The latest educational video from Endeavour Silver "The Silver Market and Inflation"

The fine folks at Endeavour Silver and Storybubble Media have come out with another educational segment on silver. Enjoy!

TG Residential Value Properties TG-P.V started trading today

The latest Capital Pooled Company (CPC) TG Residential Value Properties started trading today. The broad strokes from what I understand is that they are looking to vend in a residential rental deal into it like a mini Boardwalk or a Canadian Apartment Reit.

Isaac Silbermann unleashes Part 3 on the Legend Oil and Gas LOGL P&D

Isaac Silbermann went above and beyond the call of duty to further expose the making of Legend Oil and Gas LOGL pump and dump. Although he does have a declared short position on the Company, he is acting like his own Muddy Waters and therefor he has a vested interest in exposing the whole story.

Isaac's dissection of the events running up to the present is well researched and documented in his Part 3, which should be read.

 http://seekingalpha.com/article/310681-legend-oil-greedy-insiders-are-the-only-ones-positioned-to-benefit-from-this-overvalued-overhyped-oil-stock

Isaac's in depth explanation can almost be used a template for the next nefarious stock promoters pump and dump.

It is unfortunate that James Vandeberg and Marshall Diamond-Goldberg can get away with this on the back of naive shareholders.

I look forward to Part 4

Trading CGA Gold CGA.TO

I have had my eye on CGA Gold and the nice trading graph. It looks like it can be an easy trader at the $2.30/share level. I threw an order in for a couple of thousand shares and will look to exit at the $2.80 level.

Where to bottom fish Saint Augustine Gold SAU.TO

Saint Augustine Gold SAU.TO continues to look weak going into year end and the bottom fishing price that keeps popping into my head is $0.25/share. When looking at the market there does not seem to be much support until $.25/share. I have put in an open order to buy 10000 share at a quarter.

Back into Silvermex SLX.TO at $0.47/share for a nickel trade

I picked up 7000 shares of Silvermex Resources SLX.TO today with the intention of trading the stock back out at $0.52/share. Silvermex is starting to show a nice 4-5 cent trading range here in the high $0.40/share low $0.50/share range.

Seeking Alpha further exposes the Legend Oil and Gas LOGL motives

Isaac Silbermann of Seeking Alpha has written a series of articles about Legend Oil and Gas LOGL and the past track record of Legend's present management. Isaac's article goes much deeper than my posts and exposes the past pump and dumps initiated by James Vandeberg and Marshall Diamond-Goldberg.

Part 1 can be read here: http://seekingalpha.com/article/309174-legend-oil-management-s-shady-past-suggests-trouble-ahead-part-1

And part 2 can be read here: http://seekingalpha.com/article/309245-legend-oil-management-s-shady-past-suggests-trouble-ahead-part-2

After watching the shares of Legend Oil and Gas plunge over the past few days, management of LOGL issued this news release. What I can't understand is who is Darvin Consultants SA and why would they out of the kindness of their hearts pay for the promotional material for Legend Oil and Gas?

