I gave this the once over and I don't see any obvious red flags. Info on their web site was comprehensive and easy to find. Mgmt. seems to be focused on cost control, which I'm sure is what did in their previous incarnation. On the insider activity, I don't see huge dollar amounts, and you can expect some insider buying aimed at inspiring confidence after a reorganization and financing, so I don't put too much weight on that.

I don't see a Magic Pony though. A Magic Pony is, for me, something that really stands out about a company and separates it from the herd. It could be the former CEO of a successful co. on board., a novel theory on where to look for minerals, a major player (Goldcorp, Agnico, Yamana, etc) taking a stake, or simply a top pick from someone with a good record, like the Coffins, M. Fulp, Roulston, etc.

Given the number of co's vying for our attention, it's always wise to look for that pony. This is an industry with a very high failure rate, and beyond weeding out the genuine players from the BS artists and scammers, we need that Magic Pony if we want a good risk/reward ratio.

ebear