Nice chart ....

Here's to some great assays to match the chart.

Copper Fox Metals (TSX-V:CUU):

A realistic look ahead (Nov '10)

The Copper Fox Metals feasibility study should be out mid to late Q1 2011. The resource estimate is expected to be somewhat improved over the 2007 estimate with the greatest improvement coming from reduced costs. Since 2007 however, the outstanding shares have increased significantly limiting the upside buyout potential compared to 2007.

Teck has a 120 day period to exercise a conditional 75% buy back option provision and expectation is Teck will exercise the provison as they are on the hunt for a copper stream and Copper Fox should fit that need.

Important to note is that the feasibility study will not include any resources contained in the extension zone where CUU drilled last summer. For them to do that they would have needed to drill dozens of holes and they are not going to do that I was informed. While the price of gold and copper have increased the hundreds of millions of new shares have contributed to keeping the per share value down. Consequently we are looking at a potential buyout price generally thought by those in the know to be between $1.50 and $2.00 a share possibly.

Other considerations:
Coper Fox management would like to see an outright buyout of the company. They don't want to get involved with mining the Shaft Creek deposit, that is Teck's domain. In a best case scenario Teck would simply buy Copper Fox outright. If they don't buy CUU then there exists the possibility that Teck would just mothball the project until such time as they need it and currently we know from the news recently they have their hands full with existing projects. It would not be in the interests of Copper Fox shareholders to have Teck mothball the project. Copper Fox management would be free to sell their 25% portion to any buyer who is willing to wait until Teck decided to finance and commission a mine at Shaft Creek but that may have a detrimental effect on the selling price. With Copper Fox trading near the .75c range there appears to be a double in store or a little better for shareholders willing to wait for another year for the various decisions and their effects to unfold and learn which direction Copper Fox is heading in. It all rests with Teck at this point in time. Teck for their part has been doing their due diligence vetting the numbers during the current ongoing feasibility study and we can expect an answer likely before June 2011 whether or not Teck will buy back in and to what extent'

JMHO

You're right about most juniors would be happy to cut those numbers.

I suspect we may a follow up NR to clarify any misunderstanding in the significance of those assays and some other issues.

Currie Rose Resources (CUI, TSX-V) – SPECIAL ALERT

Currie Rose was added to the BMR Portfolio at 16 cents this past week after we completed a considerable amount of due diligence on this company which has been publicly trading under the same name with no consolidation for nearly 40 years…it has also had the same President, Harold Smith, for the past 17 years…so what has transpired with this company that has us so excited?…the explosion in the Gold market and the success other companies are having in Tanzania has made Smith realize that his company’s assets in that country, first acquired in 2005, are undervalued…he’s getting the word out and is going to aggressively tackle 2 major and highly prospective projects – Mabale Hills, where Currie Rose made a discovery at Mwamazengo several years ago when it first started in Tanzania, and Sekenke where the company has assembled a large land package surrounding the former Sekenke Mine, one of the very first Gold mines in Tanzania which was in production in the first half of the 20th century…we have done our research on Sekenke and we have more to report on that project in the days ahead – in short, we believe Sekenke is another Granada-type situation and has tremendous potential to quickly develop into a “company maker” for Currie Rose…right now, Currie Rose is drilling its Sisu River Property at Mabale Hills (a few kilometres northeast of Mwamazengo)…a 3,000 metre RC drill program is in progress at Sisu River where “significant ‘in-situ’ Gold mineralization” exists according to a 2005 Technical Report…Sisu River has never been fully or properly explored and the current drill program is expected to deliver some answers regarding this property, in particular the extent of the Gold mineralization… this is a VERY interesting target which is hosted within felsic volcanic rocks, generally considered to be favorable hosts for Gold in greenstone belts around the world…rock chip sampling by a previous operator returned values as high as 553 g/t Au…random grab samples recently collected by Currie Rose’s geologist, over an area 150 metres by 30 metres, also returned interesting numbers with 6 of 13 results grading better than 5 g/t Au including one as high as 89 g/t Au…Gold is present at Sisu River, it’s close to surface (artisanal miners made their own discovery there about a year ago), and could be disseminated throughout the rock…in otherwords, it doesn’t appear they’re chasing a narrow vein structure…Currie Rose has a well thought out drill plan and the first round will blanket the anomaly with 25 or so holes drilled to depths of approximately 100 to 125 metres…record levels of volume for this stock started in mid-August and that’s a very bullish sign…over 6 million CUI shares traded this past week on the CDNX, including 2.1 million Friday when the stock closed at a new 52-week high of 19.5 cents…a breakout through resistance at 20 cents appears imminent…

Friday October 30, David Pescod's daily report included this comment from John Kaiser

The third one (Top 3 pick) is the one that is related to that trip I took with Geologix Explorations (GIX) and this is a copper / gold story. This is a story where one, a PEA uses fairly conservative prices and it looks kind of interesting. It's going to go from .50c to $1.50., but if you plug in current gold and copper prices you are talking about a $3.50 target and if you do what their exploration VP thinks he can do (namely double the size of the resource and then double the life of the mine at the scale they’ve chosen for it) you are talking about a $7.00 price target. And if you actually go crazy and plug in $2000 gold and $5.00 copper like some of these banks are now suggesting might be the new reality, you are talking about a $13.00 price target. Those are my three top picks for the moment.

