February Update

New Additions

New additions to the portfolio, Gold One Int. (GDO.ax), and Atna Resources (ATN.to).

Whichever way you value these two, they are cheap. Both have had some set backs in 2010, but they have overcome, and are striding in the right direction, both technically and fundamentally. A full review of both to come in the next few days (I promise).

Timmins Gold Corp (TMM.v)

Bruce Bragagnolo still insistent for a merger with Capital.

Meanwhile, Capital has been desperately busy digging up any dirt on Timmins, for which their effort leaves much to be desired. Decide for yourself – http://www.capitalgoldcorp.com/investor_relations/images/february-14-2011.pdf

At least 35% of Capital’s shareholders have stated they will block the Gammon Gold merger, as they favour a Timmins merger. Sprott Asset Management for one, has major interests in both Timmins and Capital, and they would like nothing more than to see these two combined, to achieve a significant re-rating of the combined business entity.

Meanwhile, at Timmins San Francisco mine, they have a $21m drilling program in place for 2011. Critic’s of Timmins complain the San Francisco mine life is on the shorter side. The program should put their minds at rest. Also, Timmins has published some encouraging drill results from their newly purchased property 20km north-west of their San Francisco pit.

Carpathian Gold (CPN.to)

The market seems to have lost interest in Carpathian, as evident by their chart. They have recently acquired a mill and crusher which exceeds the plant’s requirements. From what I gather, it was acquired at a discount too. What’s also encouraging, is all key personnel have been hired at the Brazil mine.

We can look forward to results of a full feasibility study and an expansion of resources before the end of Q1 … Should hopefully give the price some momentum …

Be sure to watch the Mines & Money interview with Carpathian’s CEO Dino Titaro below –