BCMetals Update

BCMetals, high trade so far today of $1.49

It has doubled since I first reported on it in February 14th of this year. There is still lots more upside.

BCMetals has enjoyed a quick run up in price over the last 2 days based on the prospect of a joint venture partner with deep pockets possibly coming on board to help fund the builing of the Red Chris mine. The joint venture partner is GIJCM, based out of Hong Kong. If the Joint partnership should pass this would eliminate the need for BCMetals to issue stock to fund the project and avoid dilution of the current shareholders position. However, the current shareholders will still loose some of their gains as GIJCM will require a return on thier investment at the expense of the shareholders. That being said I think this is a good development for the stock and we await the confirmation of the US$110 million financing being arranged with Investec Bank. Once the bank financing is arranged this should make for another big jump in the stock price. WE ARE IN THE MONEY ON THIS ONE FOLKS!