Good momentum and upside potential for shareholders in this one.

Geologix has a large gold-copper deposit in Mexico.

Work is underway to expand and upgrade that resource, and to advance it toward production. A second Mexican project offers discovery potential and the aggressive management team is continuing to seek other projects with potential to add near term shareholder value. The company has several other properties on which other companies are funding work to earn interests. The company has a strong management team with considerable experience in exploration, mine development and finance.

Dunham Craig, CEO, developed two operating mines in a career that includes major companies and smaller producers. Director Randy Smallwood is president of Silver Wheaton, a $7billion company that produces 20 million ounces of silver annually through “streaming” agreements. Other directors include: Eduardo Luna, a director of Silver Wheaton and former executive vice president of Goldcorp; Graham Thody, CEO of UEX Corp; and George Brach, a former managing director of the mining group at Scotia Capital.

Geologix had a previous exploration success, but that project was lost to the global financial crisis. The company optioned a gold-silver exploration project from Silver Standard on the basis of a cash payment due upon exercise of the option, with the payment being an amount per ounce for the gold and silver. Geologix delineated 2.7 million ounces of gold and 85 million ounces of silver, an exceptional success story. As a result of that success, the amount payable to Silver Standard to complete the option agreement was $34 million. Unfortunately, the company was forced to find that money in the aftermath of the global financial crisis. At that time, raising money for any purpose was nearly impossible. With work yet to be done on the project, money was not forthcoming and the
company missed the deadline for the payment and the project was lost.

The company then turned the financial crisis to advantage: They purchased the Tepal gold-coppe rproject in Mexico from a company that is focused on silver and was facing cash payments to maintain the project after the global financial crisis.

Based on the work to date, Tepal hosts a total of 1.15 million ounces of gold and 413 million pounds of copper (indicated resource is 25 million tonnes at a 0.54 grams per tonne gold plus 0.27% copper plus an inferred resource of 55 million tonnes at .405 grams per tonne gold plus 0.219% copper). Based on a gold price of $800 per ounce and a copper price of $2.05 per pound, the metal value at Tepal averages $24 per tonne. That value compares favorably to numerous profitable mines. Surface sampling and geophysical surveys have identified several target areas near the present resource.

Those targets hold the potential to expand the resource by a multiple of the current size. Drilling is presently underway. The first priority is to push out the limits of the current resource. Three other targets just east of the resource area all have footprints in excess of the size of the present resource.Geologix has paid $2.4 million towards the purchase of the deposit. A payment of $1.55 million due next February can be paid one half in shares. A final payment of $2.3 million in June 2011 will give the company complete ownership, subject only to a 2.5% royalty.

Metallurgical test work has returned favourable results, with 87% of the copper and 60% of the gold readily recoverable into a high quality concentrate. The Tepal project is ideally situated for mine development, with modest topography and just 8 km from a town. Metallurgical testing has shown good recoveries.The company is working towards a preliminary economic assessment based on open pit mining and standard processing to produce a copper concentrate. Initial indications point to a low capital expenditure and operating costs, with favorable economics.

The company's second project, La Libertad, is an earlier stage gold-silver exploration project in Sonora,Mexico. The property covers an area of favorable geology, with an intrusive body in close proximity to a shear zone. Gold and silver are hosted in veins and stock works related to the shear. The area is generally gravel covered, but where trenching has exposed outcrop,highly encouraging values of gold and silver have been encountered over substantial widths. The trenching has produced gold and silver values over 1.8 km. Geophysical results over the area suggest a target with considerable size potential.

Initial drilling this year confirms the potential for the system to host a large body of gold-silver mineralization: Assay from the first hole include an intercept of 26 metres of 1.0 grams/tonne gold and 65 g/t silver with the second hole, 100 meters away, showing a wider, but somewhat lower grade interval. The area is flat, with good road access and power lines nearby. The company can earn an 85% interest for $5 million of work and$900,000 of payments over six years.

Geologix also has a dozen other exploration projects, nine of which are presently being funded by joint venture partners under earn-in agreements.

The company would retain interests ranging from 30% to 45% after extensive exploration work is completed.Success on any of those projects would provide another kicker on the share price. The company has about C$5 million of cash, enough to generate substantial news before having to raise further money. From the current share price, shareholders stand to gain from on-going progress at Tepal, with considerable scope for growing the resource. Over the next year, we expect to see a substantially larger deposit, and to see that deposit advancing steadily toward the start of production. La Libertad is already looking like a winner. Further results like those already announced would add considerable value in the near term.