We are issuing this press release in response to two defamatory reports written by Mr. Isaac Silbermann, a short seller, relating to the management and directors of Legend Oil and Gas Ltd.  These articles were published by SeekingAlpha.com and released on November 20 and November 21, 2011.
Mr. Silbermann admits, in both articles released by him to date, to being a short seller of Legend's stock. It appears as though Mr. Silbermann's intent through the generation of these inflammatory articles, is to instill investor panic and create a downward trend in the Company's stock price. A fall in the Company's stock price would result in personal gain for Mr. Silbermann because he is short the stock. 
We strongly and vigorously deny the allegations made by Mr. Silbermann in his articles.  Mr. Silbermann suggests that we have engaged in stock promotion activities.  Specifically, Mr. Silbermann cited three advertising articles written by James Rapholz, Eric Dany, Don McShane, which were paid for by Darvin Consult SA.  Neither of our officers and directors, Mr. Marshall Diamond-Goldberg and Mr. James Vandeberg, nor anyone else acting on our behalf hired or paid for any such stock promotion articles (including these three specific articles), nor do we know or have any relationship, directly or indirectly with Darvin Consult SA , James Rapholz, Eric Dany, or Don McShane.
Legend management has been involved with numerous companies over the past 30 years.  Our officers and directors have never participated in any paid-for reports or promotional items for any companies they are currently, or have been associated with, and give no credence to Mr. Silbermann's inferences whatsoever. Management considers all information written in Mr. Silbermann's articles to be inferences only and believes current and future articles are written for his own personal benefit and with those he may be associated.
Most importantly, Mr. Silbermann fails to present information regarding the fundamentals of Legend Oil and Gas in his articles to date. Legend is executing its business plan and continues to work toward providing value for its shareholders through exploration, exploitation and acquisition in the oil and gas industry.
As we previously reported, on October 20, 2011, Legend closed the acquisition of producing and non-producing oil and gas assets from International Sovereign Energy Corp. ("Sovereign").  The acquisition was closed in Legend's wholly owned subsidiary, Legend Energy Canada Ltd.  Combined with the production from Legend's US assets in the state of Kansas, total production at closing was over 300 BOE/d (barrels of oil equivalent with gas converted at 6:1).  Within the next several days, we will be filing a Current Report on Form 8-K with the SEC to provide pro forma financial statement disclosures for this acquisition.
In support of the development and management of the Canadian assets, Legend has set up a Canadian office in Calgary, Alberta and has hired a petroleum engineer in the position of Manager of Engineering and a Controller to manage the day to day operations of these acquired assets.  It is the intention of Legend to have the Canadian and US assets managed by the Calgary based staff in support of the head office in Seattle, Washington.
Marshall Diamond-Goldberg, President of Legend stated, "The acquisition of the Sovereign assets, coupled with the recent drilling success we have had in Kansas, moves Legend from a start-up E&P company to a functional energy company with a significant inventory of drilling opportunities, a large amount of un-developed acreage to assess for additional exploration and development, complimented by an increased staff with which to administer these and future assets.  Having grown the company from zero production to over 300 BOE/d in less than one year, with the potential to increase that production significantly over the next few years, is a major positive for all Legend shareholders and demonstrates management's commitment and ability to enhance shareholder value through organic growth rather than by promotion as suggested by the short seller's articles, who has personal profit as the motive to knock down our stock price."

 Isaac Silbermann is working on part 3 of the Legend Oil and Gas story and I look forward to reading it.

Paget Minerals PGS adds another property

Paget Minerals added another property to the quiver, it might be worthwhile trying to bottom fish this deal around the $0.07/share mark.

Northern Superior Resources Inc. has signed an option agreement with Paget Minerals Corp. granting Paget an option to acquire a 50-per-cent interest in the company's Lamarck Creek gold property, west-central Quebec.
To exercise the option, Paget must finance expenditures on the property of not less than, in total, $1.32-million, as follows:

• One hundred twenty thousand dollars on or before Dec. 31, 2011;
• Six hundred thousand dollars on or before Dec. 31, 2012;
• Six hundred thousand dollars on or before Dec. 31, 2013.

The initial expenditure is committed. The remaining expenditures are not committed, however Paget must incur the $600,000 amounts set forth before the dates referenced to maintain the option. Paget has the right to accelerate expenditures to earn-in. Northern Superior will be the operator of the project during the option period.
Dr. T.F. Morris, president and chief executive officer of Northern Superior, commented: "We are pleased to have signed this option agreement for the Lamarck Creek gold property with Paget. With Paget's backing, Northern Superior looks forward to exploring this promising gold property located in the heart of the Chibougamou gold district."
Diamond drilling will start immediately on one of the key structures identified from the property's airborne geophysical survey.

