Angkor Gold in Cambodia: Poisson d'Avril 2013

PHNOM PENH -- April Fish in France is serious biz on April 1. Some say the idea of tricking people has its origin in France as April Fish Day. I know about it because the kids went to French school for much of their education. It is called Poisson d''Avril, and as I write this on my way back from Cambodia, I wonder what kind of fish I will see slapped onto my back.
 
At any rate, no fish here in this report. (Although please see image here attached.)No fooling, Some folks visit Cambodia for the fresh water dolphins that flip along the Mekong River near the town of Kratie. That''s a few hours'' drive from the capital of Phnom Penh. Others come for the temples at Angkor Wat.
 
I come for the gold. For a new business proposition from one of Cambodia''s leading Australian  businessman. (More on that later for those who are interested.) And the promise of fresh cash from Angkor Gold property transactions and farm-ins these coming weeks or months. Plus: a larger concession package; three fresh concessions are in the negotiation stage with the Ministry of Industry, Mining & Engineering.
 
In addition: new India and China partners already have ponied up cash this year and late last year. See the press releases. Mike Weeks, CEO, and his team here promise me a cash-flow positive 2013 and no -- repeat, no -- dilution of the current tight share structure for at least the remainder of 2013, and perhaps longer.
Mr. Weeks, an Alberta-bred oil-gas negotiator and deal maker who has worked extensively in North Africa, hints at the chance that we might see some energy concessions come free in Cambodia. That is just a bonus, if Angkor were to get involved. I have no opinion on that end.
 
Back to the gold, copper and some silver. Andong Meas, Oyadao, Okalla, Phum Syarung and other concessions and prospects, five fully licensed tenements in all, are in most cases showing good to excellent grades via diamond-drilling, channel sampling and other assay methodologies.
 
The country''s commercial evolution is evolving quickly and includes stringent anti-corruption laws and a fresh civil code and emerging stock market. The economy''s growth is above 5 percent and the local currency, the real, is holding par and even advancing against the USA dollar and some SE Asia currencies.
 
This city, this country, is booming. Real estate, both residential, commercial and office, is sprouting. New roads, water ways, factories, you name it.
 
New: The company''s social commitment is central to the strategy of expanding its control of concessions in Cambodia. I have seen this in action, and I also intend to be a donor to the private ANK foundation that Mike and Delayne Weeks operate in Cambodia. None of the just -formed foundation''s funds come from the parent company. Mike Weeks, CEO, dedicates part of what I think is a small salary compared with most junior miners to the foundation.
 
We repeat here our weekend report. I am on the way home from Phnom Penh after a week of viewing Angkor Gold''s (TSX: V.ANK, Stock Forum) properties for a second time in a year. I own about 151,000 shares of the company at present. My average for ANK (in Canada) is probably in the low-40 cent range. (The estimate stated below of an average of 35 cents is too low. In the past year, I have bought the shares as high as 60 cents Canadian in the open market and last year, threw in the towel on about half my position at a loss and sold as low as 26 cents. I know, shame on me. This is the first time we are including ANK in our list of coverage.)
 
I will be purchasing more ANK shares and I am placing the company on our list of target investments. As stated here, I bought more shares at 40 cents or so Canadian some two weeks ago. I look to boost my holdings to about 400,000 shares in the open market.
 
Notes: For new subscribers, our list of target investments also include Atico Mining, Colt Resources, Gold Standard Ventures, NuLegacy Gold, Seafield Resources, Pilot Gold, Gran Colombia Gold and Solvista Gold. One of them will come off the list this week. In addition to those, we shall continue to report on highly speculative candidates.
 
I am, as stated below this past weekend, entertaining doubts about the state of a recent proposed financing from Colt Resources. A financing to a Hong Kong entity was delayed. I find the reason, something to do with Chinese New Year, cryptic. I have not been able to learn the name of the fund entity. The chairman of the company (GTP in Canada) has a connection to Hong Kong finance in some way, if you read the Colt press releases.
 
I really want to believe in the promise of Portugal gold and tungsten, having seen the two projects. CEO Nikolas Perrault today Monday (April 1) tells me only that he is purchasing shares of his own company in the open market (see third week of March insider filings on about 70,000 shares) and that he intends to purchase more.
 
All will become clear soon, he says. That does not satisfy me in this continuing dumpster market for metals equities. I have no intention of selling my stake in Colt at the present time. If and when the company does come off the TCR list, I will hold my shares for at least two weeks after the fact. The stock is down to about 25 cents from our original coverage in autumn 2012 or so, when the shares were about 40 cents. Needless to say, I am losing money on it. As is the TCR audience.
 
We shall learn more this week, Mr. Perrault says. I will be happy to see the 45-cent financing completed at 45 cents to that Hong Kong entity. (See link below to press release.) That will be enough to keep GTP shares on our list.
 
Finally, as a courtesy to those who followed my Stockhouse and original Ticker Trax coverage from as far back as four or more years ago, I am still holding the remaining 2.2 million or so Bellhaven Copper & Gold shares that I own. I shed about 100,000 shares, as reported, at a steep loss earlier this year after becoming impatient with CEO Patrick Highsmith and the amount of time it took him to complete a pact to explore an extended part of La Mina in Colombia: AngloGold Ashanti''s La Garrucha prospect. I await to hear more about that porphyry prospect in the way of assays, and just as importantly, about where BHV stands in terms of its pending concessions in Panama, including the high-sulfidation gold and copper prospect at La Pitaloza, which I have seen.
 
Any and all movement in Panama will double BHV share price overnight, but I have been saying that privately for more than a year now. Julio Benedetti, the founder of Bellhaven and its current president, is an active businessman, hotel owner and economic geologist in Panama. Julio went to the Colorado School of Mines and was central to the discoveries and development of Cerro Quema, now operated by Pershimco, and of the vast Santa Rosa and Remance gold and copper prospects in Panama.
 
Bellhaven is not part of our regular TCR coverage and never has been. It is highly speculative. I assisted for no compensation in the transition of the Panama prospector to Colombia several years ago.
 
Notes: I believe shares of NuLegacy Gold (NUG) are under accumulation by overseas interests (outside of North America)> I have no confirmation. ... I believe we will be seeing fresh news, perhaps assays, from the Caramanta porphyry deposit in coming weeks at Solvista Gold (SVV). ... My entire portfolio holdings are available by ticker, as always, under the Stockhouse portfolio function under tcalandra. I have no relationship with Stockhouse and always am grateful when the Canada publisher is kind enough to distribute my work. ... We will be raising the price of TCR yet again to $85 from its current $75 in coming weeks.
 
Sourced : Stock House