Thursday, October 20, 2011

NEW PICK! Edgewater Exploration (TSX.V - EDW) - Can you say UNDERVALUED??

I've been following Edgewater Exploration (TSX.V - EDW) for a while now and have been absolutely astonished by how low the stock has traded recently - $0.50 close today, down 60% from its year high of $1.40

View Stock info here

Why I like this deal:

1) $10,000,000 in cash

2) Resource Estimated M&I 325,000 oz of Gold and 1,149,000 Inferred*  View Fact Sheet

3) Blue sky potential from Ghana property, with Kinross as a large player in the area already having a sizeable investment in EDW - View Detail

4) Drill program under way with results expected soon

5) Only approx 62,000,000 Net Shares Outstanding giving this a Market Cap of only $33million?!?

So with all this Cash, Resource and Blue sky upside, you'd expect this deal to be trading $1.00+ right?? WRONG...

In my opinion, this company is poised to be discovered by the masses at any point, and has all the makings of a huge winner.

As always, please do your own research, read my disclaimer at the bottom on the page, and let me know what you think!!!

Happy trading

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