Sold the balance of my Cap-Ex Ventures CEV.V today

I managed to sell the balance of Cap-Ex Resources today at $1.20 and I am completely out of this deal. I also managed to take a bit of profits from my St. Augustine Gold yesterday at $0.40 /share and I am back on the bid at $0.32/share.

I am currently bottom fishing Royce Resources ROY-H.V at $0.04/share.

Teslin River Resources TLR.V firmed up on news regarding their option on the Frasergold property. The Company also hired a new IR firm to push the stock higher. Maybe the new IR guys can promote this story to the $0.20 range.

Teslin River Resources Corp. has signed a definitive agreement with Eureka Resources Inc. to acquire up to a 75-per-cent interest in the Frasergold project, located 100 kilometres east of Williams Lake in the Cariboo area of central British Columbia.
Under the terms of a binding letter of understanding, Teslin completed a preliminary soil geochemical program to evaluate the potential of extending the existing historic resource to the southeast. An audit of the historic resource leading to a preliminary economic assessment has now commenced and is to be completed during the first quarter of 2012. This work is being done by Roscoe Postle Associates Inc.
"We are very pleased to have completed the agreement with Eureka and are working diligently to complete the evaluation of soil sampling work recently completed at Frasergold," said John Burgess, president and chief executive officer of Teslin. "Frasergold brings a predevelopment project into our portfolio to complement our early stage exploration projects."
The Frasergold project has a prior NI 43-101-compliant resource completed in November, 2009 -- "Report on the 2007 and 2008 drill programs on the Frasergold project" prepared by K.V. Campbell and G.H. Giroux for Hawthorne Gold Corp. -- of 614,000 ounces of gold measured and indicated and 1,225,000 ounces of gold inferred at a cut-off of 0.30 gram per tonne gold. Historical expenditures on the property total $16-million, which include 450 drill holes totalling 50,000 metres and a 300-metre-long underground tunnel. The data from these various programs are well documented. Details of the resource are as displayed in the table.

Au cut-off 0.30 g/t                    
                                  Grade       Gold content    
Class          Million tonnes   Au (g/t)     Grams Au    Ounces Au

Measured                11.47      0.595    6,800,000      216,000
Indicated               22.61      0.540   12,200,000      392,000
M + I                   34.08      0.559   19,100,000      614,000
Inferred                75.31      0.507   38,100,000    1,225,000
Au cut-off 0.50 g/t                                                 

Measured                 5.60      0.812    4,500,000      145,000
Indicated                9.57      0.755    7,200,000      231,000
M + I                   15.17      0.776   11,800,000      329,000
Inferred                27.49      0.718   19,700,000      634,000

Note: The prior resource is a historical estimate and a qualified 
      person for the company has not done sufficient work to 
      classify the historical estimate as a current mineral resource. 
      As a result the historical estimate is not being treated as 
      a current mineral resource and is not to be relied upon.   

Under the terms of the agreement, Teslin has the right to earn a 51-per-cent interest by spending $3.55-million on the property and providing payments to Eureka totalling $200,000 over a three-year period. An additional 24-per-cent interest (totalling 75 per cent) can be earned by completing a feasibility study.
The company also announces that effective Nov. 21, 2011, it has engaged the services of Freeform Communications Inc. to provide investor relation services for the company thereby replacing Nicola Street Capital. The company would like to thank Nicola Street for its services.
Established in 1992, Freeform Communications Inc. is a full-service investor relations firm based in Vancouver, B.C. With over 40 years of combined experience, specializing in a full range of investor relation and capital market services, Freeform has represented a wide array of public and private clients and has assisted each in attaining their targeted goals including the raising of capital and broadening their shareholder base.
Under the terms of the company's agreement with Freeform, Freeform will be paid a fee of $8,500 per month over a three-month term. Freeform will be granted options to purchase 250,000 common shares of the company exercisable for a period of five years from the date of issuance at a price equal to the market price of the company's shares on Nov. 24, 2011. The options will vest over a 12-month period.
The agreement between the company and Freeform is automatically renewable for a one-year term and can be terminated by either party on 30 days written notice. The agreement between the company and Freeform and the grant of the options are subject to regulatory approval. Freeform does not currently have any interest, directly or indirectly, in the company or its securities, or any right or intent to acquire such an interest.

