IKN

Fortuna Silver (FVI.v) up 8.6% at $1.01 and did hit $1.07 briefly. If you listened to your table-banging Otto when this stock was floating around in the 50c to 60c range and picked up a few, it’s time to take some profit. We’re now at the point where the market cap is close to 1.0X NAV. At current metals prices the company will do just fine and is solid, but it’s not going to make much profit in 2009. Also, the thing was pumped by Proactive Investors this week in an article that didn’t bother to mention to its sheep the 2008 hedge is now all done and 100% of Zn and Pb produced will be sold at present spot prices. We still like this stock just fine, but profit taking is the wise course here. If it drops significantly it’s one to buy back, for sure. DYODD, dude, and remember it’s a site sponsor.

Los Andes Copper (LA.v) UNCH at $0.065. LA.v came out with this PR today that announces its options payment have been spread out to make them easier to pay. This is good news. There are worse pennycrappers out there, but if you buy you’ll be betting that copper recovers more quickly than I personally think it will.

Amerigo Resources (ARG.to) up 4.7% at $0.335. Same copper story as LA.v, but this thing is well managed and has said it now has cash costs down to the $1.50/lb or so range. You need to take a good look at its operations because this is no ordinary dig-it-up-and-process mining operation.

Gold Reserve (GRZ) UNCH at $1.06. GRZ yesterday released the worst PR I’ve seen in ages which should have been entitled “We’re Desperate and Grasping At Straws”. Perhaps the retail world would have dissected it for nutrition, but I can assure you that the larger holders of GRZ have been wincing with embarrassment over the attitude taken by GRZ management. I bought GRZ today because I now believe RML.v will be successful in its hostile bid and i’m looking for a quick flip profit. DYODD and don’t bother with the hatemail this time just because somebody dares to have a different opinion than yourself, Vzla nutbars.