Int'l Speculator says hold Full Metal Minerals

2008-12-29 18:14 ET - In the News

The International Speculator in its Dec. 3, 2008, issue, says hold Full Metal Minerals Ltd. (20 cents). The newsletter said buy four times between Aug. 1, 2006, and April 1, 2008, at prices ranging from $1.72 to $2.85. An investment of $1,000 for each of the four buys is worth a scrawny $349. The Speculator's writer goes over the press releases and notes that Full Metal has released more high-grade base metal results from its Forty Mile property (5.7 metres true width averaging 7.5 per cent zinc, 11.8 per cent lead and 167.6 grams per tonne silver). He says the company's best shot is to fast-track the Lucky Shot gold mine in Alaska into production. There was a private placement last September at 75 cents, but it has not closed yet, and the writer has doubts about how much money the company was able to raise. On the other hand, Lucky Shot is so high grade, and the amount of money Full Metal needs for immediate use is so small, the company should find a way to get the cash it needs. "We'll hold a little longer to see if they do." Fellow letter writer Brien Lundin said buy Full Metal in his Gold Newsletter five times between March, 2006, and August, 2008, at prices ranging from $1.19 to $2.55.