Lawrence Roulston picks up coverage of Cap-Ex CEV.V

I found this little tidbit in my in box today on Cap-Ex Ventures, it looks like Lawrence Roulston likes the potential for Cap-Ex and his write up in his Resource Opportunities web page should get you excited. Click here to provide you with a little weekend reading.

Here is a few little excerpts of his article to tease you with.

Lawrence Roulston recently introduced his subscribers to a new iron ore company located in the revitalized Labrador Trough, noting that “in the near-term, I expect Cap-Ex Ventures to gain a lot more investor recognition for the enormous potential of its holdings.”

“Historic reports from the Iron Ore Company of Canada (IOC) state that Cap-Ex’s Block 103 property may contain hundreds of millions of tons of magnetite (iron ore that would be require processing).  The previous operator carried out a helicopter-borne magnetic survey over the property, which identified wide-spread areas of magnetic response, including the most intense magnetic readings in the Labrador belt.”

“After closing their recent financing, the company has ample cash with which to carry out and aggressive exploration and development program.  The management team has the skill and experience to move these projects ahead.  Building on extensive work that has already been carried out on the Cap-Ex properties, this company should be able to quickly advance the projects and add shareholder value.”

 I like Cap-Ex Ventures from the get go and even Lawrence's article gets me excited to buy more.

Added another 5500 shares ot my Royce position today.

Just as a note of disclosure I added another 5500 share of Royce Resources today at $0.28/share. I will probably add another 10000 shares in the near future.

3,000,000 share Canaccord cross in Royce Resources ROY-H.V

I woke up this morning to see that Royce Resources ROY-H.V has had a significant spike in volume. There was a 3 million share cross done through Canaccord this morning at $0.26/share.
Why blog about this event? I feel it is a small but significant clue as to the prospects of further price appreciation. Someone has opted to take a fairly large position, sometimes it is a part of the transition from old management to new management. Or it could be someone within Canaccord or close to the deal that wants a position.

Whatever the reason, the cross has put Royce Resources on more radar screens out there.

Landslide in Philipines turns the attention to Saint Augustine SAU.TO

Saint Augustine Copper and Gold has had some free public relations from a tragedy near their King King property in the Philippines. Recently, heavy rains have created landslides in an area that is being worked by small miners. Unfortunately there have been a few deaths as the small scale miners are usually working in makeshift conditions.
The story has been picked up by major news wires and with the news, awareness of Saint Augustine and the King King potential has been reported from a third party source. 

The news from Reuters is as follows:

(Reuters) - Rescuers resumed a search on Saturday for survivors of a landslide that swept through a shanty town in a mining area on the southern Philippine island of Mindanao, as the mayor revised down the death toll sharply.
In a 7 a.m. (2300 GMT Friday) situation report, the national disaster agency said three people were dead, 10 injured and 22 were missing after the landslide, which hit part of Kingking village in the early hours of Friday.
Pantukan Mayor Celso Sarenas said on Friday 27 bodies had been found after the landslide, but later told reporters by text message that he had been misinformed by health workers.
"So far 22 are reported missing but there could be more because there are some transients who arrived but did not register," he said.
Shanty towns have mushroomed around Kingking after a gold rush in the area nearly 20 years ago. Many of the mining operations are illegal and unregulated, and there are frequent accidents.
U.S-based, Canadian-listed mining firm St Augustine Gold & Copper Ltd and the Philippines' Nationwide Development Corp said the landslide happened in a remote area some distance away from where they were conducting environmental and engineering studies.
On its website, St Augustine said the Kingking prospect is one of the largest underdeveloped copper-gold deposits in the world. The government's mines bureau has listed Kingking as one of its priority investment projects.
"As quickly as it is feasible and safe, we will offer our assistance to help determine the cause of the incident," the companies said in a joint statement, also offering their assistance in search and rescue operations. "Tragically, landslides of this sort are common throughout this area due to unstable slopes and frequent heavy rains." Two years ago, a landslide in another part of the village killed more than 20 people, including some children. Residents had been ordered to relocate due to the instability of the land and risk of landslides.
The Philippines sits on an estimated $1 trillion untapped mineral deposits, but has only targeted to attract $1 billion in mining investment this year.

Since the news Saint Augustine has had a bump in their share price, I must add that Saint Augustine had reached a very over sold situation this past week and a bump in price was inevitable, the news help draw attention to the play.

