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May 31, 2006

One of the Cara junior golds glitters, Wed., May 31, 2006, 3:18 PM

I try to give an objective picture of the junior gold and silver miners and prospectors because I don't want to join their hype machinery, which admittedly they all have in place.

I have given a list of a few juniors on the Toronto Stock Exchange where I know something about the people behind the deal. Unfortunately, I don't have as much time to read the reports as I'd like, so I'll pass them along when I can.

Today Sprott Securities issued a report on Guyana Goldfields (TSX: GUY C$8.40), after this morning's corporate news release of drill results. Sprott is an expert broker-dealer and successful manager of funds in the precious metals area, so I hope you read their words carefully. Download Sprott report on GUY.

The essence is that the drill results are promising enough to take their Speculative Buy rating up to a full scale Buy, and they raised their price target from C$5.50 (which was the case when I first wrote up this one for you in March), and from C$7.50 (Apr-19) and C$8.75 (May-01) to C$10.50 today.

With all the excitement, GUY is up C$1.10 today to C$8.40.

Sprott's clients are over the moon. They closed a C$20 million bought deal @ C$4.50 April 21.

Posted by Posted by Bill Cara on May 31, 2006 03:18:36 PM | Category: Goldminer Producers

Discourse

Would this still make a good investment now to go long? Even with how you see the market moving in the near future? Or had the boat already left the dock?

Posted by: Quentusrex [TypeKey Profile Page] at May 31, 2006 3:24 PM [link]

Notwithstanding the risk of aggravating your back with that mirror of yours, you can take another big bow for USGL.

I'd been stalking it for a few months after you'd reported from PDAC, missed the run up, refused to chase, but dipped a toe in two Friday's ago when gold was getting whacked and USGL was down to the tune of 15% on the day, putting the daily RSI in the low 30's--an area not seen since last August.

Needless to say I'm rather pleased with my 7-session return. Thanks Bill!

Posted by: doug11 [TypeKey Profile Page] at May 31, 2006 3:42 PM [link]