In my Fairfax Media column I talk about Inca MInerals (ICG) which has come up with an indication that it's sitting on a massive copper deposit in Peru. There could be an opportunity here as well as in another spec stock that I've covered before, Red Metals (RDM) which is up 68% on when we covered it before Christmas. Everyone is looking for the next Sirius (SIR) - which returned 679 per cent in a matter of weeks.
The thing is, with Inca its discovery is very uncertain, yet its shares more than quadrupled at one point.
They've come back from a 17c high to about 10c. It hasn't even come out with assays yet!
Red Metals on the other hand is much more advanced and there is good nearology. This is next to BHP's giant $25 billion Cannington deposit near Mt Isa, north Queensland. It has very similar geological characteristics, and the company is hyping it as "the next Cannington". It will be coming out with data any day now.
But you know often with these Small Cap Speculative Explorers, it is better to travel than to arrive. So beware!
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