Saint Augustine had this further news release to add:

St. Augustine Gold and Copper Ltd. has had developments at the King-king project site. Early in the morning of April 22 (approximately 2:30 a.m., Philippine Time), a large landslide to the north of Nadecor/St. Augustine operational area on King-king occurred. At this early stage, St. Augustine management understands that a village of unauthorized and unregulated miners, known as small-scale miners, on the side of the mountain was impacted. At this time, several fatalities have been reported, other individuals have been rescued with injuries, and still an unknown number of missing miners and family members remain to be accounted for. These activities and this event are not associated with Nadecor and St. Augustine exploration and field studies.
Heavy rainstorms are common in this area, and additional landslides on the public road have hampered access to the slide area. The Municipality of Pantukan has taken the lead on the rescue operation in conjunction with local police and military. At the request of Pantukan Mayor Celso Sarenas, St. Augustine and Nadecor employees and equipment have been marshalled to assist the municipality with the rescue and recovery effort. St. Augustine equipment was essential in reopening the public road which allowed rescue activities to be expedited.
St. Augustine management continues to be in direct communication with the mayor's office and has offered assistance as may be required. St. Augustine maintains members of management at Pantukan and they are staying current with each aspect of the rescue operation.
Management understands that the Armed Forces of the Philippines will be bringing a K-9 platoon, a medical team with ambulances and a platoon of soldiers to assist with rescue and recovery. Several helicopters are being utilized and are making use of the helipad recently constructed by St. Augustine as part of their rescue and recovery operational plan.
Continuing concern
The missing were mostly unauthorized and unregulated gold miners and their families who have long been warned to stay away from the landslide-prone area. Authorities have closed some of the tunnels to discourage illegal mining. As relayed by Mr. Serenas in a Friday Associated Press release, "We have warned them (unauthorized small miners) repeatedly of the danger there but they wouldn't listen."
The Nadecor/St. Augustine operations currently have five operating diamond drill rigs and one reverse circulation rig on the King-king tenement area along with associated road maintenance and drill support equipment. These operations are in support of resource infill drilling, metallurgical, environmental and geotechnical studies for the bankable feasibility study of the King-king deposit. Nadecor/St. Augustine efforts have taken precautions to mitigate any chance that drill access road building and maintenance would cause a slide such as this. The current landslide event near the King-king exploration program is unrelated to current activities. St. Augustine does not believe its areas of operations are in any danger of slides at this time and activities continue on schedule.
As a result of this event, recent small slides in which loss of life occurred, as well as the 2009 event in which 29 lives were lost, Nadecor and St. Augustine will be accelerating the King-king environmental geohazards study so that the preliminary findings can be presented to Mr. Serenas and Compostela Valley Province Governor Uy for further consideration about the safety of the populace. St. Augustine believes that this area is very hazardous area for a population to live. Clyde Gillespie, director of environmental and permitting for St. Augustine, states: "People and families should not be living in this area. Our recent experience combined with past instances points to the fact that this type of tragedy will continue to occur."
The development of the King-king project will provide a sustainable alternative job opportunity, safer work environment and environmentally sound alternative to the small-scale mining activities of today for the community of Pantukan and the Compostela Valley province.
Management and personnel of both Nadecor and St. Augustine express their sympathy to the affected populace who are experiencing losses in the landslide and remain vigilant in providing whatever assistance may be necessary.

It would seem to me that the local authorities would probably like to see this project become developed and try to mitigate tragedies like this recent event.

Early Warning Report for Royce Resources ROY.H-V

I noticed Gordon Keep the CFO of Royce Resources has filed an Early Warning Report acquiring an additional 7,435,544 more shares bringing hit total to 14,667,000. I looks to me like these are the shares that where issued on November 10, 2010 to the old president Robert Hodgkinson for outstanding debt.

Royce Resources Corp. chief financial officer Gordon Keep has acquired 7,435,544 common shares of the company. The company has been advised that Mr. Keep and related entities now hold 14,117,000 common shares, representing 15.19 per cent of the issued and outstanding shares of the company, and 14,667,000 common shares, representing 15.69 per cent, on a partially diluted basis, assuming the exercise of all options and warrants held by Mr. Keep and related entities.

I always take these Early Warning Reports as a very good sign going forward.

I added another 10,000 shares this morning at $0.27/share as Royce is a hard stock to bid for. 

Saint Augustine SAU.TO update

In case you have not seen this news on Saint Augustine , the Company provided some guidance today. This is generally pretty boring stuff and not the sizzle that pumps the shares higher. All companies eventually have to do a pre feasibility study. Once the feasibility study is complete the Company will decide to go into production, but they need the feasibility study to tap the market for more money.

