www.streetinvesting.com: What's in Store for Playfair Mining Ltd.?
12/5/2006
Dec 05, 2006 (M2 PRESSWIRE via COMTEX News Network) --
Streetinvesting.com is the author of this release. This release is a result of our current concentration on Playfair Mining Ltd. (TSX-V:PLY) and their latest corporate developments and market performance. Our goal is to help investors seek a diversified portfolio by introducing techniques to help grasp a better understanding and concept of the market and the daily activities that a public company experiences. The first stage of this process is to continually track Playfair Mining Ltd. and use the information that we may find to our advantage. To learn more and become part of the acclaimed online financial newsletter community, visit
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Playfair Mining Ltd. was up 12.50% in late day trading Monday. Investors also saw approximately 350,300 shares having traded hands come market closure.
The sentiments of investors across Bay Street were further boosted Monday morning, as mining stocks helped send the Toronto stock market higher.
Despite a decline in the price of oil, in combination with the Canadian dollar losing a fifth of a cent at 87.14 cents US, Toronto's S&P/TSX composite index was up 30.38 points to 12,785.13. The TSX Venture Exchange on the other hand retreated 2.85 points to 2,847.81.
Playfair Mining Ltd. stood out in the crowd Monday and amidst the morning's overall, positive results secured notable returns for shareholders.
In some of the most recent news to surface surrounding this Company, which we feel may have had an affect on the day's success in the marketplace, as well as an ongoing affect on shareholder outcome, Playfair Mining Ltd. was pleased to report that it had commenced an aggressive exploration program on its Granite Lake property in south-central Newfoundland. The focus of this exploration program is a large (5 km by 10 km) lacustrine geochemical anomaly of tungsten, zinc, copper, molybdenum, lead and silver.
Playfair's exploration of this extensive multi-element geochemical anomaly is occurring at the same time as it continues to advance two of its four high grade tungsten deposits, also in Canada, with ongoing work programs. Work on Playfair's 100% owned Grey River, Newfoundland deposit is currently focused on the compilation of current and historic data in preparation for a 43-101 resource estimate, metallurgical testing on a bulk sample at SGS Laboratories in Cornwall, England and an analysis of costs and data collection in anticipation of launching a drill program to expand the deposit below the existing adit. In addition to advancing the Grey River deposit, the company has recently completed the first phase of its drill program on its wholly owned Risby, Yukon tungsten deposit with assays pending.
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