Three Juniors With Above-average Prospects

Article Excerpt

CELTIC MINERALS $0.31 (Toronto symbol CME; SI Rating: Start-up) (403-261-2890; www.celticminerals.com; Shares outstanding: 73.8 million; Market cap: $22.9 million) has as its main asset a 100% interest in the Kingurutik property, 85 kilometers northeast of Vale Inco’s Voisey’s Bay nickel mine and property in Labrador. In addition, Celtic holds other interests in the area plus other nickel prospects in Quebec and Newfoundland. Celtic is still a long way away from outlining a mineable deposit. However, nickel formations typically appear in clusters, so the proximity of Celtic’s Labrador properties to the Vale Inco deposits adds to its speculative appeal. The company recently raised $4.7 million in a stock issue at $0.55 a share, so it has lots of funds for its exploration programs. Celtic is still a buy, but for highly aggressive investors only. CANALASKA VENTURES $0.14 (Toronto symbol CVV; SI Rating: Start-up) (1-800-667-1870; www.canalaska.com; Shares outstanding: 137.2 million; Market cap: $19.2 million) holds nineteen 100%-owned uranium projects in the Athabasca Basin region of…