IWG - SMALL BUT SOLID IS GOOD

International Water-Guard (TSX-V: IWG)
Basic Shares: 38.1 million
Fully Diluted: 45.6million
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Quarter by quarter, year after year, International Water Guard (IWG) has been carefully and quietly flying through clear and stormy skies in the corporate jet and military aircraft markets building up its expertise and financial strength.

The result is IWG is inching ever closer to the point where it's working capital of about $2.3 million is now almost equal to its Jan. 28th market cap of $2.6 million, as the recently released first quarter results show.

(IWG's first quarter ended Dec. 30, 2010.)

And considering that nearly half of IWG's working capital is made up of $1.1 million in cash, that's an incredible bargain for any company shopper. For investors it's also becoming a more attractive prospect for three fundamental reasons.

First, IWG is buying back its own shares. As of Jan. 24th, it had snapped up just over 1.2 million common shares, with a stated goal of buying back a total of 2 million shares. That will explain the lowered 38.1 million in listed basic shares that is included at the top of this blog.

Second, IWG is scouring the broad industry looking for an attractive takeover target itself to add value to its financials. Nothing to report yet but stay tuned.

Third, most credible observers are calling for the overall aviation market to improve again this year, building on gains made in the post recession period of 2010.

If that's the case, IWG's first quarter results mirror that improved market.

Sales up to Dec. 30th, 2010 came in at just over $1.1 million, about 8% over the same quarter the year before.

That increase came despite a customer base still cautious after the Great Recession of '08 & '09 and an adverse exchange rate where IWG's products, which are built in Canada are then primarily sold abroad in ever declining U.S. dollars.

Improved margins in the first quarter compared to the same quarter in the previous year and some excellent foreign exchange contracts helped to buffer that troublesome exchange rate.

First quarter net earnings were $103 thousand compared to over $41 thousand in the same quarter in 2009.

Given all of the above, IWG President & CEO, David Fox, said in the first quarter news release:

" We continue to focus on new opportunities as we leave the recession, and look forward to am improving business aviation climate as the year goes on."

To read the full press release, please click here.

ACASTI WINS ANOTHER MEDICAL STAR

Neptune Technologies & Bioressources
NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 42.0 million
Fully diluted: 45.48 million

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Neptune subsidiary, Acasti Pharma Inc., has added significant heft to its already weighty scientific advisory board with the addition of a world-renowned clinical scientist, Dr. Jean Davignon.

Montreal-based Dr. Davignon's honorifics number in the double digits. That, his stellar reputation and his areas of expertise were what drew Acasti's interest.

His first area of great interest is in Hyperlipidemia, which Wikipedia describes as the condition of abnormally elevated levels of any or all lipids and/or lipoproteins in the blood.

His other area of expertise is in Athersclerosis, defined as the process of progressive thickening and hardening of the walls of arteries from fat deposits on their inner lining. Atherosclerotic heart disease is the leading cause of death in the US.

Acasti is focused primarily on treatments for chronic cardiovascular conditions within the over-the-counter, medical food and prescription drug markets.

"Acasti Pharma continues to demonstrate its dedication to excellence by welcoming Dr. Jean Davignon, a world renowned clinician-scientist in the field Hyperlipidemia and Atherosclerosis," said Dr. Farhad Amiri, Director, Preclinical Studies, Acasti Pharma Inc., in today's news release announcing Dr. Davignon's acceptance of the board seat.

To read all about Dr. Davignon's many, many accomplishments and the other members of Acasti's scientific advisory board please click here.

Carfinco - Big Upside?

Carfinco Income Fund (TSX:CFN.UN)
Units issued: 24.5 million
Units fully diluted: 24.6 million
Current monthly distribution: $0.02
Q1/2010 special distribution: $0.04
Q2/2010 special distribution: $0.10
Q3/2010 special distribution: $0.10
Q4/2010 special distribution: $0.31

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On the heels of Carfinco engaging U.S. based, FBR Capital Markets to evaluate strategic alternatives, including a possible sale of all of CFN’s assets, Industrial Alliance analyst Fred Westra believes that there is big potential upside for investors. In fact, he can see $10 to $12 per unit as a takeover price.

In addition to his call on a takeout value, he's updated his Strong Buy recommendation with an $8.50 target price in a January 17th update that can be viewed here.