Augustine Gold and Copper Limited announces King-king project key milestones to be completed during the next twelve months. Milestones will include:

 

--  Preliminary Economic Assessment; Q3 2011
--  Application for Declaration of Mine Project Feasibility; Q1 2012
--  Application for Environmental Compliance Certificate; Q1 2012
--  Feasibility Study; Q2 2012

The feasibility contractor team has been engaged and actively working over the past four months. The Company anticipates completing the King-king Feasibility Study in Q2 2012. The feasibility team is composed of the following internationally recognized leaders:
M3 Engineering and Technology (Tucson, AZ), the lead engineering contractor, will also be the primary author of the Feasibility Study. M3 is noted for the design and construction of similar large tonnage copper-gold concentrators and infrastructure.
AMEC Engineering (Brisbane, Australia, Denver, CO) will complete additional elements of the Feasibility Study, including process flows, tailings, and materials management.
Independent Mining Consultants (Tucson, AZ) is responsible for mine design and mineral resource estimates.
AATA International Inc. (Denver, CO), a social, environmental, and permitting firm, in conjunction with the Philippine firm Environmental Counselors, Inc., (ECI), will consult and oversee all aspects of permitting the King-king project. AATA will also prepare an International Social and Environmental Impact Assessment (I-SEIA) to meet International Finance Corporation (IFC) standards.
ABOUT ST. AUGUSTINE GOLD AND COPPER LIMITED
St. Augustine is a U.S. based mining company whose main focus is to commercially develop the King-king property located in the Philippines. The Company has an exclusive 60% earn-in option in the King-king Project. St. Augustine's ticker symbol is "SAU" on the Toronto Stock Exchange (TSX).
King-king is a gold-rich, copper-gold porphyry deposit located on the Philippine island of Mindanao, approximately 92 km NW and across the coast from the industrialized city of Davao, and 13 km inland from the town of Pantukan.
The project has entered the feasibility stage of development (social, environmental and engineering). King-king is one of the world's largest undeveloped, advanced stage copper-gold deposits with a measured and indicated copper-gold resource of 791.5 Mt at 0.28% Cu and 0.37 g/t Au (20.7 million equivalent gold ounces). The current mine plan would mine 100,000 tonnes of ore per day by open pit methods and process it through concentration by flotation producing copper concentrate containing gold for outside smelting. The mine has a low strip ratio (0.8:1 compared to an industry average of 2.5:1). Currently the deposit has 89,922 meters of drilling composed of 276 core and reverse circulation holes. The mine life is projected to be 22 years.
King-king is listed as a "top priority project" by the Philippine Mines and Geosciences Bureau.

Over 10,000 hits in six months

I would like to thank the readers of this blog for making this blog surpass a milestone of 10,000 hits. I started this six months ago not knowing who would read it or come across my ramblings. Hopefully along the way you have made a buck or two.

Cheers

Dave

Royce Resources ROY-H.V a Frank Giustra Shell?

I got a tout from a friend of mine that is well connected in the mining circles that Royce Resources ROY-H.V is a shell company that Frank Giustra has an interest in. One indicator of greater things to come is management, their track record and what they bring to a shell company. Frank Giustra and Gordon Keep are well respected in the venture markets through their merchant bank called Endeavour Financial, now they are involved in Royce Resources.

Lets review a little history for Royce, which in hind sight the stock chart seems to confirm better days ahead.

First, the chart:

Pre November 2010 Royce was $0.04/share shell, the bump in November probably coincided with the initial discussions with Endeavour Financial.

Between November and the beginning of February any cheap stock below $0.10/share was probably mopped up by those who know better days are ahead.

The end of January it looks like there is deal to change the control of the shell and subsequently there is pop in the share price. Once the financing is announced in February Royce trades as high as $0.30/share.

Second, the news to support the chart.

According to the financial reports as of December 31, 2010 Royce had $11,000 in the bank but had converted its' debt to 7.4 million shares.

February 4th 2011, the Company announced a financing of 7,350,000 shares at $0.075/share for approximately $500,000.

February 12th, 2011 Royce announced the closing of the above financing.

Two weeks later on March 1st, 2011 there was a wholesale change in the Board of Directors. Gone was Robert Hodgkinson, Phillip Bretzloff and Charles Hodgkinson and in comes Geir Liland, Tom Shiffman and Julie Rennie. Gordon Keep was appointed Chief Financial Officer and Corporate Secretary.

Further down the news release: Royce entered into a mandate agreement with Endeavour Financial Limited to assist in financings and acquisitions in the resource sector.

Another interesting Sedar tidbit that I found inside Royce's recently filed Information Circular is that Enso Capital Management owns 10 million shares. Although I have to admit I know nothing about Enso Capital.

This is a buy and put away kind of stock, forget about it for a while and maybe pick away at it when you have some wins. Management might have something right away to vend in or the Management might wait until after the 4 month hold comes off the recent financing.

Today I opted to buy and put away for a later day at $0.225/share. I will heed my own advice and build a position in this early stage shell when I take some wins off the table. You heard about this one here first.

Paget Minerals PGS.V announces " Flagship Property"

Paget Minerals put news out this morning, acquiring what the President David Volkert a Flagship Property!
 I do not know much about the Iskut Belt play but with this news I will take a look at the surrounding plays listed in the news release.

