Hello Valued Readers!
After I wrote in January the US $ strengthened another 2.5 cents to 1.262 on January 12th. That was our short term US $ high vs the Euro. Now we are sitting at 1.328, a six cent move in about 5 weeks. The currencies fluctuate on every piece of news that comes out of Europe and the US. Will the Euro survive? If it does will all the existing Euro nations still be using it or will countries like Greece exit?
Editorial Picks Update:
Passport Energy ( PPO CNSX ) was picked at .10 on April 5th, 2010, closed Friday @.175 High since pick: .40
Web Site: http://passportenergy.com/
News continues to flow. On January 26th they announced a $9 Million private placement.
"The net proceeds of the Offering will be used to fund continuing exploration and development activities at the Company's Hardy Bakken project."
On January 30th the company announced the successful drilling of its second horizontal Bakken well.
'A 26-stage fracture stimulation planned for the completion is scheduled for late February pending availability of the service crew.
"It's been very exciting to be able to move the company forward with the success of our first well with our partner American Eagle, stated Frank Port, Passport Energy's President. The partnership continues to develop its 2012 plan around Hardy Saskatchewan (North & South). This should be an unprecedented year of growth for the company."'
On February 1st the company announced its 51-101 reserves report for its Bakken Hardy Project in SE Saskatchewan. The information is available at Sedar.com if you search public company documents for Passport Energy, they are dated January 30th, 2012.
JUICY TIDBIT I EXTRAPOLATED:
On December 5th the company announced a 34 section farmin agreement with a large company that remained nameless.
Well if you had downloaded their corporate profile PDF before the announcement and looked at page #2 you would have seen this picture of land holdings in the area, click on it to see full size:
Notice all the pink is Crescent Point Land. Now look at the updated profile's second page:
Where did most of the Crescent Point land go? It was recolored Passport Land. This tells me the farmin agreement is with Crescent Point Energy ( CPG TSX ), currently trading $45+ per share with a market cap of $13 Billion.
How many CNSX companies get a farmin with a major that size?
Crescent Point just recently acquired Wild Stream for $610.9 million (Jan. 25th). SE Saskatchewan assets were gained. Then CPG announced buying Viewfield assets for $427 million (Feb. 16th) which is more SE Saskatchewan assets.
Now the stock is sitting in the .17 - .20 range and will stay there until the financing is completed. We all know financiers want as much stock as possible at the cheapest price. That is how it works. It would be nice if the company was trading at higher levels but I have heard there have been very few financings this year for juniors and this is a large financing.
Downside is that the amount of shares will increase greatly but they should be funded for several more wells because they are in the farm in with a 50% partner (Eternal Energy).
Must read 21 page presentation : [ Here ] Updated February 6th.
I'm also speculating a move off the CNSX soon. I can't see a brokerage house doing a $9 Million+ financing without knowing the company is seeking another listing.
I still own all my shares.
Argentex Mining Corporation ( ATX TSX Venture )
Picked at 35.5 cents on December 3rd, 2011. Price now: .52!
Company Web Site: [ Click Here ]
NEW Feb. 2012 Fact Sheet [ Click Here ]
August 2011 Preliminary Assessment [ Click Here ]
Well I picked it at the right time. The stock has been creeping up ever since! Chart is looking very good. Nice slow rise.
The 2nd quarter of this year will bring a new economic assessment based on the drill results from last year's drilling.
Last week they announced that the 2012 drill program has begun:
" Argentex Mining Corporation ("Argentex" or the "Company") (TSX-V: ATX, OTCBB: AGXMF) is pleased to announce that its 2012 exploration program has commenced on its Pinguino silver-gold project in Santa Cruz province, Argentina. The 10,000 meter drill program, comprised of approximately 100 drill holes, will focus on prioritized targets within already identified areas of discovery. "During 2012, we plan to accelerate the advancement of the Pinguino project through a focused drill program targeting the higher grade precious metals vein systems delineated in 2011," commented Peter Ball, President of Argentex. "Argentex, which remains in a strong financial position, is focused on maximizing shareholder wealth in 2012."
Argentex's 10,000-hectare advanced silver and gold exploration Pinguino project is located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz province. The Deseado Massif is an active region of mining with four precious metal mines currently in production, and includes multiple active advanced and early stage exploration projects.
The Pinguino system has grown to 60+ individual veins, with a combined strike length approaching 100 line-kilometers. Approximately one-third (19 veins) of Pinguino's entire system of veins and known targets have been drill tested to date, with approximately 56,000 meters of drilling in 564 holes.
The Pinguino project is unique within the Deseado Massif region of Santa Cruz province in that it contains two different and geographically distinct types of mineralization, one precious metal and the other sulphide-rich polymetallic. The Company also continues to evaluate the geological model of sulphide-enriched potentially mineralized intrusives at depth, forming the probable source for the polymetallic veins exposed on surface. Pinguino is easily accessible, situated approximately 400 meters above sea level in low-relief topography. An existing system of all-weather roads provides year-round access to the property."
The company had $10 Million in the bank last October so I would guess they are fully funded for 2012. This is a real project and resource numbers continue to grow!
I still own all my shares.
Updates on my other picks when I get some information on them.
I hope you had a great Family Day / President's day and have a great week!
Anyone playing the Social Stock Market Game Empire Avenue?
You can visit us there: [ Click Here ]
Our TSX Venture sponsor is allowing us to have an Electronics Draw: Submit Form & look for Bonus entry! [ Click Here Please ] The company is involved in helping solve the global food crisis. With 7 Billion people on the planet and global growth continuing on a rapid pace, I think people may start paying more attention to stocks related to food and water than gold. Click the link above and get information on this company.
It trades on the TSX Venture and was just recently listed. Also the 100th person who responds to the e-Bulletin gets $100CA.
Again these are my personal thoughts on the markets. I am NOT an adviser and I suggest you consult your adviser. This is not a recommendation to buy or sell stocks, it is my personal blog and treat it as such. These small caps are volatile and high risk, I choose to invest/speculate in these stocks, but this is not for everyone.
Good luck in all your investing!
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