Opinions
Benj Gallander
Cerro Grande Mining Corp
CEG-CN
DON'T BUY
Dec 24, 2007
Have about 450 million shares outstanding meaning they may have to consolidate. Trying to get their Chilean mine going again. Had an avalanche, which eliminated the company's operations. Need more money.
$0.045
Stock price when the opinion was issued
precious metals
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WEAK BUY
Quite diluted which is a negative aspect. Bought at around $.09 and would look to get out at around $0.14. Good management. Likes that they are working with Rio Tinto, but at the same time the dilution kind of scares him. Lime aspect is good and could prove to be quite beneficial. A speculative buy.
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BUY
Has a letter of intent with Rio Tinto (RTP-N). Had tremendous problems. Had to close down their operations because of an avalanche. Were looking at positive cash flow at this point in time, but that won't happen. In violation of their debt covenance, but probably not a problem with the group which likes them. A good speculative buy. Very risky.
precious metals
WEAK BUY
This is one of the juniors in gold that has not done very well. The company seems to call from one disaster to another. They have what appears to be a good copper play. Had problems because of an avalanche and are now in arbitration with the insurance company looking for $3 million. Speculation. Could go up 50/75% if they do well. A lot of shares are outstanding.
precious metals