Paget Minerals Corp. (TSX VENTURE:PGS - News; "Paget" or the "Company") today announced that it has signed an Option Agreement with Pembrook Mining Corp. ("Pembrook") to acquire a 100% interest in Pembrook's Ball Creek Copper-Gold-Molybdenum-Silver (Cu-Au-Mo-Ag) property in Northwestern British Columbia.The Ball Creek property comprises 144 claims, covers over 47,200 hectares in the Iskut Copper-Gold Belt of Northwestern B.C. and is central to three major mine development projects: Galore Creek (NovaGold/Teck Resources), Red Chris (Imperial Metals) and Schaft Creek (Copper Fox). Previous exploration has identified a number of highly prospective porphyry and epithermal targets situated within the large claim block, including four porphyry Cu-Au-Mo-Ag systems (Ball Creek, Mess Creek, North More and North Rainbow), and four epithermal Gold-Silver systems (Lower Rainbow, Upper Rainbow, Rojo Grande and HP). The Ball Creek porphyry is located 8 kilometres west of the new Highway 37 Northwest Transmission Line making it the most accessible porphyry system in the Iskut region.
The Option Agreement requires a minimum C$3,000,000 spending commitment over a maximum period of 48 months, which Paget intends to use to follow-up historical mapping, sampling and drilling and establish and complete new drilling programs focused on developing a resource. In addition, Paget will issue 5,000,000 shares to Pembrook subject to conditions of TSX approval. After exercise of the option, Paget will be obligated to make a payment of C$2,000,000 to Pembrook upon completion of a NI 43-101 compliant technical report defining a minimum one million ounce gold or gold equivalent indicated and inferred mineral resource; and pay a final C$2,000,000 to Pembrook upon completion of a positive feasibility study. Pembrook will retain a 2% Net Smelter Royalty, half of which may be purchased by Paget at any time for C$1,000,000. Pembrook is a non-arms-length party to Paget by virtue of its 16.5% present shareholding in Paget, and one common director. Upon issuance of the 5,000,000 shares, Pembrook's interest would increase to 21.9%.
David Volkert, President & CEO stated, "This flagship property transaction establishes Paget in the Iskut Belt and adds significant new potential to Paget's existing B.C. property portfolio. The Northwest Transmission Line, expected to be completed in late 2013, will add needed infrastructure to this area and improve the economics of future discoveries."

Cap-Ex CEV.V adds more iron ore properties

Cap-Ex has added to their land package in Labrador, it seems to me that these guys are doing everything right in building a decent mining company.

Cap-Ex Ventures Ltd. has entered into an agreement with Adriana Resources Inc. to acquire 100 per cent of two direct-shipping-ore (DSO) iron properties that adjoin the Cap-Ex block 103 property near Schefferville, Que.
The agreement calls for the company to purchase a 100-per-cent-right title and interest in and to Newfoundland and Labrador mineral licences 014855M and 014856M in exchange for a cash payment to Adriana of $500,000 and the issuance of 500,000 common shares of the company. The agreement also calls for the company to grant to Adriana, on closing, a 1-per-cent net smelter returns royalty on all production of iron ore or other products from the properties.

Shareholder update from Caza Gold

Saw this update from Caza Gold today and thought I would re post on this blog for readers that have not seen it yet.

Caza Gold Corp. has provided the following review of Caza's progress in the first quarter and its plans for the second quarter, 2011.
Q1 review

• Assay results from the rock sampling program at the Balleza-La Cienega project in Mexico effectively doubled the size of the Balleza gold target area.
• Caza's geological team identified several strong trace-element anomalies associated with high gold values and high-sulphidation alteration on the Los Andes gold property in Nicaragua.
• Management closed a non-brokered private placement equity financing of $8.15-million to complete the first phase of drilling on the Balleza project in Chihuahua, Mexico. Funds will also be used for work on the Los Andes property in Nicaragua in order to delineate drill targets and general working capital.
• Eleven new properties were staked in Nicaragua. These properties cover multiple large hydrothermal alteration zones, similar in size and nature to the high-sulphidation gold alteration system found on the Los Andes gold property.