Fred has compared the potential sale of Carfinco to past deals such as VFC, which sold for 19.5x forward earnings and Americredit which sold for 16.7x forward earnings.

He's projecting 2011 earnings of $0.61 per unit, which lead to his call for a potential take-out value between $10 and $12 per unit. He also mentions that although Carfinco is smaller than the two examples, it is more profitable with substantial growth opportunities.

Buchans Announces $3M Raise With Northern Securities

Buchans Minerals Corporation (TSXV:BMC)
Basic Shares 124.6 million
Fully Diluted 140.5 million
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Buchans is cashing up for its extensive exploration plans on its arsenal of properties for 2011 with the help of Northern Securities.

The $3 million dollars will be used to exploit various properties that have been the subject of a series of recent announcements. Further information on all of these properties can be found by reading our past blogs by clicking here...

The Offering is comprised of $1,500,000 of Units and $1,500,000 of Flow-Through Units. Each Unit will be offered at $0.11 per Unit and will consist of one common share and one common share purchase warrant (a "Hard Dollar Warrant"), with each Hard Dollar Warrant entitling the holder to acquire one common share at an exercise price of $0.17 for a period of two years.

Each Flow-Through Unit will be offered at $0.13 per Flow-Through Unit and will consist of one common share and a half common share purchase warrant (each whole warrant a "Warrant"), with each Warrant entitling the holder to acquire one common share at an exercise price of $0.18 for a period of two years.

Carfinco On BNN

Carfinco Income Fund (TSX:CFN.UN)
Units issued: 24.5 million
Units fully diluted: 24.6 million
Current monthly distribution: $0.02
Q1/2010 special distribution: $0.04
Q2/2010 special distribution: $0.10
Q3/2010 special distribution: $0.10
Q4/2010 special distribution: $0.31
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Jason Donville, President of Toronto based Donville Kent Asset Management has become a regular on BNN's Market Call and as has become the norm, he was asked about Carfinco.

In last night's (January 20th) appearance he was asked about the recent announcement that a U.S. based investment firm has been hired to look for a possible buyer of the highly successful income trust.

He was clear that his investment is based on the strong fundamentals and company performance and that's why he holds the units and not because it may be bought out in the future. He is expecting 2011 to be another strong year for Carfinco.

He did say that if the unit price were to shoot up to $8-8.50 he might be prepared to part with his investment. Mr. Donville started buying in the $1 range and was still buying in the $5+ range. The units are trading just under $7 as of this writing.

It was mentioned that an analyst at Industrial Alliance (Fred Westra) believes that the Fund could be taken out at $9-10 per share. Mr. Donville said he would be thrilled if that was the case but he's in no rush.

The full interview can be viewed by clicking here, go to Market Call Tonight Part Two at about 3:20.

VentriPoint Banks over $1.8 million

VentriPoint Diagnostics Ltd.
VPT - TSX Venture
Shares issued: ~79.4 million
Fully diluted: ~99.6 million

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VentriPoint announced today that it has closed its private placement for total gross proceeds of $1,808,866. Bloom Burton & Co. Inc., of Toronto lead the raise and has acknowledged that institutions played a big part in the private placement.

As a result of the financing the company issued a total of 10.64 million units at a price of $0.17. Each unit consists of one common share and one half of one common share purchase warrant exercisable at $0.25 for 36 months from closing.

According to the news release, the net proceeds of the private placement will be used for: (i) expenditures with respect to product and service commercialization of the VentriPoint Medical System ("VMS"); (ii) expansion of VMS functionality, including applications for additional diagnoses and heart diseases; and (iii) for working capital.

To view the full news release, please click here.

Buchans; Is There A Mine In Its Future?

Buchans Minerals Corporation (TSXV:BMC)
Basic Shares 124.6 million
Fully Diluted 140.5 million

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Given today’s metal prices, Buchans Minerals believes the known resources at its Lundberg & Engine House properties in Newfoundland warrant further detailed examination to determine the viability of it becoming an operating open pit mine.

As such, it has engaged Wardrop Engineering to complete a Preliminary Economic Assessment "PEA" on the Lundberg and Engine House deposits. The information from the recently completed detailed open pit mine plan based on a 5,000 tonne per day operation and the ongoing metallurgical tests at SGS Canada Inc. "SGS" will be incorporated into the PEA anticipated to be completed in the second quarter of 2011.

