What a few volatile days in the stock market, no one knows what the next day will bring and what stocks have more potential from here. One thing is for sure though, food prices are still high and will stay high as long as we have growing population and increasing demand, corn, soybean....you name it, and with the growing demand you get a growing demand of fertilizers like potash, urea and phosphate.
it is a fact that Mosaic are closing their phosphate mine in the wetlands in Florida,
http://www.icis.com/Articles/2011/07/19/9478675/corrected-us-mosaic-seeks-new-sources-of-phosphate-as-litigation-continues.html, it is a fact that the kapuskasing phosphate mine owned by Agrium is shutting down in 2 years time
http://www.resourceinvestor.com/News/2011/6/Pages/Feeding-the-Worlds-Hunger-for-Phosphorus.aspx.this can create shopping spree for phosphate mines around north america, and there is not a lot of them. One of the nice deposits is in Quebec, D'Arianne has a 300 million ton deposit in Quebec, 50km away from that lies a nice deposit in early stage that has the same magnetic survey as for DAN, Glen Eagle resources had an early grab samples which returned very promising data, they are waiting on more results soon, from what I hear, the deposit is huge and the geologists are very excited, diamond drilling is to start very soon once they get the propper permits.
They have a lithium deposit that is nearby Canada Lithium which is building a mine for lithium carbonate production, they are currently conducting a full feasibility study which should be ready by next summer for the processing of 15,000 tons per day of Lithium oxide to produce lithium carbonate, they are drilling a 2.2 km zone in the coming months which should extend the deposit expotentially.
the company shares are tightly held, out of the 39 million shares outstanding, there is 13 million owned by management and friends, the company has a market cap of less than $19 million and has $2 million in the bank from recent financing. the symbol is GER.V
Aside from the advancement of the 2 very exciting projects, they will own 4-6 million shares of KGH, keygold, which are drilling for gold in Quebec as well. Glen eagle has a lot of potential on both projects and will benefit from any any developmenet of both CLQ and DAN deposit and share price, exciting days to come.
If you do not own GER, keep it on your watch list, I am very confident that you will be delighted with the appreciation of the share price in the days to come.
p.s. to join my group and get a updated list of what to buy next, please join at
http://www.stockhouse.com/Groups/GroupInfo.aspx?g=501869/10 wins so far this year, just ask :)
