Great Panther – A Silver Junior with Giant Potential

Last Thursday, Sean Brodrick, contributing author of Uncommon Wisdom which is published by Weiss Research, Inc., had the opportunity to get together with Bob Archer, President and CEO of Great Panther Resources.  Sean knows Bob and several years back had the opportunity to tour the Company’s Guanajuato and Topia mines.  With everything that Great Panther has going on right now, it only made sense for Bob and Sean to reunite and for Bob to bring Sean up to speed on the Company and its opportunities.  The following is an excerpt from Sean’s report based on his meeting with Bob, a complete copy of which can be found here. 

“When gold and silver prices pull back, I like to buy precious metals and the companies that mine them — and you probably do, too. But when you get that pullback, what do you buy?

One that I like is Great Panther Resources (GPR on the TSX, GPRLF on the pink sheets in the U.S.). Great Panther is a Canadian miner operating primary silver mines in Mexico, with some gold and base metals also in the mix. I’ve visited their projects at Guanajuato and Topia in the past, and I was very impressed by what I saw. And last week I had lunch with Bob Archer, Great Panther’s CEO.

Recently, Great Panther has announced a parade of good news. Production is booming, mining costs are dropping, and the company has “blue-sky” potential in new zones it is exploring.”

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ECU Silver Highlights New Assays from Development Work

In a press release this morning, ECU Silver (TSX: ECU) reported assay results from more than 204 samples collected from development work on level 19, which is current the deepest level of the Santa Juana Mine on the main Velardena Property.  The assays included samples which were as high as 210 grams per tonne (g/t) of gold and up to 2,582 g/t of silver.

The Company is developing new mining areas at the Santa Juana mine and has so far drifted for over 500 metres along seven veins on level 19.  Assays, taken every three metres along the drifts, returned an average of 12.7 g/t gold and 305.4 g/t of silver over 0.62 metres for a total length of 531 metres.  The table below includes assay results on Level 19 drifts.

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Victoria Gold Announces Drilling at Summit

In a press release today, Victoria Gold Corp. (TSX-V: VIT) announced that (i) drilling had started at the Company’s Summit Gold Project; (ii) the first diamond drill hole has been completed to a depth of 529 meters; and (iii) the second drill hole was started this week.  As one would expect, the Company will implement the same exploration techniques it has used in the past to “vector-in” on the areas of highest potential at Summit.

Centered within the Summit property is a Carlin-type gold system. A small part of this mineralized area hosted the site of over 120 holes drilled by previous operators to an average depth of 95 m. About 70 of these holes were drilled in a smaller area containing higher-grades of gold, which produced about 8,800 ounces at a grade of 8.22 g/t in open pit mining in 1988 and 1989.

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Saudis Drop WTI Oil Contract

By Javier Blas in London

Published: October 28 2009 20:27 | Last updated: October 28 2009 20:27

Saudi Arabia on Wednesday decided to drop the widely used West Texas Intermediate oil contract as the benchmark for pricing its oil, dealing a serious blow to the New York Mercantile Exchange.

The decision by the world’s biggest oil exporter could encourage other producers to abandon the benchmark and threatens the dominance of the world’s most heavily traded oil futures contract. It is the main contract traded on Nymex.

The move reveals the growing discontent of Riyadh and its US refinery customers with WTI after the price of the price of the benchmark became separated from the global oil market this year.

The surge in oil inventories in Cushing, Oklahoma, where WTI is delivered into America’s pipeline system, depressed the value of the WTI against other global benchmarks, throwing the global oil market into disarray.

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Gold ETC Slow to Take Off in Gulf

DUBAI, Oct 28 (Reuters) – The Gulf region’s first gold exchange traded commodity (ETC), a new investment vehicle launched earlier this year, is seeing only modest growth due to regional unfamiliarity with the product.

Grant Collins, senior managing director of the Dubai Commodity Asset Management, said the security was also hampered by a trend for bullion investment in the Middle East to come from individuals rather than institutions or funds.

