Global Cobalt is on fire. Market Cap is hugely undervalued.

There's $$$$ here.

sounds like pretty much a new company.........with a lot of shares.

A lot.

Relating the EAG shareprice to the assays is like trying to sell a Bentley or a Rolls for say $1,500 bucks because you are located where there are no roads to drive on. The TSXV does not exist right now, the plug has been pulled. The Venture is a place to cash out, a place for for Euro funds to liquidate holdings at any price....any price that will generate cash. Don't bother sending any NR's about blockbuster assay results, the funds are liquidating.....period.

BNN did a show today "Does the TSX Venture Exchange Need Saving? 's It's on again tonight at 10pm I'm with you on the shareprice of $5 to $10, the gold is shallow and you can drive a truck right to the site. There's just nobody listening.

Apparently one of the drill bits has hit Fort Knox.

EAG halted. Hope it's better news than the Leafs.

‘Say goodbye to the public venture market’: Advisor warns Flaherty of disappearing TSX-Venture

By Barry Critchley

On any given day, Jim Flaherty, the federal minister of finance, must receive hundreds of pieces of correspondence dealing with all sorts of matters.

It’s not known how much of that correspondence is in the form of PowerPoint presentations. But we do know that he received at least one such presentation this week.

It was sent by Darrin Hopkins, an investment advisor in the Calgary office of Macquarie Private Wealth, a long time veteran of venture investing in Canada and a member of numerous local and national committees set up by the regulators and stock exchanges. Specifically he is the chairman of the national and local advisory committee of the TSX-Venture Exchange as well as a member of the exempt markets advisory committee set up by the OSC.

Hopkins is alarmed at the state of affairs in the public venture market that manifests itself in two main ways: a sharp reduction in the amount of capital raised and a sharp reduction in the dollar value of shares traded. In short the recycling of capital has diminished.

“The numbers showing declining activity speak for themselves. There are no buyers which leads to a spillover. I am very surprised that more attention is not paid to the situation,” said Hopkins on Thursday.

Hopkins, who sent his PowerPoint to Flaherty in the same week that the institutional brokerage firm LOM Ltd. plans to stop being a member of IIROC in large part because of the high costs of such membership, lists other factors for the slump. They include: the overall market, a paradigm shift away from risk, demographics (as the Baby Boomers approach retirement), the high cost of capital for juniors, — in other words regulatory creep — the diminishing number of independent brokerage firms, a sharp drop in the number of deal brokers and the focus of the exchanges on more listings instead of liquidity.

Against that backdrop, Hopkins isn’t satisfied with the “muted” response from securities commissions and other regulators, the two exchanges and from governments. Hopkins argues, “There’s no apparent action plan” and “too much belief that this is just a normal business cycle.” In addition, he believes Maple, the consortium of financial institutions that acquired the TMX Group (that includes the TSX, the Montreal Exchange and the TSX-Venture) “has not brought its capabilities to the table.”

But Hopkins in his missive to Flaherty also spent considerable time on possible solutions, one of which is to make the federal government aware of the situation.

Other suggestions include: reducing the cost of capital, a dramatic inward look at the policies and procedures of the TSX and the TSX-Venture Exchange, an increased access to capital, creating new exemptions for public companies and trying to create a venture exchange partner in the U.S. “We have to make it easier for small cap companies to raise capital,” said Hopkins.

Hopkins mulls on what may occur if nothing is done. He lists two main possibilities: the TSX-Venture will be reduced “to insignificance” in less than five years; and the banks will control virtually every part of the financial business given that they aren’t participants in the venture business. In other words, “say goodbye to the public venture market,” said Hopkins.