Paul VanEeden
Palmarejo Silver and Gold Corp.
PJO-X
WATCH
Jan 16, 2007
An interesting company in that they discovered a large and reasonably robust gold/silver play in Mexico. These lower grade deposits debuts substantially more leverage to any increase in the gold price. The type of companies that could be bought out one day.
Exploration/development project in Mexico. Have about 110 million ounces of silver. Produce about 11million ounces of silver and 10 million ounces of gold annually. A great story and is the top holding in his fund. Strong takeover candidate. Good price.
Sold his holdings to go into another play, but there’s nothing wrong with the company. Had been some very strong takeover rumours. A thin trader with one shareholder owning the majority of the stock.
Very interesting project. Large silver deposit in Mexico. In a very rich area of the Sierra Madres. When the mine goes into production in 2008, it will be producing about 10 million oz. of silver per year, which puts it in the top 10 silver mines in the world.