Gold Canyon Res Inc. (GCU-X)

Doesn’t own but is positively inclined to it. Thinks it is the best of the low grade deposits that is in Ontario. Very high regard for the geologist who has been moving this along. There are some decent high-grade sections in a low grade deposits. It is under a Lake, so there are some environmental and logistical issues.

Over 4 million ounces. Very good deposit. Low grade, just over a gram, but it holds together really, really well. Economics behind mining and processing it are going to be really good. Sits under a lake but that is an issue that can be resolved. Also, have to come to some kind of permanent arrangement with the native tribes. This stock has been hammered from fund selling. At this price, he is tempted himself.

Excellent grades. Has come off from over $2. There is a risk off trade going off with the juniors. It’s cheaper to step in than to wait for a company to make a new discovery.

Probably the best disseminated low grade gold deposit in Canada. It will be inexpensive to mine. The issue is that it is under a lake. It is a solvable issue but it will take a lot of work and a lot of permitting. Possible native issues as well.