 

St. Augustine Gold SAU.TO completes oversubscribed financing

Just as my thoughts were on St. Augustine Gold that most of the buyers were lined up for this financing before the Company made the announcement. It looks like the insiders and a bunch of shareholders that were long at higher prices bought the stock.

Bottom fishing St. Augustine seems to be around the $0.35-$0.37/share. Since the Company announced the closing of the placement the market has firmed up.

Augustine Gold & Copper Ltd. (TSX: SAU.TO - News) ("St. Augustine" or the "Company") is pleased to report that further to the announcement dated 8 November 2011, it has completed a non-brokered, private placement raising C$12.18 million. The successful closing of this oversubscribed financing represents an important development for the Company as it provides sufficient funding to complete the bankable feasibility study for the King-king project.
The placement has been supported by a number of key existing shareholders in St. Augustine, including Pegasi Holding Limited ("Pegasi"), who have participated with C$2.6 million. Pegasi is the company through which the management of St. Augustine hold their ownership in the Company. In addition to existing shareholders, who subscribed for the majority of the placement, a number of long term resource focused investors out of Asia and Europe participated.
Andy Russell, President and CEO of St. Augustine stated "As previously disclosed, on 15 September 2011 we made a full and final settlement payment of US$10.25 million to Benguet Corporation finally resolving any question on title to the King-king project and clearing the way to the Company's full earn-in and development of the project. The successful completion of this placement has replenished our cash reserves such that we have sufficient funding to complete the bankable feasibility study." The Company has cash on hand of C$23,784,045 million as of the closing of this placement with an additional C$3,190,000 to be deposited at delivery of shares.
Andy Russell continued "It is extremely positive that we have been able to secure the support of both key existing shareholders as well as welcoming quality new shareholders into the Company. Management is also pleased to be able to participate and show their strong support and confidence in the King-king project. The coming months promise to be a very exciting time for the Company as we move towards completion of the bankable feasibility study."

Bought 10,000 shares of St. Augustine Gold SAU.TO

I picked up 10000 shares of St. Augustine Gold today at $0.36/share, $0.04/share cheaper than their proposed financing. St. Augustine announced a $0.40/share financing that was supposed to close on November 11th. My thoughts were that this financing was a little over priced and the opportunity would be to buy the stock below $0.40/share. The 52 week low for St. Augustine is $0.355/share so my purchase is at the lows for the year.

Silvermex SLX.TO trades through my open sell order

My Friday plan on buying Silvermex Resources at $0.46/share and selling it at $0.52/share worked like a charm and I sold my stock this morning. I will look to buy Silvermex again around $0.46/share again on any weakness and try to repeat.

Silvermex SLX.TO trade

I picked up 6000 shares of Silvermex Resources today at $0.46/share with the intention of selling at $0.52/share for a small trade. Silvermex is starting to trade in a more predictable trading range with 6-7 cent dips and peaks. The idea is to try a trade these swings. Silvermex has good liquidity on a daily basis which make buying and selling easy.

As with all orders I only use open orders on the sell side, unless I am trying to bottom fish a stock  with low liquidity.

St. Augustine Gold SAU.TO announces financing

A news release came out that Saint Augustine Gold is going to raise $12 million at $0.40/share with a half warrant exercisable at $0.75/share good for one year.

I initially got excited about this financing and was going to get my broker to get me in on it. Then I realized that the reward for the use of my money directly for their treasury just isn't good enough. I would be subject to a 4 month hold period and for that I get rewarded with a half warrant, good for 1 year exercisable at $0.75.

