Wall Street News Alert's "stocks to watch" this morning are:
Supatcha Resources Inc. (OTCBB: SAEI), Goldcorp Inc. (NYSE: GG),
Hecla Mining Company (NYSE: HL) and Newmont Mining Corporation
(NYSE: NEM).
Yesterday after the markets closed, Supatcha Resources Inc.
(OTCBB: SAEI) issued a press release announcing that it has signed
a definitive agreement to acquire a 90% interest in the Barlevskoye
and Vynohradiv Gold licenses in Southwestern Ukraine from arm's
length third parties.
Supatcha will pay $7,500,000 and will issue 500,000 common
shares, in consideration for 90% of the issued and outstanding
shares of Poltavas Capital Management Ltd., a BVI Company which on
closing, will own all of the outstanding shares of Zolotivorota
("Golden Gate"), a Ukraine company which holds the rights to the
properties by way of two Special Permissions issued by the Ministry
of Environmental Protection.
The highly prospective Barlevskoye and Vynohradiv licenses are
located in the southwest Ukraine some 8 kilometers east of the
Hungarian border near the town of Mochola. The two licenses are
underlain by Neogene age volcanics in what is believed to be a
series of nested calderas. The mineralization at the property is
epithermal style gold, silver, lead and zinc (Au-Ag-Pb-Zn). Total
area covered by the properties is 11.667 km2.
The licenses are adjacent to the Berehiskyi license-deposit,
which recently underwent underground mining for gold from 1999 to
2006 by Zakarpolymetally (a local subsidiary of the local
government). The Berehiskyi License hosts a historic, near-surface
polymetallic deposit, which is reported to contain approximately
18,709,300 t of 1.88 g/t Au; 38.35 g/t Ag; 2.07% Pb and 4.76%
Zn.
The quoted disclosure for the Berehiskyi Gold Deposit was
disclosed publicly by Zakarpolymetally. The deposit information is
historical; it is relevant because it is indicative of a
mineralized zone adjacent to the Barlevskoye and Vynohradiv
licenses. The resource is based on drilling exploration and
development carried out by Zakarpolymetally (USSR GKZ approved
C1-C2 Soviet Category Resource). A Qualified Person (QP) has not
classified historical estimates as current mineral
resources-reserves, and Supatcha is not treating them as current
mineral resources-reserves since recent work has not verified the
historical estimates. Supatcha has not done any work, to date, to
confirm these estimates.
For complete details, please refer to yesterday's press
release.
Over the next several weeks, Supatcha is planning to review all
the historical information, re-log and possibly resample some of
the drill core from previous operators. We also plan to digitize
the drilling and underground data to confirm the historical
estimated tonnages and to confirm the known drill targets. It is
expected that the next surface drill program should be underway in
early spring of 2010.
Mr. Andrei B. Yasinskij is Supatcha's Chief Geological Advisor
and is the qualified person for the exploration and development of
the Barlevskoye and Vynohradiv Project. Mr. Yasinskij will be
responsible for all of the technical reporting in compliance with
NI 43-101.
The stock closed yesterday at $1.75 a share.
For an in-depth profile of Supatcha Resources,
visit
http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=SAEI_040510.
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Goldcorp Inc. (NYSE: GG) up 0.03% on 7.1 million shares
traded.
Goldcorp is the lowest-cost and fastest growing multi-million
ounce gold producer with operations throughout the Americas. Its
gold production remains 100% unhedged.
Hecla Mining Company (NYSE: HL) up 2.7% on 8.2 million shares
traded.
Hecla Mining Company headquartered in Coeur d'Alene, Idaho,
mines, processes and explores for silver and gold in the United
States and Mexico.
Newmont Mining Corporation (NYSE: NEM) up 1.7% on 5.5 million
shares traded.
Newmont Mining Corporation is one of the leading mining
companies in the U.S.
Market Commentary: The National Association of Realtors said
Monday its seasonally adjusted index of sales agreements rose 8.2
percent from January to a February reading of 97.6. January's
reading was revised slightly downward to 90.2.
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