The Gold Report 04/02/2010

TGR: Didn't you cover Magma in one of your newsletters?

BC: That's Magma Metals Ltd. (TSX:MMW; ASX:MMW). That's pretty interesting as well. It's an Australian group that made a platinum palladium discovery up near Thunder Bay, Ontario. They've got a resource. You know the company's probably at a fair valuation based on that resource. But the geologic setting is such that somewhere in the area they're working there is probably a major high-grade platinum palladium plus nickel and copper deposit. Finding that is going to be really tough. It may be impossible, but that's what they're going for. This is a stock we bought early on. We've sold a portion of it. We own it for almost nothing, and we're sitting there with the chance that if they find this high-grade deposit, we could have a 10-bagger. That's the sort of investment I like to do.