Brent Cook Camrova Resources Inc CAV-X DON'T BUY Sep 25, 2009

Cobalt in Mexico. Never had thought much of this project. Did a feasibility study and have a resource. His concern is that it is formed in a stratosphere body in soft sediments, which has shifted. There are slight offsets in the seam, which really impacts the costs.

Brent Cook

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$0.650

Stock price when the opinion was issued

metal mines

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TOP PICK

Big copper/cobalt deposit in Baja California. Has 100 years of production history. Have an innovative mining approach that will have a big impact on costs. Well advanced towards a feasibility study which will validate the project.

PAST TOP PICK

(A Top Pick July 12/06. Down 9.1%.) Taking longer than expected to get through its feasibility study. Very close now and think they'll get back on track.

BUY

(Market Call Minute.) They are heading for production. They are in the construction phase of the copper/cobalt deposit. Cobalt is $50 a pound.

BUY

Thinks it will go a lot higher from this level. A little bit of uncertainty hanging over the financing. Having completed all the details of getting their financing package together. Primarily copper but a significant amount of cobalt. Moving towards production.

DON'T BUY

Have an unusual sedimentary copper deposit in Baja California. Issues are going to rise when they get into their mining because of faults, which will bring in excess dilution. Also not positive on copper.

RISKY

Copper prices are going to be one factor. There is a lot of risk with exploration. Once they become a mature mining company you can start basing it on commodity pricing. You have to get out if it drops below $0.90

WATCH

Interesting project. Soft sediments, copper mineralization. I've spent a lot of money building this and now we'll see if it really works. If it does as they expect, the stock is seriously undervalued.

DON'T BUY

Complicated deposit. Metallurgical complex. They had board and management problems. It is not something he would personally own. He has concerns about the metallurgy.

COMMENT

Doesn't know too much about the fundamentals on this company but technically the one thing he has seen is that the RSI has gotten really, really low. If you own, you are probably going to want to stick through it to the end as it is too late to Sell.

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Brent Cook Camrova Resources Inc CAV-X DON'T BUY Sep 25, 2009

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