Why not just buy the stock at $0.39-$0.40 and skip the 4 month hold period. If there is any immediate upside within the 4 month hold period I would be able to sell. The half warrant at $0.75/share is just not enticing enough to make this private placement worth doing.


The short closing period indicates that they have got the buyers lined up so it will be interesting to see who takes the placement down, CGA Mining?

St. Augustine Gold and Copper Limited (TSX: SAU.TO - News) ("St. Augustine" or the "Company") announces a non-brokered private placement offering for gross proceeds of CDN$10,000,000 to CDN$12,000,000 (the "Unit Offering") pursuant to the issue of up to 30,000,000 units of the Company ("Units") at a price of $0.40 per Unit. Each Unit will be comprised of one common share in the capital of the Company (each a "Common Share") and one-half of one Common Share purchase warrant (the "Warrants"). Each whole Warrant shall entitle the holder thereof to acquire one Common Share for one year following closing of the Unit Offering (the "Closing") for an exercise price of $0.75 per Common Share. The Offering is subject to approval by the TSX and applicable securities legislation.
The net proceeds of the Unit Offering will be used for advancing the company's King-king project in the Philippines and for working capital and general corporate purposes.
The Offering will be presented by way of private placement via a subscription agreement to accredited investors in all provinces of Canada and in other eligible foreign jurisdictions pursuant to applicable private placement exemptions under applicable securities laws in such jurisdictions. Insiders of St. Augustine may, subject to regulatory approval, participate in the Offering.
The closing of the Offering is expected to occur on or before November 11, 2011, and is subject to approval of the TSX. The Common Shares and Warrants underlying the Units will be subject to a four-month hold period from closing.

Taking profits on Americas Petrogas BOE.V

With Americas Petrogas massive upside volume the last few days I had take some money off the table. I have been long this Company since $0.20/share and selling at $2.52 and $2.37 has represented over 1100% return. I decided to sell 3000 of my remaining 5000 shares.

There seems to be lots of back ground noise on default in Europe with Italy at the forefront. So I feel it is better to pull money off the table today. I still like Americas Petrogas and will look to repurchase in the event of a major pullback.

Byron Capital says "Buy Americas Petrogas BOE.V"

Americas Petrogas is trading up on Byron Capital's $4.40 call on Americas Petrogas. I have not seen the 20 page report, but here is what I have so far.

AMERICAS PETROGAS INC. ("BOE-V") - Byron Capital Markets Initiates Americas Petrogas - At "Speculative Buy" With C$4.40 Target Price

Byron Capital Markets is pleased to announce that it has initiated coverage today on Americas Petrogas Inc. with a Speculative Buy rating and a target price of $4.40.

In this 20-page research report, energy analyst Guy Gordon gives a comprehensive overview of the company and its highly attractive portfolio of conventional and unconventional oil and gas assets, including an interest in over 2 million acres of land in the prospective Neuquen Basin in Argentina.

This report further exemplifies Byron Capital Markets' continuing commitment to research and, in particular, its ongoing efforts in the energy sector.

TSX Venture closing price for BOE-V

Friday news dump: Silvermex Resources SLX.TO

Silvermex Resources released some drill results yesterday, the full news release can be read here.

Highlights of the news which is to long to repost on this blog.

The La Guitarra mine is divided into three sectors: the Northwest or Los Angeles Zone, the Central or La Cruz Zone and the Southwest Zone, referred to as San Rafael. Drilling at San Rafael focused on delineating the downward continuation of the mineralized zones currently in production as well as exploration along strike and at depth. Highlights include hole LGS-10, which intersected 1.71 g/t Au, 509.1 g/t Ag over 2.00 m, LGS-16, intersecting 2.32 g/t Au, 476.1 g/t Ag over 1.10 m, and LGS-17, intersecting 1.09 g/t Au, 406.2 g/t Ag over 2.20 m. All widths are true widths.