The open pit mine plan captures 16.64 million tonnes at a grade of 1.637% zinc (Zn), 0.698% lead (Pb), 0.406% copper (Cu), 5.97 g/t silver (Ag) and 1.254% barium (Ba) for a combined base metal grade of 2.74% (Zn, Pb, Cu).

Subject to it proceeding, the mine life is approximated at 10 years and the average stripping ratio is estimated to be 3.20 : 1 with 53.26 million tonnes of waste material being moved. The open pit would be located just west of the town of Buchans in central Newfoundland.

In addition to the open pit mine plan the Company has embarked on a bench scale metallurgical program to determine the recoverability of the metals from the resource.

In conjunction with the bench scale metallurgical tests currently ongoing at SGS laboratories, the preliminary mining plan will be evaluated with a view to potentially proceeding with a national instrument 43-101 compliant Preliminary Economic Assessment (“PEA”).

Read today's news here........

Neptune's Future Value Creators

Neptune Technologies & Bioressources
NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 42.0 million
Fully diluted: 45.48 million
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Catalyst Equity Research analyst Robin Cornwell has provided some additional persepectives on why he believes Neptune's shares are undervalued by $3 to $5. His comments come in a follow on report to last week's management quarterly results conference call. In case you missed that call, click here.

Mr. Cornwell noted that while Q3F11 revenues of $4.3 million were a little lower than his $4.5 million forecast, gross margins of 48% were in line with expectations. While he's dropped his F2011 (Feb. 28) sales number to $17.3 from $18 million, he's calling for $24 to $26 million for F2012.

However, why he feels NTB is well undervalued is backed up by several items.

1) NTB's 57% owned pharma driven subsidiary Acasti, is set to go public very soon. Management is looking to have Acasti listed on the TSX Venture Exchange by the end of February. Mr. Cornwell feels Acasti could get to $100 to $250 million in valuation within a year. Based on its percentage ownership, that would add $1 to $2 of value per share to Neptune (writer's comment). Of note, this is based on Acasti finally receiving Health Canada (CTA) approval for a Phase II clinical trial to get underway. Of course, the trials would have to be successful.

2) Simply based on NTB's core nutraceutical business (health capsules), it's trading at 15 to 17 times F2012 adjusted EBITDA. This implies there is no value being attributed to the medical food (Onemia) and pharma initiatives. Onemia is FDA approved and a marketing program aimed at U.S. doctors has been running for the last two months.

3) Acasti is a comparison to Amarin (AMRN - NASDAQ). Amarin is running concurrent Phase 3 trials for its pharma driven fish oil based treatment for cardiovascular disease. This is Acasti's target market. As a writer's note, Acasti as stated above is still awaiting approval to proceed with a Phase 2 trial while AMRN is in the heat of Phase 3. The point is that AMRN's market cap is around $1.4 billion!

Amarin late last year announced it had hit key end points for reducing Triglycerides, on which Acasti also has its target set. Animal results as announced in two previous news releases say NTB/Acasti has produced startling results that exceed all competitors in the push for finding a natural marine based treatment for cholesterol issues.

Mr. Cornwell's point is that there could be substantial future value for Acasti & NTB. Please note the AMRN chart below. To read Mr. Cornwell's update, click here.

Please click on the chart to enlarge

Argonaut Announces Final Drill Results – Molybdenum, Copper & Gold

Argonaut Exploration
AGA - TSX.V
Shares Outstanding - 27.2 Million
Fully Diluted - 38.6 Million

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Today, Argonaut Exploration released its final drill results from its 2010 drill program on its High Gold property located just outside of Smithers, BC.

Overall, the company drilled 2,500 metres and encountered long intercepts of consistent mineralization from surface to depth.

AGA encountered intercepts of over 300 metres, which is important for mining purposes, should this become an economic deposit.

Below is a table of the results.

The company sums up the results in the news release by saying, “Results from the 2010 High Gold exploration program indicate a molybdenum – copper mineralized Bulkley-type porphyry system. The High Gold porphyry system contains zones of elevated metals associated with a distinct well-fractured stockwork zone. Geological mapping, geochemistry, drilling and a “deep penetrating” I.P. survey indicate a large and deep metal-bearing system located just 18km from a major highway with power and rail infrastructure.”