In Q1, Caza was very encouraged by the initial assay results from its Balleza-La Cienega project at its Moris property in Chihauhau, Mexico. The Balleza gold target area is now over 1,200 metres long and up to 400 metres wide, which doubles the area of the previously known mineralized zone. A total of 310 samples from the Balleza zone has been collected by Caza, Exmin and Hochschild in recent years, and 134 of these samples assay higher than 0.3 gram per tonne Au and average 1.6 gpt gold.
Since the acquisition of the Los Andes high-sulphidation gold project in Nicaragua, several strong trace-element anomalies associated with high gold values have been identified. The high-sulphidation gold system is exposed on surface as an extensive alteration zone of hydrothermal vuggy quartz, pervasive silicification and alunite associated with highly anomalous gold, and trace-element anomalies in copper, molybdenum, bismuth, barium, selenium, tellurium, mercury, arsenic and antimony. The alteration zone covers at least a 45-square-kilometre area and measures over 12 kilometres long by up to six kilometres wide. It is similar in size, intensity and trace-element geochemistry to the alteration zones of world-class gold deposits such as Yanacocha and Pierina in Peru.
In addition, the company has identified 11 new properties covering multiple large hydrothermal alteration zones similar in size and nature to the high-sulphidation gold alteration system found on the Los Andes gold property. The new claims are strategically located within the central Nicaragua gold belt between the El Limon and La Libertad gold mines of B2 Gold.
Caza now holds approximately 100,000 hectares spanning a 77-kilometre length and 25-kilometre width within this newly identified high-sulphidation epithermal gold trend. Caza has commenced reconnaissance mapping and sampling of these alteration systems to prioritize them for detailed gold exploration. The alteration zones occur in the same Tertiary volcanic belt that hosts multiple epithermal precious metal deposits from North America, through Mexico and Central America, to the southern tip of South America.
Finally, Caza closed a non-brokered private placement equity financing of $8.15-million. The net proceeds of the unit private placement will be used to complete the first phase of drilling on the Balleza project in Chihuahua, Mexico. Funds will also be used to continue soil sampling, trenching and detailed mapping on the Los Andes property in Nicaragua in order to delineate drill targets, and for general working capital.
Q2 outlook
The outlook for Q2 will include phase 1 drilling programs at the Santiago and Balleza projects in Chihauhau, Mexico, a continuation of detailed mapping and sampling of the Los Andes property in Nicaragua, and further reconnaissance work on the newly acquired gold properties, also in Nicaragua.
At Santiago, sampling of the Cliff zone discovered a previously unidentified gold-bearing vein occurrence along the mineralized fault structure. The discovery of the high-grade vein outcrop 400 metres northeast of the Cliff zone is important as this extends the mineralized structure significantly. Previous sampling had identified the mineralized Road zone extension, 700 metres to the southwest of the Cliff zone. The overall mineralized structure and high-grade veins have now been identified in discontinuous surface sampling over 1.2 kilometres of strike length.
A drilling company has been contracted for the commencement of the first phase of drilling at Santiago which will also be supported by helicopter to complete approximately 2,000 metres testing the Cliff zone and the Road zone targets.
At Balleza, the first phase of drilling is approximately 3,000 metres to test the Balleza gold zone target. The Balleza gold target lies within the much larger Balleza-La Cienega district on the Moris property that covers a mineralized structure zone over seven kilometres long. The district hosts at least 14 historic mine workings and 30 additional mineralized zones discovered to date.
The Balleza project is part of the Moris property (16,209 hectares) located about 250 kilometres west of Chihuahua city. The property is situated within the Sierra Madre gold-silver belt, a prolific mineralized region with multiple gold-silver epithermal vein deposits, including the Moris (Hochschild), Ocampo (Gammon Lake), Pinos Altos (Agnico Eagle) and Dolores (Minefinders) mines.
In Nicaragua, work on the Los Andes project will continue to outline the most favourable host rocks and mineralized zones, and delineate the different alteration types and associated trace-element geochemical anomalies in order to prioritize targets for drilling later this year or early in 2012.
A further reconnaissance mapping and sampling program is under way on the 11 new high-sulphidation-type gold systems outside of the Los Andes property in order to prioritize the prospects for more detailed work in 2012.

Stoneshield gears up its' Investor Relation campaign

Looks like we have George Duggan of National Media Associates working for us along with Progressive IR to get the story out.

Stoneshield Capital Corp. has retained the Florida-based firm of National Media Associates (NMA) to conduct media awareness and investor relations programs on behalf of the company. Headed by George Duggan, NMA is a long-term media relations specialist in the natural resource and gold exploration sectors.
The company will pay NMA a monthly fee of $6,000 (U.S.) for the two-month term of the agreement and has the option to renew the agreement for an additional 10 months with a monthly fee of $8,000 (U.S.). Pursuant to the agreement, Stoneshield will also grant incentive stock options for 60,000 shares to principals of NMA, at an exercise price of 17.5 cents, for a period of three years. If the contract is extended after the first two months, an options for an additional 350,000 shares will be granted, priced at the then-market price and exercisable for a three-year term, subject to any required TSX Venture Exchange and shareholder approvals.

Lets see what these guys can do for us.

