall we say this gently – proceeding much like it was in 2003, before the paper shredded.
Some of the aficionados say this time, (Is she really gonna do it this time/Is he really gonna do it this time?) – it … is … different.
“With regard to the general ability to raise funds for exploration,” Tom MacNeill tells me from Saskatoon, “as usual in this part of the cycle, there is lots of money for good projects and very little for the also rans.”
Mr. MacNeill, recently returned from Chile and the Middle East, runs 49 North Resource Fund (TSX: V.FNR, Stock Forum), a small merchant bank with a severely undervalued portfolio of securities under its Saskatchewan wing.
“I’m a bear market guy in that the early half of a commodities/exploration cycle is more lucrative and less risky than the latter. This is like the 1999-2004 period, before the retail guys and hedge funds sent valuations into the stratosphere.”
When Tom says that, the fiber-optic lines shiver. Translation: Don’t be carrying a hedge fund calling card when you call on Tom or his assistant, Andrea Davidson.
Tom says he believes with all his heart and synapses that there is “plenty of wealth accretion to be found here with very low risk.”
I’ll have comments next week from a singular and shiny financing of linked Canada/Idaho’s Planetary Prospect Premium Exploration (TSX: V.PEM, Stock Forum). I also might be in New York City next week, before returning to San Francisco Friday evening for a private and – one thinks – profitable evening with colleagues. You might not share the food, but you shall share the fortune, subscribers.
- BioCryst Pharmaceuticals: I have no intention of selling shares of peramivir maker BioCryst (NASDAQ: BCRX, Stock Forum) at any price below $25. This level keeps rising. I expect developments today (Friday) or early next week on the sale of antiviral agent peramivir to governments outside the USA and possibly to the World Health Organization.
X-tra oomph? Planetary Prospect X-tra Gold Resources (OTC: XTGR, Stock Forum) in Ghana just published a map linking drill holes with the science of GPS. I have it. If you want it. I am in the market for more shares at $1. Please ping me.
Questions about our 11 Planetary Prospects? Feel free to call or slog me: thom.calandra at stockhouse.com. Qualified investors: Those who want opportunities (new company) and data (a recent and promising green sheet and layout) for one or two opportunities in the areas of nickel and lithium, please shout. I think I see one way up there – and I have no financial interest in it.
(Also -- please see:Thom Calandra’s Stockhouse articles.)
(All photos by Thom Calandra … but what about the ones of Thom Calandra? Thom owns shares of all 11 Planetary Prospects. He also owns a small number of shares of FNR.)
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