Ft Usequity Opp Discussion Threads

[moreros] 23/4/2006 17:25

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[drdre] 23/4/2006 16:55

Now at 37c. Drilling ongoing and we should see some results in the next 6-12 weeks.

DR

[drdre] 25/1/2006 09:07

Bought in yesterday. Here's the research I have collated:

[quote]
First Point Minerals' shares trade on the TSX Venture Exchange under the trading symbol FPX.


Fundamentals
Shares outstanding 36,058,455
Shares reserved 7,236,666
Fully diluted shares 43,295,121

Schedule of Warrants:
Exercise price of $0.30 expiry date Dec 9,2005 3,100,000
Exercise price of $0.20 expiry date Apr 28,2007 2,226,666

Market Cap: $5.5m CAD
Share price: .14.5c - .17c
12 month high .185c
12 month low .7c
All time high .54c
All time low .7c

Employees Stock Options
Exercise price of $0.19 and expiry date of Jan 16, 2007 75,000
Exercise price of $0.20 and expiry date of Jan 22, 2007 300,000
Exercise price of $0.53 and expiry date of Jun 04, 2007 50,000
Exercise price of $0.55 and expiry date of Jun 27, 2007 450,000
Exercise price of $0.34 and expiry date of Nov 04, 2008 150,000
Exercise price of $0.35 and expiry date of Dec 12, 2008 710,000
Exercise price of $0.20 and expiry date of Apr 15, 2009 175,000

Research Report:

[url]

Corporate Presentation:

[url]

From the presentation:

'Rio Luna Project showing a Long Section along the El Paraiso Vein at the same scale as the Minera Andes discovery in the Huevos Verde section of the San Jose project for comparison....In this zone which is part of a longer vein, to date, 2.6m tonnes, 8.3 g/tgold equiv = 700,000 oz'

First Point Minerals Corp. is a Canadian based mineral exploration company focused on acquisition of precious and base metal properties in the America. The company is currently focusing its efforts in Central America to develop reserves on the Rio Luna gold property in Nicaragua and the Cacamuyá gold/silver property in Honduras. The management team with over 120 years of management experience in over 30 countries, is led by Dr. Peter M D Bradshaw and Dr. Ron Britten who collectively have been instrumental in the discovery, exploration and advancement of seven major mines containing over 25 million ounces of gold as well as several other mineral discoveries worldwide.

Advanced Projects

First Point Minerals is 100% owner of two advanced gold projects, Rio Luna in Nicaragua and Cacamuyá in Honduras. These two projects occur in a "golden triangle" as shown in the map below. This triangle defines an area with of 4 gold mines which collectively have produced more than 10 million ounces of gold. Three of these mines are still operating, plus there are several active exploration drilling programs within this area by other companies.

At the 100% owned Rio Luna Gold Property in Nicaragua First Point Minerals has completed a 32 hole diamond drill program on three separate targets along the El Paraiso Vein System and one target area in the El Rodeo Vein System. This program totaled 3,400 meters. Gold values were encountered in all 32 holes, with the best values being found in 3 of the 4 zones tested. The most significant drill intersects to date are:

• Balsamo East, RL-21, 3.2 meters of 15.8 grams per tonne (g/t) gold
• Balsamo East, RL-22, 5.2 meters of 13.5 g/t gold
• Balsamo, RL-3, 2.6 meters of 19.4 g/t gold.
• Santa Rita, RL-9, 1.3 meters of 19.0 g/t gold.

The vein system has been drilled at 3 locations over less than 2.5 kilometers of the known 18 kilometers of quartz veining, which is still open.

Management is extremely encouraged by the results and the Company is currently completing an extensive surface program of soil sampling, augering and trenching prior to selecting further drill targets. This work has led to the discovery of a whole new vein system, the San Andreas Vein System with values up to 57.7 g/t gold and 59.2 g/t silver over 2.6 meters. More details including maps are available under "Projects".

