Bowmore Exploration BOW (TSX – Venture) – Gold Miner In Mexico Attracting Smart Money

by Olivier on August 13, 2009

Bowmore Exploration – BOW.V is my newest portfolio position. As the title of this posting implies the reason I bought is because the chart looks compelling. An additional and equally important reason I bought in is the fact smart money bought this one like crazy. OSK.TO – Osisko Mining took part in the last private placement and on a fully diluted basis and after warrants are exercised OSK.TO will own slightly less than 50% of the company. This is a huge plus as it reduces the free float significantly and odds BOW.V – Bowmore Exploration might end up getting bought out are rather high. Money shouldn’t be an issue as GG – Goldcorp this week bought a huge chunk of OSK.TO. OSK.TO might end up being bought out by GG. We are not there yet. But smart and big money is involved. The technicals and the compelling story is reason enough for me to start a position.

Here are the grab sample grades from BOW.V’s website:

SW-trending west far end of the wall (15 samples):
Minimum: 0.3 g/t Au, 0.14 % Cu
Maximum: 17.2 g/t Au, 1.5 % Cu
Average: 4.6 g/t Au, 0.63 % Cu

South-trending adit (6 samples were taken):
Minimum: 0.01 g/t Au, 0.01 % Cu
Maximum: 27 g/t Au, 1.0 % Cu
Average: 7.1 g/t Au, 0.53 % Cu

WSW-trending main adit (17 samples):
Minimum: 0.1 g/t Au, 0.2 % Cu
Maximum: 51.50 g/t Au, 4.27 %Cu
Average: 5.86 g/t Au, 1.23 % Cu

Here’s the website info about Robert Wares.

Robert Wares, Director P. Geo.
A geologist with over 25 years of experience, currently Executive Vice‑President, Chief Operating Officer and a director of Osisko Exploration Ltd., a mineral exploration and mining company listed on the Toronto Stock Exchange, since March 2006 Director of Augusta Resource Corporation, a mineral exploration company listed on the Toronto Stock Exchange, from 1999 to present, also a director of Sargold Resource Corporation and Wildcat Silver Corporation Mr. Wares also has a Bachelor of Sciences in geology from McGill University. Presently a director of the Quebec Order of Professional Geologists.

It’s people that make mines. They find the right places and are able to attract enough money to ultimately build a mine.

Here’s my technical analysis take on BOW.V – Bowmore Exploration. Once the stock breaks out to the upside the 1.00$ level should act as a magnet and be the first price target. If drill results are good we could have a 2.00$ stock in the making.


Follow the smart money.

Have a great evening!

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