LEX CORP NEWS LETTER

  Company Fact Sheet:

http://www.greatbasingold.com/gup/filez/GBG-fact-sheet-Nov2009.pdf 

Great Basin Gold-GBG Breakout Above $2.00

I mentioned on my website that the breakout GBG had this week on Jan 6th above $2.00 was very positive buy signal.  The stock is currently trading at $2.05 and gold start to go into positive territory today.  GBG was one of the biggest underperformers in 2009.  This is one gold producer that didn't participate in the gold rally last year.  Look what happened to IamGold who was a  lagger at one time.  GBG is producing and should be producing from their Burnstone Project in 2010.  GBG has take over written all over it. 
 
"Burnstone is the first new mine to open in the Witwatersrand region for more than 30 years. It is a shallow, low cost, low risk mine with a 19 year mine life and is fully financed. Production and commissioning of the metallurgical plant is targeted for June 2010. Anticipated average annual production is 254,000 oz at a cash cost of US$319 per oz., with a substantial upside potential for later phases of development that will position Great Basin Gold as a leading mid-tier gold producer."

With both mines in production GBG will be producing aprox. 375'000oz of gold.  

Investment highlights

Poised to become a mid-tier gold producer

Anticipated low cost production from Hollister Project: Production at the Hollister property on the prolific and highly developed Carlin Trend in Nevada reached 80,000Au eq oz in 2008. With proven and probable reserves of 1.12 million ounces grading of 0.84oz/ton Au and Resources of 1.45 million ounces in the measured and indicated category, the mine will have an average annual production of 120,000Au eq oz. per year over a 10 year life of mine.

The recent purchase and refurbishment of the Esmeralda Mill has resolved milling issues; opened up opportunities for expansion and enabled efficiencies in the entire mining operation.

In June 2009, Hollister updated the mineral resources based on trial mining and drilling results and increased its overall contained gold equivalent ounces by 27% from 2.3 to 2.9 million ounces.

Gold production at the Burnstone Mine, located in the world’s most prolific goldfield, the Witwatersrand Basin in South Africa. The area contains a gold resource in excess of 16.2 million (M&I and Inferred) ounces of which 11,6 million are in the measured and indicated category at a 400 cmg/t cut-off. Burnstone is the first new mine to open in the Witwatersrand region for more than 30 years. It is a shallow, low cost, low risk mine with a 19 year mine life and is fully financed. Production and commissioning of the metallurgical plant is targeted for June 2010. Anticipated average annual production is 254,000 oz at a cash cost of US$319 per oz., with a substantial upside potential for later phases of development that will position Great Basin Gold as a leading mid-tier gold producer.

Exploration Growth. The sustainability of the Burnstone and Hollister operation are underpinned by solid brownfields (i.e. adjacent) opportunities to discover and delineate further ounces. At Hollister the newly discovered Hatter Graben zone provides a real growth in exploration opportunity. In addition, GBG has prospective greenfields exploration properties in Tanzania and Mozambique.

Financially Sound. Great Basin Gold is adequately financed to commission its Burnstone project by mid-year 2010 (average annual production of 254,000oz per year over 19 year LOM). With the Hollister Mine producing an average annual of 120,000Au eq oz. per year for 10 years, and Burnstone coming on stream, significant cash flow should be realized to further grow and strengthen the company.

 http://www.amemining.com/s/Home.asp

About the Company

Abacus is an exploration and development company with a 43-101 compliant positive preliminary economic assessment report (announced June 22, 2009) for its Afton-Ajax copper/gold project located 10 kilometres southwest of Kamloops, British Columbia. The report contemplates a 60,000 tonne per day operation producing an average 106 million pounds of copper and 99,400 ounces of gold in concentrate annually. Sensitivity analyses approximating metal prices (US$2.75 per pound copper and US$1,000 per ounce gold) in the assessment indicate a NPV of $1.2 billion discounted 8% over a 23 year mine life, with an IRR of 31.3%, cash costs of $0.90 per pound copper, and payback of 2.3 years. The Ajax extension remains open along strike and at depth. AME bought this land from Teck Cominco.

New Gold-NGD also has a 10% Net Profits Interest Royalty ("NPI") in the mineral claims.

Video Interview: http://www.miningindustrytv.com/videos/view/2720

Property Fly Over Video: http://www.amemining.com/i/misc/flyover.jpg

Article Northern Miner: March 2, 2009

http://www.amemining.com/i/pdf/00956-Abacus-Mining-reprint-Mar-2-09.pdf

Last week I took a position in AME-Abacus Mining and Exploration.  I believe the stock is cheap. It's was trading last week around .19-.20.  The stock did come down due to a $7mil. equity offering that happened in Dec. 2009.  The offering is complete and the stock should start moving back up again.  This money will be used towards advancing the preparation of a pre-feasibility study on the Afton-Ajax project.  One thing to remember is that the Ajax Project extension remains open along strike and at depth.  So,..we should see an increase in resource over time.  AME also has 2 other project called the Rainbow Zone and the DM Zone. These are both gold and copper mineralization zone. Both these project are still in early exploration stages. AME is currently concentrating on their Ajax Project. 

I believe the stock will break-out above .30 cents some time in January.

Welcome to 2010.  Today I took a position in a oil stock that has been on my radar for some time now. I first came across Sea Dragon Energy when the stock was trading around .15cents. Today it trades around .59cents. Said Arrata is the CEO of Sea Dragon Energy and was the former Chairman and Ceo of Centurion Energy who got taken out by Dana Gas in 2007.  I was also a shareholder of Centurion Energy and I made a nice profit on the take out.  Also, note that Said Arrata is a director Dana Gas.  Sea Dragon has a very strong management team with many years of experience under their belt. 

Josef Schachter, president, Schachter Asset Management is a big fan of SDX. He was on BNN on Jan. 5th 2010 and briefly mention SDX.  http://watch.bnn.ca/#clip252310

News: November 10th 2009 -Operation and Production Updates  

Production and Testing Operations: Testing of all producing wells in the Al-Amir SE and Geyad fields was completed October 22 and 29, 2009. Individual wells were tested for periods ranging from 12-24 hours to enable total field production to be prorated amongst the individual producing wells. The new Al Amir SE #4 well situated in the Al Amir SE field was tested for 12 hrs at 2,262 bopd and 2.35 mmscf/d on a 28/64" choke from the Kareem Rahmi Formation. The Al-Amir SE #4 well has since been brought on full production. Total gross production from the Al Amir SE and the Geyad fields has now reached 6,110 bopd and 6.60 mmscf/d ( 611 bopd and 0.66mmscf/d net to Sea Dragon). Sea Dragon holds a 10% working interest in the NW Gemsa Concession where the Al Amir SE and Geyad fields are located. Drilling Operations: The Geyad #2 well was spud on October, 17th 2009 and the well has now reached a depth of 7397 feet. The Kareem shagar Formation was encountered at 5,830 feet. it was fully penetrated and cored and drilling operations have now resumed towards the deeper Nubia Sandstones which are expected to be encountered at approximately 12,000 feet.

Sea Dragon has also taken over Premier Oil Egypt. This should provide Sea Dragon with more exploration upside.  I believe as oil prices move higher in 2010, this should give SDX a boost in it's share price. This management team should deliver positive news in 2010. SDX is a speculative oil exploration stock with alot of upside.  I rate it as a Strong Buy. 

 http://www.seadragon.ca/index.html

Corp. Presentation: http://www.seadragon.ca/news/CorporatePresentation.pdf