Brent Cook
Underworld Resources Inc
UW-X
HOLD
May 29, 2009
Well-structured and tightly run company. Very good management team. Interesting structure in the Yukon. His numbers show in the order of 4 to 5 hundred thousand ounces in the order of 3 to 3.5 grams. Key is to see what happens when they drill away from the structure.
Doesn't know much about the company but likes the pattern. Had a major breakout in May. Good volume. Buy if it drops below the $2 level. Has the potential to double. $1.50 would be the stoploss.