Interactive Map of all results @ Rio Luna so far

[url]

(shows all drill / assays / geology / planned work, etc)

At the 100% owned Cacamuyá gold/silver property in Honduras is the host of 5 known zones of epithermal veins occur within six square kilometers of intense alteration. Some of the best drill intersections include:

• Cerro Chachagua, 6.2 meters of 104.7 g/t gold
• Cerro Chachagua, 4.1 meters of 8.4 g/t gold
• Filo Lapa, 1.5 meters of 17.8 g/t gold
• D4/D5 Area, 4.0 meters of 19.1 g/t gold
• D4/D5 Area, 1.5 meters of 26.8 g/t gold

More details including maps are also available for this property under "Projects". The Company is actively seeking a joint venture partner in order to undertake the recommended aggressive exploration and drill program on this property.

Earlier Stage Projects

First Point has applied for three new concessions in Nicaragua. The Boaco Viejo (already granted) and Mesas de Cuapa concessions are located immediately east and south of the Rio Luna Project. The Wasayama concession is situated between Natividad (Pavon) and San Pedro, both currently being drilled by Meridian Gold and Radius Gold respectively. First Point now has one of the largest land positions in Nicaragua totaling 1,260 square kilometers.

The recently announced agreement between Radius Gold and Meridian Gold confirms the acceleration of exploration efforts seeking gold in Nicaragua. Management believes that the mining and investment communities will be focusing more resources on exploration in Nicaragua, and companies with large land positions and favourable geology will be the greatest beneficiaries of this trend.

A strategic joint venture agreement to explore for giant porphyry copper-gold deposits in Honduras, Nicaragua and El Salvador between First Point and BHP Billiton extended from February 2003 until March 2005. The joint venture collected and compiled a very large data base including a total of 3,349 stream sediment and 2,876 rock samples, plus geological and property data in some of the most prospective terrain in this part of Central America. Under the terms of the agreement with BHP Billiton all gold or gold-silver deposits discovered as a result of this work belong 100% to First Point. This is a very valuable data base which First Point is now using to explore for gold and gold-silver deposits.

A very early example of the success from the follow-up of this data is the discovery of the Tule property in Honduras as announced in the news release on June 14, 2005. Ten strongly oxidized mineralized float samples that range between 0.27 to 21.0 grams per tonne ("g/t") gold were collected in a 1,400 by 720 meter area. This mineralization is probably hosted by a deeply weathered intrusion.

2.4 Million Shares in Aquila Resources (5%).

In early 2004, First Point entered into a new base metal exploration arrangement with a private American company, Menominee River Exploration Corp. and formed Aquila Resources. First Point currently has 2.4 million shares in Aquila Resources, which has two massive sulphide zinc projects; the Cedros Project, a drill ready zinc-silver project in Honduras, and the Back Forty Project, an advanced stage zinc-gold project in Michigan.

Aquila Resources is currently calculating a resource estimate for the Back Forty Project. Aquila Resources has announced a merger with JML Resources which trades on the TSX - Venture Exchange. It is anticipated that this merger will be completed in the third quarter of 2005 and Aquila's shares will begin trading during that period.


Other Activity

First Point continues to actively explore and evaluate new opportunities in North, Central and South America.

More Detailed Links

Rio Luna:
[url]

Cacamuya:
[url]


Nicaragua Articles

[url]

[url]

From above:
'Nicaragua, one of the poorest countries in the group, is considered one of the best places to explore because of a new mining code which places no limit on the amount of land that can be held under a mining or exploration claim but requires regular work reports and increasing fees to keep claims in good standing. Before the new law was introduced, most of prospective ground in the country was tied up by a handful of companies that were allowed to retain their claims whether or not they worked on them. The law has opened up new ground to juniors serious about exploration.'
[/quote]

For the capitalisation, they have two fantastic prospects which have already had a lot of exploration done on them. Also have other prospects and their share in the Back Forty project is also a fantastic plus.

For a junior explo of this size, seem very undervalued to me.

When I went to buy Barclays quoted me 18c. I always leave an order within the buy price and the order is filled 8 times out of 10. I got 15K @ 16.5c.

DR