As Manitou Gold (MTU, TSX-V) has demonstrated this week, sometimes a company can seemingly come out of nowhere and catch the market by surprise with a stunning drill result. We actually brought Manitou Gold to our readers’ attention last spring, shortly after the stock started trading on the TSX Venture Exchange, but until now liquidity has been a major issue with Manitou.
Another relatively new company that has the potential to produce a property “surprise” is Trueclaim Exploration (TRM, TSX-V), a stock we’ve made reference to on several occasions as it has an agreement with Currie Rose Resources (CUI, TSX-V) to earn a majority interest in the Scadding Gold Property near Sudbury. Trueclaim started a Phase 2 drill program at Scadding in mid-January, so initial results may not be far off. A promising Phase 1 program produced multiple high-grade intercepts across significant lengths in holes throughout the five zones identified to date at this former producing mine, including 12.9 g/t Au over 19 metres.
It’s interesting to note that the volume has picked up significantly in Trueclaim over the last nine trading sessions. There’s more liquidity in this stock now, so we’re more comfortable presenting it in greater detail to our readers for their consideration and due diligence. The Trueclaim chart is looking strong (John is working on a chart analysis) and I recently had an opportunity to speak with company President John Carter. He’s a very focused, determined and upbeat individual, crucial qualities for the leader of any company. He has worked very hard at getting Trueclaim going and has assembled a quality team. Click on the link below to listen to the interesting conversation I had with John.
BMR Interview With John Carter (Trueclaim)
Trueclaim closed today (Tuesday) at 18.5 cents, down half a penny and just above its rising 100-day moving average (SMA). An important technical development is that the 300-day SMA (15.5 cents) is now reversing to the upside. The company has 67 million shares outstanding for a current market cap of $12.4 million.
Note: The writer and interviewer does not hold a position in Trueclaim Exploration. Please read our disclaimer. Trueclaim Exploration paid no fee or compensation of any sort for this interview in accordance with BMR policy.
Hi Jon, John Carter is on the Board of Directors of SSR.V (Silver Shield Resources) and they just optioned a gold property from Trueclaim today. SSR.V is the company I sent you to research – time permitted ofcourse. Cheers.
Comment by Daniel — March 1, 2011 @ 8:58 pm
Daniel, good pick. Nice looking chart on SSR. And still under a dime…
Comment by Jon - BMR — March 1, 2011 @ 9:08 pm
Excellent interview Jon with John Carter. He is a very impressive speaker and seems to be leading the Company very well. Will definitely have a good look at TRM and put them on the purchase radar.
Comment by Patrick — March 2, 2011 @ 1:35 am
Thanks Jon, yes SSR now has cash in hand to finally unlock their very promising Silver properties in Canada and Mexico since they are a pure Silver play. What is astonishing is that they are in 3rd phase exploration and since they are just now getting back on their feet from the 08 crash, the market is unaware of them so it currently is ground floor to get in. Your BMR followers could benefit greatly from an interview perhaps with Tim Towers of SSR and obviously they could use the publicity. I could give Tim a heads up if you’d like it’s up to you. Cheers.
Comment by Daniel — March 2, 2011 @ 4:25 am
Joe Dwek Management(Mineralfields/Pathway)is an insider in both TRM and SSR. Not too active in TRM but does trade large volumes in SSR is this a concern for you? Thanks.
Comment by Andrew — March 2, 2011 @ 4:57 am
Not a concern. JDM will help SSR along the way. What is needed is more eyes and interest and ofcourse more details on their exploration plans moving forward.
Comment by Dan — March 2, 2011 @ 5:55 am
Jon
re: Manitou, have you looked at their drill results so far? If so what is your opinion on what their potential is.
thanks
greg
Comment by GREG — March 2, 2011 @ 2:34 pm