Although a producing silver mining company, shares of Silvermex continues on a downward slope while its piers have recovered from the October lows. I would assume that there is a continued pressure due to the outstanding warrants that are being exercised and sold into the market. Look for Silvermex to retest the lows around $0.40/share again by year end.

Friday news dump: Stoneshield Capital STS.V

Another news release from Wednesday states that Stoneshield Capital STS.V did not get their full geological work done over the summer on their Geldenhoof property. With winter nipping at the heels on this property I would assume the balance of geological mapping etc. will be completed in the spring/summer 2012.

Although I have not contacted the Company for an update I would assume that we would be looking a late 2012 drill program for this property.

I would also assume that Stoneshield will now turn their focus on the Goldtooth property in California and the El Mercado property in Colombia.

Stoneshield Capital Corp. has received final assay results from its 2011 exploration program at the Geldenhoof property located four kilometres east of the Blackwater epithermal gold-silver project now owned by New Gold Inc.
Geochemical sampling at Geldenhoof has outlined a series of zinc, copper, silver and gold anomalies in soils situated over the northern half of the tenure. These soil anomalies exhibit a northwesterly fabric, suggesting the potential for multiple feeder structures in the area. Zones of silicification and quartz-pyrite vein stockworks were observed at the southern margins of the soil grid. Due to the overcommitted schedules of Stoneshield's geologic consultants during the 2011 field season, no geologic prospecting activities were performed within this anomalous soil grid. Follow-up work including geological mapping and rock sampling is required to determine the significance of these anomalies and trends.
The 2011 exploration program comprises primarily of a 478-sample geochemical soil survey that covered approximately two-thirds of the property. Zinc/copper/silver/gold/lead samples assayed up to 190 parts per million Zn, 188.74 ppm Cu, 27.58 ppm Ag, 65.1 parts per million Au and 14.4 ppm Pb, respectively. The samples were collected from a grid with lines spaced at 200 metres with samples collected at 100-metre intervals along those lines. Soil samples were sieved to minus 80 mesh and analyzed by Acme Labs for gold using ICP-MS with aqua regia digestion and for 55 elements using Ultratrace ICP-MS with four-acid digestion. Acme Labs quality assurance/quality control consisted of 5-per-cent pulp duplicates, 5-per-cent blanks and 10-per-cent standards. Additional QA/QC was not performed by Stoneshield.
The company's consultants have been engaged to further compile and review all relevant exploration data, and to prepare an NI 43-101-compliant technical report. A recommendation for further work is expected in the anomalous areas, including more detailed geochemical sampling and a program of geophysical surveys.
The Geldenhoof property is situated in an area of volcanic and sedimentary rocks of middle Mesozoic age intruded by Late Cretaceous age and younger granitic intrusions. The presence of a strong geophysical magnetic high directly adjacent to the area of anomalous silver, gold and copper in soils suggests the presence of an intrusive body in the subsurface. Much of the claim block is covered by deposits of unconsolidated gravels and glacial tills that mask the underlying geological features. Therefore, further exploration should include more detailed geochemical and geophysical surveys.

I checked Sedar today and reviewed Stoneshields cash on hand and burn rate. On June 30 2011 Stoneshield had $534,000 in cash and a quarterly burn rate of $168,000 which leave the Company with about 9 months operating capital. At some point Management will have to come back to the financing well.

On that note I have opted to sell 32,000 free trading Stoneshield shares today. I have put in a bottom fishing bid at $0.07/share for year end. I still have 40,000 shares from the $0.175 private placement and 80,000 warrants with an exercise price of $0.25/share.

At this point all bets are probably on the El Mercado property in Colombia as Colombia seems to be the news hot spot for junior mining companies.

Friday news dump: Caza Gold CZY.V

Last Wednesday Caza Gold released that they will begin drilling their Los Andes Project in Nicaragua somewhere in the new year. I would expect some continued tax loss selling to retest the 52 week lows before the drill starts turning in January and we get some speculative buying.

