Other Miners that We are Accumulating

As medium term speculations in mining friendly jurisdictions are Exeter Resources (XRA), their Caspiche mine in Chile looks like it maybe a monster.

Andina Minerals (ADMNF) and Fortuna Silver (FVITF).

Remember we want:

1) quality management

2) quality projects

3) a friendly political climate

4) cashed up companies. We fear the credit crunch.

We have been buying in small slugs over the past few days.

We are for the bulk of our investments avoiding leverage to sub-Saharan Africa and Central Asia (the stans). We find ample opportunities and better property rights in Latin America.