Cartier Resources “ECR” is a Val D’or, Quebec based mineral exploration company founded in 2006 that trades  on the Toronto Stock Exchange Venture Exchange. Its four main projects are located in the Abitibi Greenstone Belt in Quebec which has a long and successful history of gold mining.

KEY POINTS: When we analyze mining companies, our focus has been attempting to determine the value of assets a company has in resources; are the exploration results sufficient to justify continued exploration;  determining  how much a mining operation would cost and other factors.

The story remains the same; large declines in the prices of stocks often provide exceptional opportunities to invest. Frequently, when a large shareholder(s) must sell holdings for any of what can be several reasons, astute investors often will take advantage of the “sale.”

Cartier Resources .17 cents, has a five year price range from a .06 cent low to a .35 cent high. The company’s exploration success indicates  2,200,000 ounces Gold resources and we still expect more. By our own analysis, the proper minimum value price should be between .70 cents and .90 cents; that is based on merely using what Cartier already has, not what we expect as exploration continues.

Note that Toronto Stock Exchange and New York Stock Exchange listed Agnico Eagle owns 17% of Cartier’s shares. Other institutions own 14% with Cartier’s officers and directors holding large positions.  Analysis of insider buys and sells shows Cartier’s CEO Philippe Cloutier has been a consistently large buyer.

Cartier also has large European and North American institutional shareholders. At times, when they sell, capital gains opportunities may be created.

*We still consider that one of the most astute mining acquisitions was Cartier’s purchase of the formerly producing Chimo mine which had ceased mining operations in 1997 due to the low price of gold which was $289 at that time.

The Chimo mine is their major focus for now. Cartier paid a mere $261,000 for the mine. It had gold production of 379,000 ounces until 1997.

Cartier also owns three other projects that we consider worth consideration.

---