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Silver Wheaton Corp. Message Board

  • JohnnyCanuk JohnnyCanuk Aug 17, 2005 10:19 PM Flag

    A little bit about Bear Creek ...

    As we all know, SLW acquired about 4.5 million shares of Bear Creek (BCM.V) for about CAD $12 million ... at the closing price today of CAD $3.39, SLW is up about $1.6 million on that investment so far ...

    But I doubt if SLW acquired the shares for short term trading purposes, otherwise the symbol would be changed to "SLW.jc" ...

    Bear Creek is exploring a silver/gold property in Peru and initial drilling has been quite positive and although still early, it does appear to have good potential but a lot more drilling will need to be done ...

    The company recently raised about CAD $10 million so it is adequately financed to move forward ...

    What first attracted me to Bear Creek was not so much the property, which as I say is still fairly early stage, but the intangible attached to the company ... and that is the management and specifically Catherine McLeod-Seltzer ...

    Here is brief summary ...

    "Catherine McLeod-Seltzer began her mining finance career in 1985 in the Yorkton Securities Santiago office, where she focused on Latin American mining opportunities. In 1993, she co-founded Arequipa Resources Ltd., a gold exploration company operating in Peru. As President and CEO, she was responsible for raising over $34 million, and was instrumental in orchestrating a $1.1 billion takeover by Barrick Gold Corp. in 1996. Currently, Ms. McLeod-Seltzer is President and a Director of Pacific Rim Mining Corp. and is Co-Chair of Bear Creek Mining Corp. She is a also a Director on the Boards of several other mining companies, including Silver Standard Resources Inc., Miramar Mining Corp. and Peru Copper Inc. To date, Ms. McLeod-Seltzer has raised in excess of $75 million for mineral exploration."

    With that type of management now backed by SLW and indirectly by GG, I suspect Bear Creek may turn into something good for SLW holders ...

    (No, I do not own any Bear Creek, lol ... )

    Good trading ...

    jc

 
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