Oakham Capital over subscribed

My broker called me today and it looks like the 10000 shares of Oakham Capital that I want will be cut back. Oakham Capital is a new Capital Pooled Company that will soon be listed that I have mentioned in previous posts. Hopefully I can secure 5000 shares.

Cap-Ex Ventures CEV.V moves higher on iron ore additions

Cap-Ex Ventures is powering higher today on this news release of additional iron ore properties in Labrador.
At $1.53/share Cap-Ex has broken at its' 52 week high. I will have to wait for any pullbacks to buy more shares.

Cap-Ex Ventures Ltd. has entered into three separate agreements to acquire 100-per-cent interests in three strategic direct-shipping-ore (DSO) iron properties near Schefferville, Que. Cap-Ex has also staked additional claims near these properties.
These properties, together with the staked claims, cover an area of approximately 10,000 hectares. The company's land package in the Schefferville region now covers a total area exceeding 31,975 hectares, strategically positioned near railway and iron-ore plants. Please refer to the company's website for a detailed map of the properties and the region.
The company and Bedford Resource Partners Inc. have entered into an agreement dated the April 4, 2011, whereby the company will acquire a 100-per-cent right, title and interest in and to Newfoundland and Labrador mineral licence No. 018542M (Porky Lake property). Under the terms of the Porky Lake agreement, the company will pay $10,000 and issue 15,000 common shares. On closing of the Porky Lake agreement, the company will enter into a royalty agreement whereby Bedford (or its assignee) will retain a 1.5-per-cent royalty on the Porky Lake property.
The Porky Lake properties (018542M, 018897M, 018898M, 018899M) cover 6,400 hectares of the Sokoman iron formation and lie 50 kilometres northeast of Schefferville. Historic reports by Iron Ore of Canada (IOC) noted the Porky Lake properties contain abundant dark-blue heavy compact beds of hematite with no visible silica. There are two hematite beds about 90 metres thick with areas of over 30 metres of near-massive continuous blue hematite. Samples taken by IOC in 1954 averaged 56 per cent iron and 19 per cent insolubles. The hematite iron mineralization is fairly continuous over the entire 50-kilometre strike length.
The company, Alexander Duffitt and Paul Strong have entered into an agreement dated the April 4, 2011, whereby the company will acquire a 100-per-cent right, title and interest in and to Newfoundland and Labrador mineral licence No. 017142M (Wishart Lake claims). Under the terms of the agreement, the company will pay a total of $20,000 and issue, on escrow terms equivalent to those for Tier II value escrow shares, a total of 100,000 shares. Consideration for the purchase will be split equally between the vendors, with Mr. Duffitt and Mr. Strong each receiving $10,000 and 50,000 shares. On closing of the agreement, the company will enter into a royalty agreement whereby Mr. Duffitt and Mr. Strong will retain, collectively, a 2-per-cent royalty on the Wishart Lake claims.
The Wishart Lake claims are adjacent to the company's Redmond property mineral claim No. 18598M, which is seven kilometres south of Schefferville. The Wishart Lake claims will be referred to as part of the Redmond properties. The Redmond properties cover strategic ironstone stratigraphy of the Sokoman formation and the probable southeast extension of the key stratigraphic horizon that contains the high-grade shipping ores (DSO) hosted in the Sokoman formation. Cap-Ex's northern neighbour, Labrador Iron Mines Holdings Ltd., owns the main Redmond deposits, three to six kilometres northwest along strike, where approximately 35 million tonnes of DSO grading 52 per cent to 54 per cent Fe were mined during the 1970s and early 1980s.
The company and Darrin Hicks have entered into an agreement dated the April 3, 2011, whereby the company will acquire a 100-per-cent right, title and interest in and to Newfoundland and Labrador mineral licence No. 017130M (Elross claims). Under the terms of the agreement, the company will pay to Mr. Hicks $20,000 and issue to him, on escrow terms equivalent to those for Tier II value escrow shares, 100,000 common shares. On closing of the agreement, the company will enter into a royalty agreement whereby Mr. Hicks will retain a 2-per-cent royalty on the Elross claims.
The Elross claims are 30 kilometres northwest of Schefferville and are totally surrounded by claims held by Labrador Iron Mines Holdings and New Millennium Capital Corp. Iron-ore showings occur on the property along strike and about 1,100 metres southwest of the Timmins No. 1 deposit. Approximately 21 million tonnes grading 54 per cent to 55 per cent iron were produced from three of the Timmins deposits, which lie within a few kilometres of the Elross claims.

As I have posted earlier in the month, I have wanted to add to my Cap-Ex and Saint Augustine positions, I have added to Saint Augustine recently and any further wins in the market will be directed to expanding my Cap-Ex position.

