For a second one from me I will choose a name that says it all, and go shout Eureka.
Eureka Mining Epic : EKA
Offer : 106p
Why ? Molybdenum prices are high, and likely to stay high and move higher as Moly is in demand and its not going away, its the future Hi Tech metal. EKA will be in production of Moly in Q1 06, and that means cash generation, as that time nears and when it happens, the present price should undergo a decent re-rating.
The other upside too is the Chelyabinsk copper mine, its economic to produce as per the last update, and we might get news soon that EKA has taken up the remaining license percentage to have it 100%.
Back to the Moly, potential for very large upswing when EKA is producing and selling Molybdenum and generating cash from it, and that is not too far down the line with a company target of within Q1 2006. Mining stocks are becoming less in favour until they produce, and then when they produce the goods, they become in demand on that proof, well, soon EKA will be producing and soon its time will come.
