Topic: How To Invest

Q: Hello Pat: What is your opinion regarding Eastmain Resources (ER.TO)? I acquired it in December 2016 and wonder if it’s good to keep. Thank you.

Article Excerpt

A: Eastmain Resources, $0.47, symbol ER on Toronto (Shares outstanding: 175.4 million; Market cap: $82.4 million; www.eastmain.com), is a Canadian gold exploration company with a 100% interest in the Clearwater property (host to the Eau Claire deposit); it also holds 36.7% interest in the Eleonore South joint venture; and the former-producing Eastmain mine gold-copper project. All of the properties are located within the James Bay District of Quebec. Eau Claire is the company’s main asset. In August 2016, Eastmain launched an $8.8 million, 63,300-metre drilling program on the deposit; it could hold as much as 1.6 million ounces of gold. The program is comprised of 55,700 metres at the Eau Claire deposit, with a focus on further defining the deposit; the other 7,600 metres will test targets within 15 kilometres of Eau Claire. Eastmain aims to complete the drill program shortly, and it expects to produce a …