Stoneshield Capital STS.V heating up

The last two trading sessions have been good for Stoneshield Capital, it looks like the market is getting wind of their proximity to Richfield Ventures RVC.V Blackwater property. Stonshield is my biggest position as far as leverage goes and the $0.055 upside today added around $8000 to the value of my portfolio.

Stoneshield has two proximity plays, the Geldenhoof Property near Richfield Ventures ($10.35/share) Blackwater discovery and their Risby Property that is adjacent to Western Copper Corporation WRC.TO ($3.47/share) Redstone copper/silver discovery.

On another note I have added more Saint Augustine SAU.TO today bringing my total up to 12,500 shares. I will continue to buy Saint Augustine below $1.00/share when ever possible.

Slam Exploration was sold at $0.15/share

As per my trade strategy, I wanted to get out of Slam Exploration once the news of their sulphide intersection was released. Although my original intent was to sell around the $0.18/share mark but the market on Slam just does not want to trade there.

I rolled some cash into Saint Augustine Gold SAU.TO at $0.89/share. It looks like Saint Augustine is starting to base here at the $0.90/share range. I had posted earlier in March that any turn over in my capital would be used to buy companies with more advanced projects like Saint Augustine or Cap-Ex Ventures.

I marked in the graph below the base that Saint Augustine is starting to form.

Stoneshield Capital STS.V becomes a Richfield Ventures RVC.V area play

Stoneshield Ventures STS.V is trading up today on the planned exploration of their Geldenhoof property that is within proximity of Richfield Ventures Blackwater property. New Gold NGD.T has offered $10.38/share to the shareholders of Richfield Ventures for the potential of the Blackwater property.

StoneShield Capital Corp. has provided shareholders with plans for exploration at the Geldenhoof gold exploration property located approximately 4km to the east of the Blackwater gold discovery property owned by Richfield Ventures Corp. On April 4th, 2011 Richfield announced it has agreed to a $10.38 per share equivalent buyout with New Gold Inc. StoneShield is eager to commence exploration at Geldenhoof to explore for gold drill targets on the property.
Geldenhoof Exploration Plans
Mineralization at the Blackwater discovery is closely associated with a magnetic high and IP chargeability high. From a British Colombia Geologic Survey ("BCGS") total residual magnetic field survey, a strong magnetic high of similar size to that at the Blackwater deposit is located within the northern portion of StoneShield's Geldenhoof claim block. This magnetic high is interpreted to represent either increased concentration of disseminated magnetitie, which may represent the presence of intrusive rocks or the presence of disseminated pyrrhotite mineralization. Intrusive rocks occur in small exposures on all sides of the Geldenhoof property and are believed to be the source of mineralization at Blackwater. Surficial glacial deposits conceal the bedrock in the area of the magnetic high at Geldenhoof. An additional magnetic high is located along the eastern margin of the property in an area of limited exposure.

StoneShield has outlined its Phase One exploration program for Geldenhoof and plans to commence work on the project in June. Phase One exploration will start with the search for outcropping bedrock in the claim block. Next, extensive MMI and/or conventional soil samples are to be collected. The total soil sample grid length will be at least 100km in length and over 2000 soil samples will be collected. Geologic samples and notes of rock formations and mineralized zones will also be taken.
Phase Two of exploration at Geldenhoof will be outlined following receipt of results from Phase One, and may include a ground magnetic survey and an IP survey to outline targets for a future drill program. Drilling would aim to test for possible bulk-tonnage gold mineralization at depth.
StoneShield is excited by the prospects at the Geldenhoof property in the Blackwater gold district. The Company plans to keep shareholders as up to date as possible with developments from spring/summer exploration.

Re adjusted my Slam Exploration SXL.V sell order

Slam Exploration released their results of their 320 meters of massive sulphide mineralization today. I had bought some shares at $0.135/share to make a trade, I have readjusted my sell side to $0.15/share.

It has become apparent that Slam Exploration has issued a staggering amount of cheap shares and warrants in the past that will handicap the share price going forward. These results would result in a higher share price if the structure of the Company was not so cheaply diluted.




I am sure the Company will try to promote their latest results but those efforts will be met by the sellers of the cheap stock. Once I am out of this position Slam Exploration will not warrant my attention again.

SLAM Exploration Ltd. (TSXV: SXL) (US-OTC: SLMXF) ("SLAM") is pleased to report a 145.5 m interval grading 16.90 g/t silver and 3.9% lead-zinc starting at a depth of 144 m in hole NC11-220 at its wholly owned  Nash Creek project in New Brunswick. Individual samples range up to 90.00 g/t silver and 15.50% lead-zinc over 1.5 m. These are included in a 309 m core interval from 117 m to 426 m grading 12.71 g/t silver and 2.30% lead-zinc. This broad zone also includes a 17.1 m interval from 252.0 m to 269.1 m grading 21.54 g/t silver and 4.58% lead-zinc beneath the NI43-101 compliant Nash Creek deposit.

