I must start by saying that I'm a little leary of investing in explorecos. at this time; but Beatrix certainly is intriguing given its fundamentals.  I've followed the company prior to it being spun off from Bard as I have held shares in its JV partner at Opikeigan Lake for several years.  I also hold an indirect interest in this property as I worked on it as a geologist with Noramco Mining back in the late 80s...at the risk of dating myself.


Opikeigan undoubtedly holds promise given the drill results that it has generated in the past - results that include 6.2 g gold over 7 m, 49.66 g gold over 0.2 m, 113.57 g gold over 0.1 m as well as a mini bulk sample removed from the Fort Hope Gold Mine (part of the property) that yielded 8.8 ozs. gold / ton.  That being said, there are undoubtedly challenges to exploring the property, the main challenge being the pervasive overburden that covers most of the property, as well as the cost to drill this area of Northern Ontario.


The property that intrigues me the most is their Lower Seal Harbour gold property in Nova Scotia.  This historic producer (from late 1800s-early 1900s) is only 4 km southeast of Osisko's and Orex's Goldboro gold property that has a resource of approximately 3 million tonnes grading about 4.56 g gold / tonne.  The property contains numerous gold veins; and Beatrix has stated in its most recent MD&A that they are compiling data in preparation for a drill program, as well as intending on sampling the mine tailings and dumps.  Of course, we know what this means - lots of "bang for their buck".  For a couple hundred dollars, they'll go in, hand select a few choice samples from the dumps/tailings that will assuredly return highly anomalous gold values.  There's no doubt.  Assays will be reported, and the speculators will then "discover" the stock and create further price appreciation.


As well as the Lower Seal Harbour project, BXV also has the Uniacke gold project in Nova Scotia - another project that contains several gold bearing veins that they are currently compiling data for a future exploration program.


The company has a very small float of approximately 22 million shares with 7 million warrants exercisable at 10 - 12 cents.  It's thinly traded, and with such a small float, investors can expect volatility once news begins to flow.  It completed a financing in February, issuing 6 million shares at 0.06 / share.  Current insiders include Pinetree Capital and Sheldon Inwentash, holding 2,050,000 shares a piece as well as 750,000 warrants that expire May 19 of this year.  Consolidated International Investment Holdings (Pathway/Joe Dwek) also holds 1.4 million shares and 2.8 million warrants.  Eugene Beukman (CEO) has been actively buying shares (though small amounts) on the open market recently.


Now Dwek is notorious for "flipping shares", but apparently also for "creating a market" that enables him to do so.  With the BXV's current sp at only 0.025, there undoubtedly will need some price advancement, volume and momentum to do so.  A catalyst would sure help, and that catalyst could very well be expected assays from Lower Seal Harbour samples.  Again, with such a small share float and thin trading volume, any sp movement could be swift and sharp (to above 5 cents) easily propelling Beatrix above its current ridiculous market cap of approximately $700,000.


Like I said at the outset, I'm leary of investing in explorecos. given the current market conditions; but at these price levels and with its fundamentals, Beatrix presents an compelling oportunity.  If nothing else, definitely worth keeping on the radar.


Have a good weekend.