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Biomoda Prepares for Phase III Clinical Trials

ALBUQUERQUE, N.M.–(BUSINESS WIRE)–Medical diagnostics company Biomoda, Inc. (OTCBB: BMOD – News) is taking preliminary steps to launch multisite Phase III clinical trials of its in-vitro diagnostic for early-stage lung cancer, trademarked under the name CyPath®.“As the Phase II trial wraps up, we are making sure that all the pieces are in place to move immediately to a nationwide Phase III,” Biomoda President John Cousins said. “Most significantly, Dr. Thomas Bauer, the Principal Investigator (PI) overseeing Phase II, has agreed to continue in the same role for our Phase III trials. Dr. Bauer is widely recognized as one of the top lung cancer researchers in the field, and we are privileged to be working with him.”

Bauer, chief of thoracic surgery at the Helen F. Graham Cancer Center, Christiana Care Health System, and head of Christiana’s participation in the International Early Lung Cancer Action Program (I-ELCAP), is coordinating site selection for the final phase of testing on the CyPath® assay. Bauer’s work with Biomoda follows the I-ELCAP Enrollment and Screening Protocol, and all sites selected for the Phase III trials will be I-ELCAP approved.

GeoPetro Resources Due Diligence Luncheon (Part II)

In Part I of last week’s due diligence luncheon presentation, GeoPetro discussed in detail its Madisonville Project.  In Part II released today, the Company describes its other “Company Maker” projects including its Lokern Project located in the San Joaquin Basin, California.  The Lokern Project is adjacent to Occidental Petroleum’s recent discovery which has an estimated resource of at least 150 to 250 million barrels of oil equivalent.  The upside potential is exciting, learn more by clicking on the picture below.

Investment to Drive Gold Price to $2,000-$3,000 or More but Only Over a Few Years

Gold guru Jeff Nichols, in his latest presentation to a Far Eastern audience at the Gold Outlook Asia conference in Hong Kong last Thursday, made some very pertinent points regarding gold and the U.S. and global economy – the two being very much interlinked.

Some of his particular comments were as follows:

• The root cause of the current world economic crisis has been decades of easy money, low interest rates, a persistently expansionary monetary and fiscal policy by the U.S. — aided and abetted by China and the other major Asian exporting countries. 
• These same policies are now responsible for the bull market in gold — a bull market that will likely to carry the metal into the $2,000 to $3,000 range or even higher over the next few years, but not immediately.
• The U.S. economy is showing signs of life only because of massive injections of liquidity from the Fed and unprecedented fiscal stimulus from by the U.S. Treasury along with a temporary period of inventory restocking.  
• There remains a significant risk of a “double-dip” recession with further contraction and a second down-leg in U.S. equity prices yet to come. 
• In lieu of paying down America’s huge debts, we can expect currency debasement and higher rates of inflation to reduce the real value of its debts at home and abroad.  And, with higher inflation and a depreciating dollar, gold will likely continue its spectacular rise.

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Gold Blast-Off Starts Friday?

There are two significant events this week that could exert pressure for higher gold prices. Because of this, I expect to see major behind-the-scenes actions to try to suppress gold (and silver) prices until the middle of Thursday afternoon.

First, the U.S. government’s Treasury debt auctions will sell the greatest amount of debt ever sold in one week. The net debt increase of $153 billion is so high it will exceed the current authorized federal debt limit. Flooding the financial markets with so much debt is a sign of weakness for the U.S. dollar. As the dollars declines in value, the price of gold in U.S. dollars invariably rises.

Second, we will also see the expiration of options contracts in two days. If the spot price at the close of trading on the day that gold (and silver) options contracts expire is higher than the contract price on a call option, the owner will exercise the option to demand immediate delivery of physical gold. The higher the price of gold, the more call options that will be exercised. Conversely, a lower gold spot price will reduce the demand for gold for immediate delivery. There is a major block of call options at $1,050, so expect prices to stay below that level through Wednesday night.

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Biomoda Names New Corporate Secretary

In a press release this morning, Biomoda, Inc. (OTCBB: BMOD) announced that Maria Zannes will serve as the Company’s Corporate Secretary.  Zannes brings more than 30 years of experience in the environmental and energy industries where she worked in multiple capacities, including federal lobbyist and company president. Formerly president of a national waste-to-energy trade group in Washington, D.C., Zannes currently consults for private clients in the medical, energy, and environmental industries. She is a research associate for Columbia University’s Earth Engineering Center and a member of the Board of Directors of American Homecoming Foundation, a non-profit organization focused on providing assistance to homeless veterans. She was a legislative aide and press secretary to U.S. Rep. Charles Wilson (D-Texas). Zannes is licensed to practice law in Washington State and New Mexico.

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