When evaluating the value a porphyry system, consider the following: At today’s copper / molybdenum / gold prices 0.25 % copper equivalent with sizable tonnage should be economic. This is a big change from ten years ago when copper was below $1 per pound, and 1% copper was considered economic.

See the illustration below.

To view the full news release, please click here.

Silvore Fox Drills Copper, Gold & Molybdenum at Coxheath

Silvore Fox Minerals
SFX - TSXV
Shares Outstanding – 139.67 Million
Fully Diluted – 154.05 Million

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Last fall Silvore Fox initiated a modest 8 hole drill program and in total the company pulled out 2,550 metres of drill core at its 100% owned mineral rights Coxheath property located just outside of Sydney, Nova Scotia.

Highlights of the drill results include the following.

- 56 metres - 0.19% copper and 0.10g/t gold
- 39 metres - 0.28% copper and 0.24g/t gold
- 23 metres - 0.37% copper and 0.33g/t gold
– 34 metres - 0.039% molybdenum, including 4 metres of 0.303% molybdenum.

The key to the economics of a porphyry play is the tonnage combined with consistent mineralization. To this point, Silvore Fox’s president & CEO, Harry Cabrita stated in the news release “…It appears that a mineralized zone consisting of a copper-moly belt in the south-central part of the Central Zone surrounded by copper-gold mineralization occupies an area 300m (long) by 250m (width) and reach a depth of 300m based on limited drilling to date.”

Also the company’s VP Exploration, Dr. Zhenquan Gao acknowledged, “the Property may have the potential for a low grade - high tonnage copper-gold/high grade moly porphyry type deposit.”

To view the full news release, please click here

Buchans Ups The Gold Stakes

Buchans Minerals Corporation (TSXV:BMC)
Basic Shares 124.6 million
Fully Diluted 140.5 million

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Buchans is after gold and its management team believes it knows where to find it.

The company has staked 52 claims over 13 square kilometres called Glover Island in central Newfoundland that management says hosts the same gold mineralization as what Mountain Lake Resources (TSX V: MOA) has found.

Mountain Lake has been successful with various gold claims throughout Newfoundland and shares soared to a 52 week high of $1.11 just last month. MOA holds several significant gold prospects over 11 kilometres adjacent to Buchans new claims where it has seen strikes of 7 metres averaging over 11 grams per tonne of gold.

Buchans plans to conduct a preliminary prospecting program this spring at Glover Island.

Full news release can be viewed by clicking here.........

Smartcool to Purchase its UK Distributor

Smartcool Systems Inc.
(SSC: TSX-V)
Basic Shares 46.8 million
Fully Diluted 54.7 million
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It was released today, that Smartcool Systems Inc. has issued a Letter of Intent to acquire Smartcool Systems UK Ltd, a distributor of its ESM(TM) and its ECO3(TM) energy saving technologies.

The terms of the agreement were not disclosed in the news release; however management is committed to meeting all the requirements before February 28, 2011.

The catalyst for acquiring the distributor would be to capture 100% of the sales revenue from the U.K. We can’t quantify what this could mean to Smartcool’s top and bottom line.

To view the full news release, please click here

$8 Target On Carfinco from GMP Analyst

Carfinco Income Fund (TSX:CFN.UN) Units issued: 23.9 million
Units fully diluted: 24 million
Current monthly distribution: $0.02
Q1/2010 special distribution: $0.04
Q2/2010 special distribution: $0.10
Q3/2010 special distribution: $0.10
Q4/2010 special distribution: $0.31
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In the wake of news (click here) from Carfinco that it hired a U.S. investment firm to explore the possible sale of the income fund, GMP Securities analyst Steve Boland is calling for an $8 price as fair value for the company.

Quoted in a FP trading desk report, the analyst sees three different scenarios unfolding (click here).

It's interesting that Carfinco looked south of the border for an investment firm to beat the bushes on its behalf. It's a pretty clear indication of what the fund's Board of Trustees is thinking regarding the location of a possible buyer (click here).

Carfinco has until the end of this year to convert from an income trust to a corporation.

Advancing Research and Getting Paid To Do it....

VentriPoint Diagnostics Ltd.
VPT - TSX Venture
Shares issued: 68.8 million *
Fully diluted: 83.7 million *

(*recent financing to close in Jan 2011 will increase shares outstanding)
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The company recently announced its first U.S. research installation for the VMS™ 3D technology for right heart analysis. The deal was done with the University of Nebraska Medical Center/Creighton University Joint Division of Paediatric Cardiology at Children's Hospital & Medical Center in Omaha.

