Pinnacle Digest: Optioning of Kingurutik River Prospect Draws
Immediate Attention from Lead Mining Magazine
(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:04042008
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Recent news from Vulcan Minerals has led our team to conduct further
research in order to determine if we will select them as our next
Featured Company. Pinnacle members will be notified if we select them
as our next equity target. Although the Canadian markets are our focus
at Pinnacle Digest they are directly related to the American markets,
which is why we research both equally.
Vulcan Minerals Inc. (TSX-V:VUL) experienced an even day in the market
Thursday combined with over 10,000 shares traded. On April 3rd they
announced that they have signed a letter agreement to option its
Kingurutik River nickel/copper prospect in northern Labrador to Nortec
Ventures Corp. This news has justified a review by our team at Pinnacle
Digest as we believe it will have a direct influence over their short
and long term direction. Our team is analyzing the motivation behind
this decision and will be reviewing it in detail.
It was reported that Nortec will have the right to earn a 51% working
interest by incurring $1,500,000 of work expenditures and paying the
company $200,000 and 3,000,000 common shares over a four year option
period. To gain another perspective on this news, and to voice your
opinion in regards to this company come visit our complimentary online
financial investor community, at www.pinnacledigest.com.
All Vulcan Minerals shareholders are encouraged to share their thoughts
on this equity with one of North America's largest online investor
communities. Our team at Pinnacle Digest has just launched our brand
new site. Pinnacle Digest creates a snapshot of the market providing a
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US stocks rose for a third day this week as commodity producers spurred
a rally and Merrill Lynch gave assurance it has enough capital to stave
off bankruptcy from credit losses. This came only two days after Fed
Chairman Ben Bernanke finally acknowledged that the United States may
in fact be in a recession. On Monday it was reported that US markets
had posted their best start to a second quarter in 70 years. The
markets recent fall needs to be attributed to this. The TSX Exchange
has been relentless in recent days as it continues to rise.
Lower oil prices and an improved Treasury plan continued to help stave
off a financial crisis and added to sentiment and expectations the US
economy will sustain itself. We believe this trend will be difficult to
continue as last week US stocks fell for the forth time in five weeks
earnings continue to decline for financial companies. There are no two
ways about it; the markets still look very bleak and sentiment remains
extremely cautious.
The financial industry has helped the S&P 500 record its largest
quarterly loss since 2002. The markets had been showing life early last
week as many believed much of the wake of the credit crisis had been
reported. Commodity prices have been plunging lately as sentiment that
they may be overvalued hurt many valuations. Oil fell to just over $100
a barrel in New York Tuesday. Two Tuesday's ago US stocks rallied the
most in 5 years following the Fed interest rate cut which brought the
lending rate to 2.25%.
Gold stayed above $900 an ounce Thursday on sentiment the dollars rally
against the euro will soon stall. As sentiment begins to rally around
the US markets, the purchase and demand of gold as a hedge against
inflation is diminishing. The Dow exploded an absurd 391.47 points
Tuesday and continued to move up Thursday rising 17.11 points to close
at 12626.03. The markets are operating in tremendously volatile times
at the moment. This volatility must be understood and used to the
investor's advantage.
The Fed has once again cut interest rates. The interest rate has
dropped from 6% to 2.25% in just over a year. The TSX Composite rose
again Thursday to close at 13551.29.
The TSX and TSX-Venture exchanges are our focus at Pinnacle Digest.
Resource based companies operating in these exchanges are what our
research focuses on. Canadian stocks reported their first weekly gain
in almost a month as sentiment central banks in the United States will
cut borrowing rates to stave off a recession was prominent last week.
Canada's biggest fear is that a lack of credit will slow the global
economy and thus reduce the demand of materials. At Pinnacle Digest we
believe the global demand for many commodities will overpower any
economic turmoil in the United States. The fluctuation occurring within
this index is exceptional and keeping everyone on edge.
At Pinnacle Digest we feature four companies trading within the mining
and oil and gas industries. We invite you to visit our multi-purpose
online financial magazine to participate in our community and to
educate yourself further on the markets moving this company forward at
www.pinnacledigest.com.
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