Formation Capital Corp (FCO.TO)

Good spec play

The Gold/Silver Ratio Chart favours silver over gold. Has been basing for the past several months. Could be called a little bit of a Head/Shoulders Bottom. Starting to bust out now and the volume is quite large. Also has uranium besides silver.

A pure play on cobalt. Cobalt prices are still firm at about $20 a pound. Looking to mine in Idaho and are looking for permitting. Doing a new issue to raise money. In the long run, the asset looks good, but you have to ask yourself, how many times are they going to have to dilute the number of shares. Also, who will they sell the cobalt to?

Pure cobalt play. Seem to be on the threshold of going into production. Good management. Has appeal long term, but it's such an old story around the junior resource market, it will need the whole junior resource market to rise before being able to get new players.

Has a very dedicated management team. Cobalt is its main assets. Have done a tremendous job to stay afloat. A worthy speculation.

The only major cobalt producer in North America. Not much downside risk. Could double once they get into production.

(A past top pick Jan 14/04. Down 8%.) Cobalt has gone from $10-$30. A neat little story that's not widely covered. Could be some selling in the next couple of weeks.

A pure cobalt play. Could cash flow a dollar a share. Risky, but worth a shot.