This is part of the designed rollout strategy created by Dr. George Adams after he took over late in 2010 as CEO of VentriPoint Diagnostics. ( See the release here...)

The installation of the VMS system will be used to validate another congenital heart condition beyond the initial application of tetralogy of fallot. (blue-baby).

This research is being paid for by a 3rd party of merit and recognition, namely the Nebraska Medical center. In addition ,‘Nebraska’ has agreed that after a positive 3 month evaluation period, it will purchase the machine.

VentriPoint will receive another study and paid for application as well as the earned recognition for advancing its technology through further independent research projects and the publications, which comes from them. This is further validation material, which has enormous value for regulatory submissions and market support. In addition, assuming that the evaluation by the institution is positive, VentriPoint then receives income from the sale of the technology.

VPT is in serious discussions with other U.S. institutions with the goal being to close several more deals by Q2. The recent announcement goes a long way to validating the effectiveness and value of the VMS technology , especially when the world’s leading researchers are willing to buy the science and then pay for its validation.

This is a great model all developing diagnostic companies should use. Fortunately for VentriPoint’s shareholders, management has figured this out .

Fresh For The New Year - A Resource Opportunity

Buchans Minerals Corporation (TSXV:BMC)
Basic Shares 124.6 million
Fully Diluted 140.5 million
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Buchans Minerals is a quickly and ever evolving story that has everything from grass roots exploration properties to properties that are near development. BMC has been steadily gaining attention since engaging The Howard Group last August.

A new year perspective from The Howard Group is available by clicking here.....

Company Highlights:

• All of Buchans’ properties are in Eastern Canada.

• Lundberg: It is 100% owned and has a 43-101 compliant inferred resource (copper, lead, zinc) of 20.7 million tonnes, of which a recently completed mine plan has identified that 16.64 million tonnes can be mined via a single open pit operation. Pending metallurgical test results, the short-term goal at Lundberg is to launch a preliminary economic assessment during Q1/2011 with a view to ultimately building a mine.

• Long Range / Goldquest: It is a 50/50 joint venture with Benton Resources in central Newfoundland, which was completely unexplored until 2008. A recent gold discovery here has returned assays of over 106 grams per tonne of gold and 360 grams per tonne of silver and has been aptly named Goldquest. The companies have added 32 square kilometres of additional claims surrounding the area based on the recent gold find. Other work now includes extensive geophysics, an extensive airborne survey and drilling. To date, high grade nickel and copper have also been discovered and management believes the property has strong similarities to the successful Voisey’s Bay discovery.

• Woodstock Manganese Property: It is 100% owned and host to three distinct deposits of manganese and iron. Management thinking is that it could become one of the largest undeveloped resources in North America. The historic information is not 43-101 compliant and Buchans is currently assessing scenarios for advancing the property.

• Buchans North: It is 100% owned with recently discovered massive sulphides containing high copper lead and zinc values with gold and silver showings. Initial drilling took place in 2009 with copper values discovered as high as 15.5% and 15.52% zinc. Complete results were released in mid-December from a recent five hole drill program. The first drill hole hit massive sulphides with high grade zinc, lead, silver and gold. More work is planned for early 2011.

Solid Resources Kicks off Rare Metal Drill Program

Solid Resources (SRW - TSX.V)
Shares Outstanding - 79.37 million
Fully Diluted - 137.42 million

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At a time when rare metals are getting lots of attention from the world media & investors, Solid Resources announced today that it has started its 2011 drill program on its Spanish Doade-Presqueira property. The 3,500 metre drill program is targeting known rare metal occurrences such as Tin, Tantalum, Lithium, Niobium, Cesium and Rubidium.

The company has a NI 43-101 resource report on its Spanish property that was posted to www.sedar.com in March of 2010. The report specifies the average assays from the eleven drill holes in 2003 and 2005 returned the following results: (453.5924 grams = one pound)

- Lithium - 3,700 g/t with highs of over 10,000 g/t

(The current price for lithium is approx. $3/lb (CAD))

- Tantalum - 79 g/t with highs of over 177 g/t

(The current price for Tantalum is approx. $37/lb (CAD))

- Tin - 491 g/t with highs of 1,141g/t

(The current price for Tin is approx. $12/lb (CAD))

This property also possesses a historical past producing tin mine.

