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TICKER: TSX-V:PXP DESCRIPTION: Pitchstone is actively exploring for uranium in four proven districts. The property portfolio features eight projects in the eastern Athabasca Basin, Saskatchewan, five of which are joint ventured with sxr Uranium One Inc., with the other three being 100% owned. In addition, there are five joint venture projects with Triex in the Hornby Bay Basin, Nunavut and NWT, an exploration partnership with Cameco and Motapa Diamonds in the Franceville Basin, Gabon, and an option on three projects in Namibia. Pitchstone has a unique group of geologists with extensive uranium exploration and production experience. WEBSITE: http://www.pitchstone.net The information below is based on the most recent information we have received from analysts and the companies participating in The Gold Report. We encourage you to visit the company's web site for updates. "Pitchstone Exploration Ltd. is in the Cigar Lake District and has some of the best uranium guys in the business. I love this company and still own it. In fact, I own all of these stocks I've mentioned. Two years ago I recommended it at C$1.28. It's been as high as almost $4.00. We thought it had gotten overvalued, and advised our readers to lighten up on it. Pitchstone recently hit our stop loss (-15%) and it is a shame, but I teach discipline in investing regardless of all of the hard fought research we conduct. Fifteen is a pretty tight stop on these juniors, but the reason I do it is because the market knows better than any of us, and to teach self-control while investing. These juniors can move wildly up and down. If you’re speculating—and that's what I believe juniors are for—you should always maintain your capital as much as possible. If something goes awry and a stock falls off 15%, we put a sell on it, even though our primary reason for buying the company may not have changed. In fact Pitchstone is better than ever; the balance sheet is better; the drill results are better; and the assays look good. " (4/18/08)
- The Gold Report Interview with David Morgan |
