Found this from The Midas Letter.....

SILVER QUEST RESOURCES
LTD.
(TSX.V:SQI)
Shares Outstanding: 87,635,868
Warrants & Options: 12,705,459
Fully Diluted: 100,341,327
Market Cap@$0.63: $55.2 million
DISCLOSURE: We do not own shares at this
time.
STRATEGY: Accumulate to $1.00.
EXIT: 50% at $2.00, let the rest ride until
either $10 or the stock loses more than 25%
in any given week.
I shared a plane trip from Toronto to
Vancouver with Silver Quest Resources Ltd.
CEO Randy Turner, which was our first time
meeting each other, and one of those
serendipitous developments that make life
such a remarkable thing at times. Iʼve been
growing more and more bullish on Canadaʼs
Yukon as it is shaping up to be one of the
planetʼs next major gold production areas.
More and more, companies are discovering
increasing numbers of gold deposits, which
are attracting the attention of mid-tier and
major gold production companies, as
evidenced by Kinrossʼ acquisition of
Underworld earlier this year.
Four and a half hours on an airplane is plenty
of time to get an in-depth explanation of all of
a companyʼs activities, and coming from the
guy who knows it best, I was not at all
disappointed.
Near Term Value Drivers
Silver Questʼs principal property holdings are
the Capoose, Davidson and 3Ts projects on
the Nechako Plateau in British Columbia and
the Boulevard, Prospector Mountain and
Dawson Range projects in the White Gold
District in the Yukon, where it currently
controls over 86,000 hectares, making it one
of the Yukonʼs biggest
landholders.
Two of the B.C. projects are
very advanced. The company
completed a 10,000 meter drill program on
the Capoose project this year, 24 of which
still have yet to be reported, which will give a
lot of forward momentum to the stock
throughout the winter months. Capoose
already has a NI 43-101 1.3 million ounce
gold equivalent inferred resource (itʼs a
predominantly silver deposit), and the
additional drill results will only add to that,
bringing the project into a prefeasibility state
of advancement. This resource was
calculated using $1025 per ounce for a gold
price and $15.50 an ounce silver price, so
right there, one could safely calculate (on a
non-43-101 basis, of course!) an additional
30%. The company plans to update the
existing NI 43-101 on Capoose in Q1 2011.
Additional drill results will be coming from the
companyʼs Boulevard and Prospector
Mountain projects in the Yukon.

But the really big big deal with Silver Quest,
which is completely off the radar, is the
companyʼs Davidson project, which it
optioned to Richfield Ventures Corp.
(TSX.V:RVC) who, since acquiring it in 2009,
changed the name of the project to the
Blackwater, or, officially, Blackwater
Davidson.
Recently Richfield has been experiencing
some knock ʻem outta the park drill results
from that project, like 171 metres of 3.13
gram per tonne gold announced just two
weeks ago, 171 metres grading 1.04 gram
per tonne gold, including 15 meters at 5.86
grams per tonne gold.
These results have carried the shares of
Richfield from $1.00 a share in July to nearly
$5 a share as of this writing – a 500%
increase.
Whatʼs been missed by the market at large,
and which for you, dear subscribers, is
nothing short of a major opportunity, is the
fact that Silver Quest has a 25% participation
interest in the project. Since the spectacular
drill results, Silver Questʼs shares have
appreciated not at all. When the market finally
clues in that Blackwater is actually Silver
Questʼs Davidson project renamed, that alone
should be enough to take Silver Questʼs
shares quite a bit higher. Thanks to the
market oversight, Silver Quest shares are
undervalued on that basis alone.
The Yukon Property Portfolio
Silver Quest is such a prolific accumulator of
properties in the Yukon that Iʼm not entirely
sure Iʼm 100% accurate when I say they have
a total of 20 different properties in the Yukon.
Most of these are highly prospective early
stage greenfields holdings, but there are 3
that are advanced: Boulevard, Prospector
Mountain, and Keno.
The Keno property is particularly interesting
for its extremely high silver grades, having
produced silver grades as high as 230
ounces per tonne of silver. (That was
however, in 1931). There is a historic
resource estimate extant on the Formo Group
portion of the claims from 1965 of 39,900
tonnes at a grade of 548.5 grams per tonne
of silver, or 16 ounces per tonne.
Given the companyʼs huge property portfolio,
and its focus as a project generator as
opposed to a developer, it is not presently
focused much on this little gem, though it is
entertaining offers for joint venture
partnerships.
The Prospector Mountain property could be a
near term value driver for the company, as an
8 hole program that began on September 9
(11 were planned, but the snow flew early)
are currently at the lab awaiting assay. These
holes were poked into the recently discovered
1,000 m long by 550 m wide Bonanza Zone,
defined by significantly anomalous soil and
rock geochemical values.
And there are also 14 holes coming from the
Boulevard property, for a total of 3,006
metres. A press release on September 15
reported in that gold mineralization had been
intersected, with up to 23.90 metres of 0.79
grams per tonne of gold, including 6.26
metres of 2.11 grams per tonne of gold.
So you can see why Iʼm excited about Silver
Quest I hope. It has got so much going for it
already, and so much coming in the way of
drill results, and I didnʼt even get around to
the Ontario properties, of which there are two.
The share price may be under pressure by
the soon-to-be free trading 11 million plus
shares from the August $8 million financing.
But good assay results could also just as
easily cancel that effect.

My note....

I went back on that financing that was mentioned.........

The financing could allow up to 6 mill shares to come to market,or any portion....up until Dec. 27.....so if your're a believer in the prospects of the company and any shares coming to market cause any weakness in share price,poss. this might represent a good buying opp. but def. do your own DD as this is speculative investing as always.