Stockchase Opinions

Robert Cohen B.A.Sc., MBA, CFA Erdene Resource Development ERD-T BUY Jan 11, 2006

They are active in several concessions in Mongolia. Any one of their projects could be a major mine. Should do well over the long term.
$1.000

Stock price when the opinion was issued

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DON'T BUY
Unfortunately, it is in Mongolia and their parliament passed an excess profits tax which made it unattractive for investors.
TOP PICK
Small coal play. In pre-feasibility with feasibility study due in the next few weeks. Partnered with Xstrata (Cape Breton met coal property). Beneficial because of location where shipping costs will be cheaper. Also have a moly and copper play in Africa that is attractive Lots of cash and supported by NAV.
COMMENT

This now has a project in Mongolia which has epithermal veins, which he loves. When you do find them and they carry great grades, it can grow really fast. This has a 50 g/meter width quite prominent with something like 16% which gets him excited. Still very early stage.

DON'T BUY

Attracted to it, but doesn't own or recommend. He rates it a 5, which is neutral. Gold and copper in Mongolia. Data doesn't justify labeling findings as "massive" discoveries.

WATCH

The fact that TECK.B is a shareholder speaks well for it, and he should pay attention to that. Explores and develops copper and gold in Mongolia.