Caza Gold Corp. has identified three drill target areas at the Los Andes high-sulphidation gold property in Nicaragua for testing by a phase 1 drilling program.
Caza Gold is very encouraged by the results of its 2011 exploration program at the Los Andes property in Nicaragua. Detailed mapping and surface sampling have identified three top-priority drill targets, Cerro Quisaltepe, Pedregal and El Cacao. Drilling is planned to begin in January of 2012. Drill access roads have been planned and the surface access is being finalized. Approximately six kilometres of road construction is scheduled to begin in November once the heavy rains have ended. The roads are planned to cut the central portion of the 16-kilometre-long alteration system at Los Andes and will provide better access and new exposures through some covered areas, which will add to mapping and sampling information.
Drill targets have been defined based on rock chip geochemistry, alteration mineralogy and fault structures, which are associated with altered and mineralized breccia bodies. These surface features are interpreted to indicate leakage from mineralized hydrothermal cells at depth, which will be targeted by the drilling program. Alteration is zoned around the breccias and the larger fault zones. Higher-temperature alteration assemblages of silica and natroalunite are surrounded by lower-temperature advanced argillic, argillic and an outermost propyllitic alteration zone. Many of the silicified zones have vuggy or sugary textures, which indicate a strong hydrothermal system, with the nearly complete replacement of the original volcanic rocks. Mapping has not defined the limits of the alteration system and currently the argillic assemblage is more than 16 kilometres long and up to 10 kilometres wide, covering more than 50 square kilometres.
Gold values are strongly anomalous in the Quisaltepe area and are closely associated with the natroalunite-silica and advanced argillic zones of alteration, breccia bodies, large fault zones and quartz monzonite dikes. At least 25 breccia bodies have been mapped in the Quisaltepe area. The Quisaltepe target area is at least 2.5 kilometres long and the main caldera-bounding ring-fault-structural zone is at least a hundred metres wide. Background gold values are less than 0.005 gram per tonne, but within the ring structure and crosscutting faults values increase significantly and range from 0.025 gram per tonne gold to 2.5 grams per tonne gold.
The Pedregal-El Cacao area hosts at least 15 breccia bodies along the main caldera ring-fault zone and related radial faults. Silver and gold anomalies occur along the fault and breccia zones which are at least three kilometres long and over 100 metres wide. Silver background levels are less than 0.2 gram per tonne but within the fault and advanced argillic zones values from two grams per tonne to 27.9 grams per tonne silver occur. Several silica-natroalunite centres have also been identified with surrounding advanced argillic and argillic alteration. The El Cacao target is to the northwest of Pedregal and occurs in a large structural wedge formed at the intersection of the central ring fault, a major north-trending fault and crosscutting radial faults. Gold and silver values are anomalous and range from 0.01 gram per tonne gold to 0.089 gram per tonne gold and two grams per tonne silver to 13 grams per tonne silver. The El Cacao target is approximately 1.7 kilometres from the Pedregal target and may be part of the same hydrothermal cell.
Alteration is continuous between all these targets and additional drill targets will be defined as detailed mapping continues.

Teslin River Resources TLR.V let the tax loss selling/buying begin

I threw a $0.035/share bid in yesterday on Teslin River Resources as a shareholder finally decided to capitulate their position in the company and sell it down to $0.035/share. Yesterdays capitulation was for a total of 1.4 million shares.

Today I got a fill on the balance of this tax loss sale as Teslin River Resources has traded 710,000 shares today filling in all the bids at $0.035/share.

Today's purchase leaves me with a position of 69,500 share at a cost of $0.06/share.

These types of purchases are typical of the tax loss selling that its the Venture Exchange from November through to December every year. Purchasing shares at $0.035/share is cheaper than the insiders can issue shares to themselves, as the minimum share issuance in a private placement is $0.05/share.

I missed out on the Royce Resource selling down to the $0.04/share level but there might still be a chance to purchase stock down there by year end.