To view the full news release, please click here.

A World Class Platinum/Palladium Discovery - Is It In Pure Nickel's Future?

Pure Nickel (TSX: NIC)(OTCBB: PNCKF) Basic Shares: 67.8 million Fully Diluted: 75.5 ---------------------------------------------

Without a doubt, Pure Nickel shareholders had been anxiously awaiting results from last summer's drill program at the company's MAN property in Alaska.

Even as today's (January 11th) results were released and addressed in a conference call hosted by NIC's President Dave McPherson and Chief Geologist Dr. Larry Hulbert, the market was active with just under 2 million shares traded during the day.

The company and its JV partner ITOCHU, which have spent $14 million on the property since 2008 to earn 30%, have been exploring MAN to find a large nickel deposit. After detailed analysis of over 3,400 core samples the companies now realize that MAN hosts a stratiform Platinum Group Element (PGE) "horizon" along with high grade nickel-copper massive sulphide. The release noted a length of 2.7 KM.

There are 2 types of PGE occurrences on this planet, a stratiform reef type and a massive sulphide type. MAN hosts both.

According to Dr. Hulbert, in today's world 24% of all consumer products require platinum in one way or another. Either in the manufacturing of the product in some way or in the product itself such as a fuel cell.

Platinum is also the most difficult thing on the planet to find according to Dr. Hulbert and Pure Nickel may have one of the few places on earth that could be a commercial discovery. The PGE's sit very close to surface and the MAN property has excellent infrastructure in place.

The two largest suppliers of platinum are the Stillwater Mine in Montana and Busveld operation in South Africa where Dr. Hulbert spent five years and earned his doctorate.

It's clear NIC is at the front end of determining if it has an economic deposit. There is considerable work to be done over the next few years and patience is going to be required but the early signs are encouraging.

To read the news release, click here.....

Buchans Makes Gold Discovery

Buchans Minerals Corporation (TSXV:BMC)

Basic Shares 124.6 million
Fully Diluted 140.5 million
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Buchans Minerals and 50/50 joint venture partner Benton Resources
(TSXV: BTC) have discovered a new gold rich area on the Long Range property in central Newfoundland.

This new discovery has been aptly named Goldquest as assay samples contained up to 106.38 g/t (grams per tonne) of gold and 364.3 g/t of silver from the newly identified quartz veins found at Long Range.

Warren MacLeod, President of Buchans Minerals states that “we are impressed with the potential of the Goldquest discovery and look forward to aggressively developing this project in 2011. The Long Range J.V., which is primarily conducted over previously unexplored ground, has already resulted in three new discoveries in two years which bodes well for the future potential of this large property.”

The initial discovery took place on two separate logging tracks located more than 1 kilometre apart. Subsequent soil sampling measuring 1,000 metres x 600 metres identified an anomalous trend that ran south more than a kilometre leaving the potential strike zone open in two directions.

Full details and descriptions of the sampling can be found in today's news release by clicking here.....

The companies in 2010 expanded the land position at Long Range by staking 128 additional claims covering 32 square kilometres. Further work will take place this winter in preparation for the spring thaw where further prospecting and trenching will aim to target future drilling later in 2011.

Buchans Moves Closer To Decision On Mining Large Deposit

Buchans Minerals Corporation (TSXV:BMC)
Basic Shares 124.6 million
Fully Diluted 140.5 million

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Another piece of the puzzle has been placed as Buchans and its engineering firm Wardrop have completed a detailed open pit mine plan on the company's 100% owned Lundberg and Engine House deposits in central Newfoundland.

The plan is based on a 5,000 tonne per day mill operation. The report expects 16.64 million tonnes of a 20.7 million tonne Inferred Resource at Lundberg could be processed. The average grade is 2.78% combined base metals and 1.1 million tonnes grading 3.71% at Engine House. The estimated life of the mine would be 10 years with a planned average stripping ratio of 3.2:1.

The mine plan is one of two final key pieces of the puzzle required to complete a preliminary economic assessment or PEA. The remaining piece is the currently ongoing metallurgical testing that will determine the recoverability of the metals and grades of saleable concentrates.

A video and 3D image of the Lundberg and Engine House base metal deposits can be viewed by clicking on the picture above or by clicking here.....

See full news release here.....