The broad zone of silver-lead-zinc mineralization extending well beneath the Nash Creek deposit is open at depth and along strike and indicates significant potential to increase tonnage. The more significant assay results are summarized in the table below.

DDH	From m		To m		Length m		Silver g/t		Lead %		Zinc %		Lead + Zinc %
NC11-220	117.00		426.00		309.00		12.71		0.37		1.92		2.30
NC11-220	144.00		289.50		145.50		16.90		0.62		3.28		3.90
NC11-220	166.50		168.00		1.50		90.00		2.20		13.30		15.50
NC11-220	181.10		198.30		17.20		8.30		0.97		6.07		7.04
NC11-220	207.90		226.90		19.00		26.43		0.85		5.44		6.29
NC11-220	252.00		269.10		17.10		21.54		0.78		3.80		4.58
NC11-220	269.10		289.50		20.40		17.75		0.52		2.42		2.94

The assay results described are from drilled core intervals and may not represent true widths.

SLAM is very encouraged by these results. Broad intervals of silver, lead and zinc mineralization beneath the known deposit indicate potential for a much larger deposit. The Company is planning additional work designed to further expand the deposit in 2011.

DMS Testing: Results are pending from Dense Media Separation ("DMS") tests on core samples submitted to the RPC research facility. These tests may determine whether the Nash Creek ores can be upgraded with a DMS process prior to milling. Upon production, this process would effectively increase the grade going to mill, thereby reducing energy consumption and transportation costs as well as extending mine life.

Teslin River TLR. V merger update

Some good news on Teslin Resources TLR.V today, I doubt that the stock will be trading sub $0.10/share for very much longer. Once the drill bit starts turning I will look to exit my position around $0.20-$0.25/share.

The shareholders of Queensgate Resources Corporation have approved unanimously the merger of Queensgate with Teslin River Resources Corp. as described in the Teslin news release in Stockwatch dated Jan. 10, 2011.
The agreement proposes Teslin will issue one share for each outstanding share of Queensgate. The transaction does not constitute a reverse takeover and it is expected that Teslin will issue 15,938,203 shares.
Queensgate is a private company registered in Quebec. Through its 100-per-cent-owned subsidiary in Nevada, Queensgate owns 100 per cent of the Mustang property and the Morning Star property in the Walker Lane mineral trend in Nevada.
The transaction is subject to the approval of the TSX Venture Exchange.
Commenting on the transaction, John Icke, chairman of Teslin, stated: "We are very pleased to have concluded this transaction to acquire the projects owned by Queensgate in Nevada. Our technical experts believe they have great potential and we look forward to commencing our exploration programs later this year."
About Mustang
The Mustang property comprises 66 claims that are 100 per cent owned by Queensgate. Surface sampling on the Mustang property in 2008 included 11.92 grams per tonne gold and 74.1 g/t silver collected on an adjacent claim within 60 metres of the boundary. An eight-hole, 1,800-metre reverse circulation drilling program is planned for the property.
About Morning Star
The Morning Star property comprises 97 claims with Queensgate having mineral rights with a 3-per-cent NSR (net smelter royalty). A 40-line-kilometre IP survey identified two significant drill targets for which an eight-hole, 1,500-metre reverse circulation drilling program has been planned.
About Queensgate Resources Corporation
Queensgate Resources Corporation is a private company, founded in 2008, whose principal interest has been exploring and developing epithermal precious metal resource potential in Nevada. Queensgate is currently developing two properties, both having sufficient work to develop drilling programs for the 2011 drilling season. The acquisitions and work programs have been led by John Kerr, who has 40 years of expertise and experience in Nevada precious metal deposits. Mr. Kerr will continue to provide similar opportunities to the management team of Teslin.

Switching Amato Exploration AMT.V for Oakham Capital

I unloaded the worst position in my Tax Free Savings Account today, the idea was to switch one $0.10/share deal for another. I took a substantial haircut with Amato Exploration but I do not see much upside with their Gulf Jensen Prospect. Amato has really been a blight in my portfolio, although I heard management are going to try and run the share price higher, I have opted out.

I did manage to bring my cost down on Amato with a purchase down at the $0.085/share range but it was the shares at $0.50 that really hurt. I did manage to bring my cost base down to $0.27/share.

There is an old adage that says "your only as good as your last deal"  so going forward I will pass on any deals affiliated with Mel Reeves, Yannis Tsitos and Martin Carsky.

In total I have lost about $3000 on Amato but my game plan is to roll my cash into Oakham Capital, an up and coming Capital Pool Company to recoup my losses. Generally when CPC's hit the market, they tend to trade in the $0.20-$0.30/share range.