Tuesday, September 28, 2010

IKN's top tip of the day for filtering junior mining companies

Today's top tip:

NEVER INVEST IN A COMPANY THAT DOESN'T KNOW HOW TO SPELL THE NAME OF THE COUNTRY IN WHICH IT OPERATES

EXHIBIT ONE:
About Seafield Resources Ltd.
Seafield Resources Ltd. is a precious metals exploration company with assets located in Colombia, Mexico and Ontario. The Company's flagship project in Columbia is the Quinchia Gold Project, which contains a 43-101 compliant resource of 778,000 ounces gold.

Seafield (SFF.v) has those ounces. It has 95m shares out, a market cap of  $24.7m, cash at bank of $4m at end June. It has also been discarded as a possible chez Otto because life is just too short.