Stockchase Opinions

David Taylor, MBA, CFA Tiomin Resources TIO-T BUY Apr 25, 2005

Doesn't know much about this company, but one of the analysts with his company owns in his fund. May be wrong, but does't think there has been much change in the stock price for 15 years. The new titanium deal could be a monumnetal event and it might be a good time to get in.
$0.385

Stock price when the opinion was issued

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DON'T BUY
Kenya deposit could hold up to 12% of the world's titanium reserves. Very small company to handle such a large find. Have been trying to get agreements since 1988. Political risks. Thinly traded.
TOP PICK
Holds 4 large titanium sand deposits in Kenya. Have a fiscal agreement to be signed this Wednesday. With this, expects them to be in production in about 18 months. The potential cash flow is about $35/40 million a year. High risk speculation, but has an attractive speculative appeal.
BUY
Likes company, and management. Could grow.
BUY
Impressed with management. Has gone through a big struggle developing a titanium sands project in Kenya which is now taking off. Have now started a very interesting copper project in Peru. Feels that copper prices have peaked, so may not be as important as it was a year ago. A worthy speculation.
BUY
Has been developing a titanium sands project in Kenya. Ready to go into production. Has sold forward 92% of its production. A very fast payback is expected. Just announced two new discoveries. They also have a 49% interest in a copper/gold deposit in Peru.
COMMENT
Technical analysis is not going to help on this one. Believe there are farmers holding upper a project in Africa. There is a huge resource that is undeveloped.