East Asia Minerals* (EAS : TSX-V : $7.45), Net Change: 0.10, % Change: 1.36%, Volume: 368,427
Wild ride? In what was likely a fat-finger trade, East Asia tumbled to a low of $5.35 and then rapidly spiked 40% to a high of
$7.50. This may seem like a wild price swing for some, but East Asia is no stranger to massive rallies. In the last three months,
shares have more than doubled and now up more than 1,400% over the past year. So, what’s next for the Indonesia-focused gold
and gold-copper explorer? The company is expecting drill results (1 to 3 holes) to be released early next week. Drill holes
pending from Miwah, Indonesia: Hole EMD025 drilled from same pad as EMD024 (3.96 g/t gold over 111 metres, including
15.74 g/t gold over 22 metres), but on a westerly azimuth (55 deg dip) at visually less mineralized than EMD024. EMD026 is a
north-westerly step-out from EMD014 and drilled with a 310-degree azimuth and 50-degree dip, targeting the extension of
silicification to the north and east of the Miwah Bluff portion of the Miwah Main Zone. The company has suggested that it
encountered visually altered and mineralized rock from 104 metres downhole depth. EMD027 is being drilled at 180-degree
azimuth and 55-degree dip, to confirm thickness and test for gold grade variation in the high-grade vuggy silicification south of
EMD024 and north of EMD023 (1.3g/t Au over 90m). This should be a hole to watch. Canaccord Adams Senior Mining
Analyst Wendell Zerb is bullish on the story and believes East Asia's shares could continue to be driven by speculative
interpretations (no formal resources outlined) over the next several quarters as new results build on the size potential at Miwah
and the surrounding area.

New Gold* (NGD : TSX : $5.37), Net Change: 0.11, % Change: 2.09%, Volume: 2,263,010
Vote for Pedro. Shares of New Gold initially retracted Thursday on the Q1/10 production results, but the market quickly
changed its mind. The company reported quarterly production of 77,215 oz Au (sales of 80,072 oz Au) at net cash costs of
$472/oz versus Canaccord Adams’ estimate of 86,689 oz Au at net cash costs of $419/oz. Silver production was 206,700 oz
versus Canaccord Adams' estimate of 508,022 oz, while copper production was 4.0 mm lbs compared to Canaccord Adams’
estimate of 3.9 mm lbs. Based on these results, Canaccord Adams Precious Metals Analyst Steven Butler lowered his Q1/10
EPS estimate to $0.04 from $0.06. The operational shortfall and negative cost variance were driven by lower production at
Cerro San Pedro (CSP) due to the delay in the receipt of the blasting permit to March 18 and limited delivery of ore to the leach
pad and increased processing costs to maximize recovery on ore previously placed on the leach pads. The shortfall at CSP was
partly offset by better production at Mesquite and lower cash costs at Peak (ratio of copper to gold sales volumes and potentially
copper price). While operating results did miss expectations, Butler believes the market may have reasonably expected such a
result and more importantly, normal mining activity has resumed at CSP. Production guidance for 2010 has been maintained at
330,000-360,000 oz at a total cash cost of $445-465/oz. Butler is bullish on the shares based on leverage to gold, growth from
New Afton (H2/12) and the carried optionality to a likely improved El Morro project. Next catalysts: 1) Court decision
regarding Barrick’s claim on El Morro ROFR exercise; 2) Reinstatement of the EIS and full resumption of operations at CSP;
and 3) Potential improvement in feasibility study economics of El Morro.